Letko Brosseau Associates Inc buys $368.1 Million stake in Bank of Nova Scotia (BNS)

Bank of Nova Scotia (BNS) : Letko Brosseau Associates Inc scooped up 172,438 additional shares in Bank of Nova Scotia during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 7,603,103 shares of Bank of Nova Scotia which is valued at $368.1 Million.Bank of Nova Scotia makes up approximately 3.62% of Letko Brosseau Associates Inc’s portfolio.

Other Hedge Funds, Including , Advisor Partners added BNS to its portfolio by purchasing 4,738 company shares during the most recent quarter which is valued at $229,414. Bank of Nova Scotia makes up approx 0.09% of Advisor Partners’s portfolio.Wfg Advisors Lp reduced its stake in BNS by selling 45 shares or 31.47% in the most recent quarter. The Hedge Fund company now holds 98 shares of BNS which is valued at $4,745.John G Ullman Associates Inc reduced its stake in BNS by selling 600 shares or 1.28% in the most recent quarter. The Hedge Fund company now holds 46,200 shares of BNS which is valued at $2.4 Million. Bank of Nova Scotia makes up approx 0.56% of John G Ullman Associates Inc’s portfolio.Quadrant Capital Group boosted its stake in BNS in the latest quarter, The investment management firm added 784 additional shares and now holds a total of 925 shares of Bank of Nova Scotia which is valued at $48,516. Bank of Nova Scotia makes up approx 0.03% of Quadrant Capital Group’s portfolio.

Bank of Nova Scotia opened for trading at $48.51 and hit $49.12 on the upside on Monday, eventually ending the session at $48.86, with a gain of 0.91% or 0.44 points. The heightened volatility saw the trading volume jump to 8,44,297 shares. Company has a market cap of $58,759 M.

On the company’s financial health, Bank of Nova Scotia reported $1.43 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Mar 1, 2016. Analyst had a consensus of $1.41. The company had revenue of $6365.00 million for the quarter, compared to analysts expectations of $6324.19 million. The company’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.35 EPS.

The Bank of Nova Scotia (the Bank) is a Canada-based diversified financial institution. The Bank offered a range of products and services including retail commercial corporate and investment banking to more than 21 million customers in more than 55 countries around the world. The Bank has four business lines: Canadian Banking International Banking Scotia Capital and Global Wealth Management. The Canadian Banking segment provided a range of banking and investing services to more than 7.7 million customers across Canada through a network of 1190 branches 3869 automated banking machine (ABMs) as well as telephone Internet banking and third-party channels. International Banking includes Scotiabank’s retail and commercial banking operations in more than 55 countries outside Canada. Global Wealth Management (GWM) consists of wealth management insurance and Global Transaction Banking businesses.

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