Portland Investment Counsel Lowers stake in Bank of Nova Scotia (BNS)

Bank of Nova Scotia (BNS) : Portland Investment Counsel reduced its stake in Bank of Nova Scotia by 20.74% during the most recent quarter end. The investment management company now holds a total of 126,884 shares of Bank of Nova Scotia which is valued at $6.1 Million after selling 33,200 shares in Bank of Nova Scotia , the firm said in a disclosure report filed with the SEC on May 12, 2016.Bank of Nova Scotia makes up approximately 11.80% of Portland Investment Counsel’s portfolio.

Other Hedge Funds, Including , Credit Agricole S A reduced its stake in BNS by selling 88,115 shares or 40.26% in the most recent quarter. The Hedge Fund company now holds 130,746 shares of BNS which is valued at $6.3 Million. Bank of Nova Scotia makes up approx 0.03% of Credit Agricole S A’s portfolio.Nikko Asset Management Americas reduced its stake in BNS by selling 600 shares or 8.96% in the most recent quarter. The Hedge Fund company now holds 6,100 shares of BNS which is valued at $295,362. Bank of Nova Scotia makes up approx 0.03% of Nikko Asset Management Americas’s portfolio. Massmutual Trust Co Fsbadv added BNS to its portfolio by purchasing 115 company shares during the most recent quarter which is valued at $5,568.Cumberland Partners Ltd boosted its stake in BNS in the latest quarter, The investment management firm added 258 additional shares and now holds a total of 102,503 shares of Bank of Nova Scotia which is valued at $5 Million. Bank of Nova Scotia makes up approx 0.70% of Cumberland Partners Ltd’s portfolio.State Of Wisconsin Investment Board reduced its stake in BNS by selling 522,200 shares or 21.9% in the most recent quarter. The Hedge Fund company now holds 1,862,233 shares of BNS which is valued at $89.6 Million. Bank of Nova Scotia makes up approx 0.35% of State Of Wisconsin Investment Board’s portfolio.

Bank of Nova Scotia opened for trading at $48.08 and hit $48.6 on the upside on Friday, eventually ending the session at $48.1, with a gain of 0.46% or 0.22 points. The heightened volatility saw the trading volume jump to 9,03,644 shares. Company has a market cap of $57,845 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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