Scotia Capital buys $307.3 Million stake in Bank of Nova Scotia (BNS)

Bank of Nova Scotia (BNS) : Scotia Capital scooped up 1,391,625 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 12, 2016. The investment management firm now holds a total of 6,347,141 shares of Bank of Nova Scotia which is valued at $307.3 Million.Bank of Nova Scotia makes up approximately 7.37% of Scotia Capital’s portfolio.

Other Hedge Funds, Including , Smith Moore added BNS to its portfolio by purchasing 4,724 company shares during the most recent quarter which is valued at $228,736. Bank of Nova Scotia makes up approx 0.10% of Smith Moore’s portfolio.Bradley Foster Sargent Incct reduced its stake in BNS by selling 4,330 shares or 18.81% in the most recent quarter. The Hedge Fund company now holds 18,685 shares of BNS which is valued at $904,728. Bank of Nova Scotia makes up approx 0.04% of Bradley Foster Sargent Incct’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.Meag Munich Ergo Kapitalanlagegesellschaft Mbh reduced its stake in BNS by selling 58,000 shares or 21.64% in the most recent quarter. The Hedge Fund company now holds 210,000 shares of BNS which is valued at $10.1 Million. Bank of Nova Scotia makes up approx 0.52% of Meag Munich Ergo Kapitalanlagegesellschaft Mbh’s portfolio.Commonwealth Equity Services Inc boosted its stake in BNS in the latest quarter, The investment management firm added 321 additional shares and now holds a total of 22,853 shares of Bank of Nova Scotia which is valued at $1.2 Million. Bank of Nova Scotia makes up approx 0.01% of Commonwealth Equity Services Inc’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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