Dorchester Wealth Management Co Lowers stake in Bank of Nova Scotia (BNS)

Bank of Nova Scotia (BNS) : Dorchester Wealth Management Co reduced its stake in Bank of Nova Scotia by 1.03% during the most recent quarter end. The investment management company now holds a total of 451,295 shares of Bank of Nova Scotia which is valued at $24,108,179 after selling 4,688 shares in Bank of Nova Scotia , the firm said in a disclosure report filed with the SEC on Oct 17, 2016.Bank of Nova Scotia makes up approximately 9.10% of Dorchester Wealth Management Co’s portfolio.

Other Hedge Funds, Including , Creative Planning boosted its stake in BNS in the latest quarter, The investment management firm added 10,450 additional shares and now holds a total of 14,981 shares of Bank of Nova Scotia which is valued at $790,547. Bank of Nova Scotia makes up approx 0.01% of Creative Planning’s portfolio.British Columbia Investment Management Corp boosted its stake in BNS in the latest quarter, The investment management firm added 500 additional shares and now holds a total of 185,519 shares of Bank of Nova Scotia which is valued at $9,789,838. Bank of Nova Scotia makes up approx 0.10% of British Columbia Investment Management Corp’s portfolio.Cardinal Capital Management reduced its stake in BNS by selling 38,631 shares or 3.53% in the most recent quarter. The Hedge Fund company now holds 1,056,504 shares of BNS which is valued at $55,941,887. Bank of Nova Scotia makes up approx 6.35% of Cardinal Capital Management’s portfolio.

Bank of Nova Scotia opened for trading at $53.48 and hit $53.76 on the upside on Friday, eventually ending the session at $53.42, with a gain of 0.47% or 0.25 points. The heightened volatility saw the trading volume jump to 6,10,041 shares. Company has a market cap of $64,354 M.

On the company’s financial health, Bank of Nova Scotia reported $1.54 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Aug 30, 2016. Analyst had a consensus of $1.48.Analysts expectations of $ 6602.95.During the same quarter in the previous year, the company posted $1.45 EPS.

Many Wall Street Analysts have commented on Bank of Nova Scotia. Company shares were Reiterated by RBC Capital Mkts on Aug 31, 2016 to “Outperform”, Firm has raised the Price Target to $ 77 from a previous price target of $72 .

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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