1832 Asset Management Lowers stake in Bank of Nova Scotia (BNS)

Bank of Nova Scotia (BNS) : 1832 Asset Management reduced its stake in Bank of Nova Scotia by 13.89% during the most recent quarter end. The investment management company now holds a total of 11,219,509 shares of Bank of Nova Scotia which is valued at $578,141,299 after selling 1,809,360 shares in Bank of Nova Scotia , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Bank of Nova Scotia makes up approximately 2.16% of 1832 Asset Management’s portfolio.

Other Hedge Funds, Including , Shoker Investment Counsel boosted its stake in BNS in the latest quarter, The investment management firm added 256 additional shares and now holds a total of 7,978 shares of Bank of Nova Scotia which is valued at $411,106. Bank of Nova Scotia makes up approx 0.35% of Shoker Investment Counsel’s portfolio.M&r Capital Management Inc reduced its stake in BNS by selling 700 shares or 9.21% in the most recent quarter. The Hedge Fund company now holds 6,900 shares of BNS which is valued at $355,557. Bank of Nova Scotia makes up approx 0.09% of M&r Capital Management Inc’s portfolio.

Bank of Nova Scotia closed down -0.14 points or -0.26% at $52.86 with 7,02,296 shares getting traded on Monday. Post opening the session at $52.82, the shares hit an intraday low of $52.75 and an intraday high of $53.02 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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. Bank of Nova Scotia was Downgraded by Macquarie to ” Neutral” on Jun 9, 2016.

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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