Intact Investment Management buys $88,932,278 stake in Bank of Nova Scotia (BNS)

Bank of Nova Scotia (BNS) : Intact Investment Management scooped up 71,300 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 Aug 15, 2016. The investment management firm now holds a total of 1,725,835 shares of Bank of Nova Scotia which is valued at $88,932,278.Bank of Nova Scotia makes up approximately 4.18% of Intact Investment Management’s portfolio.

Other Hedge Funds, Including , Paloma Partners Management Co reduced its stake in BNS by selling 50,795 shares or 34.23% in the most recent quarter. The Hedge Fund company now holds 97,613 shares of BNS which is valued at $5,029,998. Bank of Nova Scotia makes up approx 0.19% of Paloma Partners Management Co’s portfolio.Pinebridge Investments reduced its stake in BNS by selling 7 shares or 0.07% in the most recent quarter. The Hedge Fund company now holds 10,356 shares of BNS which is valued at $533,645. Bank of Nova Scotia makes up approx 0.03% of Pinebridge Investments’s portfolio. Coconut Grove Bank sold out all of its stake in BNS during the most recent quarter. The investment firm sold 50 shares of BNS which is valued $2,518.K.j. Harrison Partners Inc boosted its stake in BNS in the latest quarter, The investment management firm added 13,867 additional shares and now holds a total of 46,931 shares of Bank of Nova Scotia which is valued at $2,359,691. Bank of Nova Scotia makes up approx 1.23% of K.j. Harrison Partners Inc’s portfolio.Checchi Capital Advisers boosted its stake in BNS in the latest quarter, The investment management firm added 800 additional shares and now holds a total of 5,710 shares of Bank of Nova Scotia which is valued at $286,813. Bank of Nova Scotia makes up approx 0.07% of Checchi Capital Advisers’s portfolio.

Bank of Nova Scotia opened for trading at $53.14 and hit $53.66 on the upside on Thursday, eventually ending the session at $53.62, with a gain of 0.75% or 0.4 points. The heightened volatility saw the trading volume jump to 8,03,844 shares. Company has a market cap of $64,595 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 .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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