Mackenzie Financial Corp buys $351,024,782 stake in Bank of Nova Scotia (BNS)

Bank of Nova Scotia (BNS) : Mackenzie Financial Corp scooped up 6,807,043 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 12, 2016. The investment management firm now holds a total of 6,812,047 shares of Bank of Nova Scotia which is valued at $351,024,782.Bank of Nova Scotia makes up approximately 1.91% of Mackenzie Financial Corp’s portfolio.

Other Hedge Funds, Including , Raymond James Financial Services Advisors boosted its stake in BNS in the latest quarter, The investment management firm added 318 additional shares and now holds a total of 5,328 shares of Bank of Nova Scotia which is valued at $274,552. Rothschild Asset Management Inc added BNS to its portfolio by purchasing 21,541 company shares during the most recent quarter which is valued at $1,082,435. Bank of Nova Scotia makes up approx 0.02% of Rothschild Asset Management Inc’s portfolio.Cardinal Capital Management boosted its stake in BNS in the latest quarter, The investment management firm added 1,114 additional shares and now holds a total of 40,278 shares of Bank of Nova Scotia which is valued at $2,044,914. Bank of Nova Scotia makes up approx 0.81% of Cardinal Capital Management’s portfolio.Msi Financial Services Inc boosted its stake in BNS in the latest quarter, The investment management firm added 37 additional shares and now holds a total of 2,848 shares of Bank of Nova Scotia which is valued at $143,197. Bank of Nova Scotia makes up approx 0.01% of Msi Financial Services 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 $1.46 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on May 31, 2016. Analyst had a consensus of $1.42.Analysts expectations of $ 6513.28.During the same quarter in the previous year, the company posted $1.42 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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