Portland Investment Counsel Lowers stake in Bank of Nova Scotia (BNS)

Bank of Nova Scotia (BNS) : Portland Investment Counsel reduced its stake in Bank of Nova Scotia by 41.3% during the most recent quarter end. The investment management company now holds a total of 74,484 shares of Bank of Nova Scotia which is valued at $3,838,161 after selling 52,400 shares in Bank of Nova Scotia , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.Bank of Nova Scotia makes up approximately 5.46% of Portland Investment Counsel’s portfolio.

Other Hedge Funds, Including , 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. Gratus Capital added BNS to its portfolio by purchasing 37,400 company shares during the most recent quarter which is valued at $1,879,350. Bank of Nova Scotia makes up approx 0.27% of Gratus Capital’s portfolio.Rathbone Brothers Plc boosted its stake in BNS in the latest quarter, The investment management firm added 3,515 additional shares and now holds a total of 261,703 shares of Bank of Nova Scotia which is valued at $13,150,576. Bank of Nova Scotia makes up approx 0.71% of Rathbone Brothers Plc’s portfolio.Lingohr Partner Asset Management Gmbh boosted its stake in BNS in the latest quarter, The investment management firm added 38,900 additional shares and now holds a total of 50,742 shares of Bank of Nova Scotia which is valued at $2,548,771. Bank of Nova Scotia makes up approx 2.45% of Lingohr Partner Asset Management Gmbh’s portfolio.

Bank of Nova Scotia opened for trading at $51.81 and hit $52.41 on the upside on Tuesday, eventually ending the session at $52.21, with a gain of 1.44% or 0.74 points. The heightened volatility saw the trading volume jump to 7,41,229 shares. Company has a market cap of $62,795 M.

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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