1832 Asset Management LP recently announced the acquisition of new stake in The Bank of Nova Scotia (NYSE:BNS). The institutional investor has increased its shareholding in the Financial company by 0.98% to 29.21 million shares with purchase of 0.28 million shares. This fresh investment now brings its stake to 2.45% valued currently at $1.46 billion. In addition, The Vanguard Group, Inc. raised its holdings by 33325.0 to 28.79 million shares. And CIBC World Markets, Inc. has lifted its position by 6.15% or 1.46 million shares – to 25.29 million shares.
With over 1.69 million The Bank of Nova Scotia (BNS) shares trading Tuesday and a closing price of $49.19 on the day, the dollar volume was approximately $83.15 million. The shares have shown a negative half year performance of -4.58% and its price on 05/23/23 lost nearly -0.69%. Currently, there are 1.19B common shares owned by the public and among those 1.19B shares have been available to trade.
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The top 3 mutual fund holders in The Bank of Nova Scotia are Vanguard Total International Stoc, Government Pension Fund – Global, and RBC Canadian Dividend Fund. Vanguard Total International Stoc owns 15.71 million shares of the company’s stock, all valued at over $784.2 million. The company bought an additional 4339.0 shares recently to bring their total holdings to about 1.32% of the shares outstanding. Government Pension Fund – Global bought 1.39 million shares to see its total holdings expand to 11.73 million shares valued at over $585.42 million and representing 0.99% of the shares outstanding. RBC Canadian Dividend Fund now owns shares totaling to 0.96% of the shares outstanding.
Shares of The Bank of Nova Scotia (NYSE: BNS) opened at $49.30, down -$0.23 from a prior closing price of $49.53. However, the script later moved the day high at 49.70, down -0.69%. The company’s stock has a 5-day price change of 0.18% and -6.82% over the past three months. BNS shares are trading 0.43% year to date (YTD), with the 12-month market performance down to -21.36% lower. It has a 12-month low price of $45.26 and touched a high of $68.59 over the same period. BNS has an average intraday trading volume of 1.52 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -0.31%, -0.65%, and -4.38% respectively.
Institutional ownership of The Bank of Nova Scotia (NYSE: BNS) shares accounts for 65.50% of the company’s 1.19B shares outstanding. Mutual fund holders own 18.75%, while other institutional holders and individual stakeholders account for 27.74% and — respectively.
It has a market capitalization of $59.08B and a beta (3y monthly) value of 1.00. The stock’s trailing 12-month PE ratio is 9.18, while the earnings-per-share (ttm) stands at $5.36. The company has a PEG of 8.34 and the debt-to-equity ratio at 0.13. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.35% over the week and 1.58% over the month.
Analysts forecast that The Bank of Nova Scotia (BNS) will achieve an EPS of $1.31 for the current quarter, $1.43 for the next quarter and $5.85 for 2024. The lowest estimate earnings-per-share for the quarter is $1.22 while analysts give the company a high EPS estimate of $1.45. Comparatively, EPS for the current quarter was $1.69 a year ago. Earnings per share for the fiscal year are expected to increase by 4.20%, and 6.07% over the next financial year. EPS should shrink at an annualized rate of 1.10% over the next five years, compared to 4.30% over the past 5-year period.
