As Bank N S Halifax (BNS) Valuation Declined, Holder Public Sector Pension Investment Board Trimmed Stake

May 25, 2018 - By Adrian Erickson

The Bank of Nova Scotia (NYSE:BNS) Logo

Public Sector Pension Investment Board decreased its stake in Bank N S Halifax (BNS) by 8.58% based on its latest 2017Q4 regulatory filing with the SEC. Public Sector Pension Investment Board sold 202,863 shares as the company’s stock declined 5.86% with the market. The institutional investor held 2.16M shares of the major banks company at the end of 2017Q4, valued at $139.90M, down from 2.36M at the end of the previous reported quarter. Public Sector Pension Investment Board who had been investing in Bank N S Halifax for a number of months, seems to be less bullish one the $73.95B market cap company. The stock decreased 0.59% or $0.37 during the last trading session, reaching $61.89. About 338,148 shares traded. The Bank of Nova Scotia (NYSE:BNS) has risen 3.96% since May 25, 2017 and is uptrending. It has underperformed by 7.59% the S&P500.

Public Sector Pension Investment Board, which manages about $15.38B US Long portfolio, upped its stake in Spirit Airls Inc (NASDAQ:SAVE) by 604,881 shares to 654,881 shares, valued at $29.37 million in 2017Q4, according to the filing. It also increased its holding in Restaurant Brands Intl Inc by 355,348 shares in the quarter, for a total of 430,348 shares, and has risen its stake in Johnson & Johnson (NYSE:JNJ).

Analysts await The Bank of Nova Scotia (NYSE:BNS) to report earnings on May, 29 before the open. They expect $1.32 EPS, up 7.32 % or $0.09 from last year’s $1.23 per share. BNS’s profit will be $1.58 billion for 11.72 P/E if the $1.32 EPS becomes a reality. After $1.37 actual EPS reported by The Bank of Nova Scotia for the previous quarter, Wall Street now forecasts -3.65 % negative EPS growth.

More notable recent The Bank of Nova Scotia (NYSE:BNS) news were published by: Streetinsider.com which released: “Scotiabank (BNS) Announces Acquisition of 51% Stake in Banco Cencosud in Peru & Enters 15-Yr Partnership to …” on May 10, 2018, also Fool.ca with their article: “Can Anyone Knock BMO off the ETF Mantle?” published on May 25, 2018, Fool.ca published: “2 Top Dividend Stocks You Will Find Attractive for Your TFSA” on May 25, 2018. More interesting news about The Bank of Nova Scotia (NYSE:BNS) were released by: Fool.ca and their article: “A Canadian Dividend Stock You Can Safely Own in Your TFSA” published on May 17, 2018 as well as Prnewswire.com‘s news article titled: “This Morning’s Technical Outlook on Banking Stocks — Canadian Imperial Bank of Commerce, Citigroup, Bank of Nova …” with publication date: April 30, 2018.

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