Bank N S Halifax (BNS) Holder Public Sector Pension Investment Board Cut Its Stake as Market Value Declined

July 13, 2018 - By Jenna Rose

The Bank of Nova Scotia (NYSE:BNS) Logo

Public Sector Pension Investment Board decreased its stake in Bank N S Halifax (BNS) by 18.71% based on its latest 2018Q1 regulatory filing with the SEC. Public Sector Pension Investment Board sold 404,300 shares as the company’s stock declined 0.93% with the market. The institutional investor held 1.76 million shares of the major banks company at the end of 2018Q1, valued at $108.13 million, down from 2.16M 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 $71.39 billion market cap company. The stock decreased 0.10% or $0.06 during the last trading session, reaching $57.26. About 501,229 shares traded. The Bank of Nova Scotia (NYSE:BNS) has risen 10.02% since July 13, 2017 and is uptrending. It has underperformed by 2.55% the S&P500.

Public Sector Pension Investment Board, which manages about $14.29 billion US Long portfolio, upped its stake in Ishares Tr (Put) (EEM) by 3.59 million shares to 3.60M shares, valued at $173.81 million in 2018Q1, according to the filing. It also increased its holding in Cme Group Inc (Put) (NASDAQ:CME) by 150,000 shares in the quarter, for a total of 450,000 shares, and has risen its stake in Vaneck Vectors Etf Tr (Put).

Analysts await The Bank of Nova Scotia (NYSE:BNS) to report earnings on September, 4. They expect $1.35 EPS, up 6.30 % or $0.08 from last year’s $1.27 per share. BNS’s profit will be $1.68 billion for 10.60 P/E if the $1.35 EPS becomes a reality. After $1.35 actual EPS reported by The Bank of Nova Scotia for the previous quarter, Wall Street now forecasts 0.00 % EPS growth.

More notable recent The Bank of Nova Scotia (NYSE:BNS) news were published by: Seekingalpha.com which released: “Don’t Sell Axon Enterprise – Cramer’s Lightning Round (7/11/18)” on July 12, 2018, also Fool.ca with their article: “Should You Buy Bank of Nova Scotia (TSX:BNS) on the Weakness?” published on July 08, 2018, Fool.ca published: “2 Top Stocks to Buy and Hold in Your TFSA” on July 09, 2018. More interesting news about The Bank of Nova Scotia (NYSE:BNS) were released by: Seekingalpha.com and their article: “Comparing Canadian Banks/New Buy” published on June 24, 2018 as well as Fool.ca‘s news article titled: “Should You Buy Canadian or US Bank Stocks?” with publication date: July 11, 2018.

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