Louisbourg Investments Inc. Sells 25,929 Shares of Bank of Nova Scotia (The) $BNS

Louisbourg Investments Inc. decreased its stake in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 25.1% during the 4th quarter, HoldingsChannel reports. The fund owned 77,235 shares of the bank’s stock after selling 25,929 shares during the period. Louisbourg Investments Inc.’s holdings in Bank of Nova Scotia were worth $5,704,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Bank of Nova Scotia by 1.9% during the 3rd quarter. Vanguard Group Inc. now owns 56,068,464 shares of the bank’s stock valued at $3,625,499,000 after purchasing an additional 1,063,127 shares during the last quarter. Canerector Inc. grew its position in Bank of Nova Scotia by 8,899.0% in the 3rd quarter. Canerector Inc. now owns 26,997,000 shares of the bank’s stock worth $1,745,356,000 after purchasing an additional 26,697,000 shares during the last quarter. TD Asset Management Inc grew its position in Bank of Nova Scotia by 1.3% in the 3rd quarter. TD Asset Management Inc now owns 18,364,021 shares of the bank’s stock worth $1,187,709,000 after purchasing an additional 229,990 shares during the last quarter. CIBC Asset Management Inc increased its holdings in shares of Bank of Nova Scotia by 44.3% during the 3rd quarter. CIBC Asset Management Inc now owns 9,800,305 shares of the bank’s stock worth $635,730,000 after purchasing an additional 3,007,407 shares during the period. Finally, Legal & General Group Plc increased its holdings in shares of Bank of Nova Scotia by 5.4% during the 3rd quarter. Legal & General Group Plc now owns 8,046,647 shares of the bank’s stock worth $520,426,000 after purchasing an additional 410,786 shares during the period. Institutional investors own 49.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BNS. Canaccord Genuity Group cut shares of Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 9th. TD Securities restated a “hold” rating on shares of Bank of Nova Scotia in a research note on Tuesday, March 3rd. Weiss Ratings raised Bank of Nova Scotia from a “hold (c+)” rating to a “buy (b)” rating in a report on Wednesday, February 25th. Finally, Royal Bank Of Canada raised their price objective on Bank of Nova Scotia from $97.00 to $106.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 25th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $106.00.

Bank of Nova Scotia Trading Down 0.1%

Shares of Bank of Nova Scotia stock opened at $70.13 on Friday. Bank of Nova Scotia has a 12-month low of $44.09 and a 12-month high of $78.28. The stock has a market capitalization of $86.36 billion, a P/E ratio of 14.58, a price-to-earnings-growth ratio of 0.85 and a beta of 1.10. The company has a 50-day simple moving average of $73.29 and a 200 day simple moving average of $70.17. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.68.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released its quarterly earnings results on Tuesday, February 24th. The bank reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.06. The firm had revenue of $7.40 billion for the quarter, compared to analyst estimates of $6.99 billion. Bank of Nova Scotia had a net margin of 12.40% and a return on equity of 12.49%. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.76 earnings per share. Research analysts expect that Bank of Nova Scotia will post 4.91 earnings per share for the current fiscal year.

Bank of Nova Scotia Company Profile

Bank of Nova Scotia, commonly known as Scotiabank, is a Canadian multinational banking and financial services company founded in 1832 and headquartered in Toronto, Ontario. It is one of Canada’s largest banks and provides a broad range of financial services to retail, commercial, corporate and institutional clients. The bank combines a domestic Canadian franchise with an extensive international presence to serve customers across multiple markets.

Scotiabank’s core activities include personal and commercial banking, wealth management, corporate and investment banking, capital markets, and global transaction banking.