Louisbourg Investments Inc. Has $6.47 Million Stake in Bank of Nova Scotia (The) $BNS

Louisbourg Investments Inc. trimmed its stake in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 35.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 117,292 shares of the bank’s stock after selling 64,461 shares during the period. Bank of Nova Scotia comprises about 1.4% of Louisbourg Investments Inc.’s portfolio, making the stock its 23rd largest position. Louisbourg Investments Inc.’s holdings in Bank of Nova Scotia were worth $6,474,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Bank of Nova Scotia by 3.5% in the first quarter. Vanguard Group Inc. now owns 53,184,171 shares of the bank’s stock valued at $2,521,621,000 after acquiring an additional 1,821,025 shares during the last quarter. 1832 Asset Management L.P. grew its stake in Bank of Nova Scotia by 2.1% in the first quarter. 1832 Asset Management L.P. now owns 17,717,286 shares of the bank’s stock valued at $840,331,000 after purchasing an additional 362,572 shares in the last quarter. Mackenzie Financial Corp raised its stake in shares of Bank of Nova Scotia by 2.5% during the 1st quarter. Mackenzie Financial Corp now owns 15,158,112 shares of the bank’s stock worth $718,670,000 after purchasing an additional 374,487 shares in the last quarter. Scotia Capital Inc. boosted its holdings in shares of Bank of Nova Scotia by 0.8% in the 1st quarter. Scotia Capital Inc. now owns 14,141,532 shares of the bank’s stock valued at $670,495,000 after buying an additional 117,272 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Bank of Nova Scotia by 255.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 10,174,780 shares of the bank’s stock valued at $482,590,000 after buying an additional 7,315,915 shares during the last quarter. 49.13% of the stock is currently owned by institutional investors and hedge funds.

Bank of Nova Scotia Stock Performance

Shares of BNS stock opened at $63.42 on Friday. The company has a market capitalization of $78.68 billion, a price-to-earnings ratio of 17.05, a PEG ratio of 1.45 and a beta of 1.16. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.03 and a current ratio of 1.03. The company has a 50-day simple moving average of $61.48 and a 200 day simple moving average of $55.16. Bank of Nova Scotia has a 52 week low of $44.09 and a 52 week high of $65.52.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last announced its earnings results on Tuesday, August 26th. The bank reported $1.37 EPS for the quarter, topping the consensus estimate of $1.28 by $0.09. The business had revenue of $6.85 billion during the quarter, compared to the consensus estimate of $9.29 billion. Bank of Nova Scotia had a net margin of 9.74% and a return on equity of 11.61%. Bank of Nova Scotia’s revenue was up 13.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.63 EPS. On average, sell-side analysts predict that Bank of Nova Scotia will post 4.91 earnings per share for the current year.

Wall Street Analysts Forecast Growth

BNS has been the topic of several analyst reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Bank of Nova Scotia in a research report on Wednesday. Wall Street Zen raised shares of Bank of Nova Scotia from a “sell” rating to a “hold” rating in a research report on Saturday, August 30th. Finally, Royal Bank Of Canada lifted their price objective on shares of Bank of Nova Scotia from $80.00 to $86.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 27th. Five equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $86.00.

About Bank of Nova Scotia

The Bank of Nova Scotia provides various banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally. It operates through Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets segments.