Lincluden Management Ltd. Sells 17,194 Shares of Bank of Nova Scotia (The) $BNS

Lincluden Management Ltd. cut its stake in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 2.2% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 764,860 shares of the bank’s stock after selling 17,194 shares during the period. Bank of Nova Scotia makes up approximately 4.7% of Lincluden Management Ltd.’s holdings, making the stock its 5th largest holding. Lincluden Management Ltd. owned about 0.06% of Bank of Nova Scotia worth $42,255,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BNS. Compagnie Lombard Odier SCmA acquired a new position in Bank of Nova Scotia during the 1st quarter worth approximately $52,000. MAI Capital Management increased its holdings in shares of Bank of Nova Scotia by 40.7% in the 1st quarter. MAI Capital Management now owns 1,211 shares of the bank’s stock valued at $57,000 after acquiring an additional 350 shares during the last quarter. SVB Wealth LLC bought a new stake in shares of Bank of Nova Scotia in the 1st quarter valued at approximately $69,000. North Capital Inc. bought a new position in Bank of Nova Scotia during the 1st quarter worth $81,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Bank of Nova Scotia by 11.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,343 shares of the bank’s stock worth $159,000 after buying an additional 336 shares during the last quarter. 49.13% of the stock is owned by institutional investors and hedge funds.

Bank of Nova Scotia Trading Down 0.2%

Shares of Bank of Nova Scotia stock opened at $63.42 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.66. The firm has a market cap of $78.68 billion, a price-to-earnings ratio of 17.05, a price-to-earnings-growth ratio of 1.45 and a beta of 1.16. The business has a fifty day simple moving average of $61.48 and a 200-day simple moving average of $55.20. Bank of Nova Scotia has a fifty-two week low of $44.09 and a fifty-two week high of $65.52.

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

Wall Street Analyst Weigh In

A number of research analysts recently commented on BNS shares. Royal Bank Of Canada upped their price objective on Bank of Nova Scotia from $80.00 to $86.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 27th. Weiss Ratings reissued a “buy (b-)” rating on shares of Bank of Nova Scotia in a research note on Wednesday. Finally, Wall Street Zen raised Bank of Nova Scotia from a “sell” rating to a “hold” rating in a research note on Saturday, August 30th. Five research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Bank of Nova Scotia has an average rating of “Moderate Buy” and a consensus price target 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.