Guardian Partners Inc. Sells 5,910 Shares of Bank of Nova Scotia (The) $BNS

Guardian Partners Inc. cut its holdings in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 0.9% during the 1st quarter, HoldingsChannel.com reports. The fund owned 632,459 shares of the bank’s stock after selling 5,910 shares during the period. Bank of Nova Scotia accounts for approximately 3.7% of Guardian Partners Inc.’s portfolio, making the stock its 5th biggest position. Guardian Partners Inc.’s holdings in Bank of Nova Scotia were worth $43,859,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BNS. Swiss RE Ltd. bought a new stake in shares of Bank of Nova Scotia in the fourth quarter worth about $30,000. Maseco LLP bought a new position in shares of Bank of Nova Scotia during the 1st quarter valued at about $30,000. Brown Brothers Harriman & Co. bought a new position in shares of Bank of Nova Scotia during the 4th quarter valued at about $34,000. Quarry LP acquired a new position in shares of Bank of Nova Scotia in the 3rd quarter valued at approximately $35,000. Finally, Virtus Advisers LLC acquired a new position in shares of Bank of Nova Scotia in the 3rd quarter valued at approximately $39,000. 49.13% of the stock is owned by institutional investors and hedge funds.

Bank of Nova Scotia Stock Performance

BNS opened at $88.41 on Wednesday. The business’s 50-day moving average price is $84.68 and its two-hundred day moving average price is $77.75. Bank of Nova Scotia has a 1 year low of $55.21 and a 1 year high of $90.47. The company has a market capitalization of $108.29 billion, a price-to-earnings ratio of 16.87, a P/E/G ratio of 1.08 and a beta of 1.11. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.04 and a quick ratio of 1.04.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last posted its quarterly earnings data on Wednesday, May 27th. The bank reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.05. The company had revenue of $7.24 billion during the quarter, compared to analysts’ expectations of $7.13 billion. Bank of Nova Scotia had a return on equity of 13.16% and a net margin of 13.38%.Bank of Nova Scotia’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.52 earnings per share. Equities analysts expect that Bank of Nova Scotia will post 6.01 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on the stock. Royal Bank Of Canada raised their target price on shares of Bank of Nova Scotia from $98.00 to $117.00 and gave the stock a “sector perform” rating in a report on Thursday, May 28th. Weiss Ratings reiterated a “buy (b)” rating on shares of Bank of Nova Scotia in a report on Friday, May 22nd. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $117.00.

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.