Bank of Nova Scotia (The) $BNS Stake Reduced by Value Partners Investments Inc.

Value Partners Investments Inc. reduced its position in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 17.4% in the 1st quarter, HoldingsChannel.com reports. The fund owned 811,628 shares of the bank’s stock after selling 171,009 shares during the period. Bank of Nova Scotia accounts for 4.3% of Value Partners Investments Inc.’s portfolio, making the stock its 10th biggest position. Value Partners Investments Inc.’s holdings in Bank of Nova Scotia were worth $56,172,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Maseco LLP purchased a new position in shares of Bank of Nova Scotia in the 1st quarter valued at $30,000. Swiss RE Ltd. acquired a new position in Bank of Nova Scotia during the 4th quarter valued at about $30,000. Brown Brothers Harriman & Co. acquired a new stake in Bank of Nova Scotia in the fourth quarter worth about $34,000. Quarry LP purchased 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 stake in Bank of Nova Scotia in the 3rd quarter worth approximately $39,000. 49.13% of the stock is owned by hedge funds and other institutional investors.

Bank of Nova Scotia Stock Down 0.2%

Shares of BNS opened at $86.32 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.69. The firm has a market cap of $105.74 billion, a P/E ratio of 16.47, a PEG ratio of 1.07 and a beta of 1.12. The stock’s 50 day moving average is $80.01 and its two-hundred day moving average is $75.54. Bank of Nova Scotia has a 12 month low of $54.29 and a 12 month high of $87.97.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last announced its earnings results on Wednesday, May 27th. The bank reported $1.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.05. Bank of Nova Scotia had a return on equity of 13.16% and a net margin of 13.38%.The firm had revenue of $7.24 billion for the quarter, compared to analyst estimates of $7.13 billion. During the same quarter last year, the firm posted $1.52 EPS. The business’s revenue was up 8.3% on a year-over-year basis. Analysts predict that Bank of Nova Scotia will post 6.01 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on BNS shares. Royal Bank Of Canada upped their price target on shares of Bank of Nova Scotia from $98.00 to $117.00 and gave the company a “sector perform” rating in a research note on Thursday, May 28th. TD Securities reiterated a “hold” rating on shares of Bank of Nova Scotia in a research note on Tuesday, March 3rd. Canaccord Genuity Group cut Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 9th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Bank of Nova Scotia in a research report on Friday, May 22nd. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Bank of Nova Scotia presently has a consensus rating of “Hold” and an average target price of $117.00.

About Bank of Nova Scotia

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.