Louisbourg Investments Inc. Has $5.70 Million Position in Bank of Nova Scotia (The) $BNS

Louisbourg Investments Inc. cut its stake in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 25.1% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor 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 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Mondrian Investment Partners LTD acquired a new stake in shares of Bank of Nova Scotia during the 3rd quarter valued at $30,000. Quarry LP acquired a new position in shares of Bank of Nova Scotia in the third quarter worth $35,000. Virtus Advisers LLC purchased a new stake in shares of Bank of Nova Scotia during the third quarter worth $39,000. Nisa Investment Advisors LLC purchased a new stake in shares of Bank of Nova Scotia during the fourth quarter worth $50,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in Bank of Nova Scotia during the third quarter valued at $45,000. Institutional investors and hedge funds own 49.13% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on BNS. Royal Bank Of Canada boosted their target price on Bank of Nova Scotia from $97.00 to $106.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 25th. Weiss Ratings upgraded Bank of Nova Scotia from a “hold (c+)” rating to a “buy (b)” rating in a report on Wednesday, February 25th. TD Securities reissued a “hold” rating on shares of Bank of Nova Scotia in a research note on Tuesday, March 3rd. Finally, Canaccord Genuity Group downgraded Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a report on Monday, March 9th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $106.00.

Bank of Nova Scotia Price Performance

NYSE BNS opened at $70.13 on Friday. Bank of Nova Scotia has a 1 year low of $44.09 and a 1 year high of $78.28. The company has a fifty day simple moving average of $73.29 and a 200 day simple moving average of $70.17. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.68. The company has a market cap of $86.36 billion, a P/E ratio of 14.58, a P/E/G ratio of 0.85 and a beta of 1.10.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last announced its earnings results on Tuesday, February 24th. The bank reported $1.48 EPS for the quarter, topping the consensus estimate of $1.42 by $0.06. The firm had revenue of $7.40 billion for the quarter, compared to the consensus estimate of $6.99 billion. Bank of Nova Scotia had a net margin of 12.40% and a return on equity of 12.49%. The business’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.76 EPS. On average, sell-side analysts predict that Bank of Nova Scotia will post 4.91 EPS for the current year.

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.