Lombard Odier Asset Management Switzerland SA Purchases 13,900 Shares of Bank of Nova Scotia (The) $BNS

Lombard Odier Asset Management Switzerland SA boosted its position in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 13.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 119,581 shares of the bank’s stock after buying an additional 13,900 shares during the period. Lombard Odier Asset Management Switzerland SA’s holdings in Bank of Nova Scotia were worth $8,291,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Swiss RE Ltd. acquired a new position in shares of Bank of Nova Scotia in the 4th quarter valued at approximately $30,000. Maseco LLP acquired a new stake in shares of Bank of Nova Scotia during the 1st quarter worth approximately $30,000. Brown Brothers Harriman & Co. bought a new position in Bank of Nova Scotia in the fourth quarter valued at approximately $34,000. Quarry LP bought a new position in Bank of Nova Scotia in the third quarter valued at approximately $35,000. Finally, Virtus Advisers LLC acquired a new position in Bank of Nova Scotia during the third quarter valued at approximately $39,000. 49.13% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Weiss Ratings restated a “buy (b)” rating on shares of Bank of Nova Scotia in a research note on Friday, May 22nd. Royal Bank Of Canada lifted their price target on 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. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $117.00.

Bank of Nova Scotia Trading Up 0.5%

BNS opened at $87.03 on Friday. The company’s 50 day moving average is $84.26 and its 200-day moving average is $77.51. Bank of Nova Scotia has a 1-year low of $55.21 and a 1-year high of $90.47. 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 company has a market cap of $106.61 billion, a P/E ratio of 16.61, a PEG ratio of 1.08 and a beta of 1.11.

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