Guardian Capital LP Purchases 33,536 Shares of Bank of Nova Scotia (The) $BNS

Guardian Capital LP lifted its position in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 7.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 496,676 shares of the bank’s stock after purchasing an additional 33,536 shares during the quarter. Bank of Nova Scotia accounts for 1.0% of Guardian Capital LP’s investment portfolio, making the stock its 28th largest holding. Guardian Capital LP’s holdings in Bank of Nova Scotia were worth $32,123,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Bank of Nova Scotia by 1.9% during the third quarter. Vanguard Group Inc. now owns 56,068,464 shares of the bank’s stock worth $3,625,499,000 after buying an additional 1,063,127 shares during the last quarter. Canerector Inc. increased its position in shares of Bank of Nova Scotia by 8,899.0% during the third quarter. Canerector Inc. now owns 26,997,000 shares of the bank’s stock worth $1,745,356,000 after acquiring an additional 26,697,000 shares in the last quarter. TD Asset Management Inc raised its holdings in shares of Bank of Nova Scotia by 1.3% in the 3rd quarter. TD Asset Management Inc now owns 18,364,021 shares of the bank’s stock worth $1,187,709,000 after acquiring an additional 229,990 shares during the last quarter. Norges Bank acquired a new stake in shares of Bank of Nova Scotia in the 2nd quarter worth about $838,738,000. Finally, Scotia Capital Inc. lifted its position in Bank of Nova Scotia by 0.6% in the 2nd quarter. Scotia Capital Inc. now owns 14,231,690 shares of the bank’s stock valued at $786,729,000 after acquiring an additional 90,158 shares in the last quarter. Institutional investors and hedge funds own 49.13% of the company’s stock.

Bank of Nova Scotia Stock Down 1.1%

Bank of Nova Scotia stock opened at $72.14 on Friday. Bank of Nova Scotia has a fifty-two week low of $44.09 and a fifty-two week high of $78.28. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.05 and a current ratio of 1.05. The firm’s 50-day simple moving average is $74.74 and its 200 day simple moving average is $69.09. The stock has a market cap of $88.93 billion, a PE ratio of 15.00, a price-to-earnings-growth ratio of 0.88 and a beta of 1.10.

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

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Raymond James Financial assumed coverage on Bank of Nova Scotia in a report on Tuesday, November 25th. They set an “outperform” rating for the company. TD Securities restated a “hold” rating on shares of Bank of Nova Scotia in a report on Tuesday. Royal Bank Of Canada lifted 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 report on Wednesday, February 25th. Finally, Weiss Ratings upgraded Bank of Nova Scotia from a “hold (c+)” rating to a “buy (b)” rating in a report on Wednesday, February 25th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Bank of Nova Scotia currently has a consensus rating of “Hold” and an average target price of $106.00.

Bank of Nova Scotia 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.