Louisbourg Investments Inc. Has $6.47 Million Stake in Bank of Nova Scotia (The) $BNS

Louisbourg Investments Inc. decreased its holdings in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 35.5% in the 2nd quarter, Holdings Channel.com reports. The firm owned 117,292 shares of the bank’s stock after selling 64,461 shares during the period. Bank of Nova Scotia comprises 1.4% of Louisbourg Investments Inc.’s holdings, making the stock its 23rd biggest position. Louisbourg Investments Inc.’s holdings in Bank of Nova Scotia were worth $6,474,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of BNS. GAMMA Investing LLC raised its stake in Bank of Nova Scotia by 4,643.2% in the 1st quarter. GAMMA Investing LLC now owns 9,012 shares of the bank’s stock worth $427,000 after purchasing an additional 8,822 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of Bank of Nova Scotia by 54.0% in the 1st quarter. Farther Finance Advisors LLC now owns 4,331 shares of the bank’s stock valued at $203,000 after buying an additional 1,518 shares in the last quarter. Compagnie Lombard Odier SCmA acquired a new position in shares of Bank of Nova Scotia in the 1st quarter valued at approximately $52,000. Wealth Enhancement Advisory Services LLC raised its position in shares of Bank of Nova Scotia by 134.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 53,015 shares of the bank’s stock valued at $2,514,000 after buying an additional 30,386 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC raised its position in shares of Bank of Nova Scotia by 14.8% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 4,634 shares of the bank’s stock valued at $220,000 after buying an additional 596 shares in the last quarter. Institutional investors and hedge funds own 49.13% of the company’s stock.

Bank of Nova Scotia Price Performance

BNS stock opened at $63.42 on Friday. The company has a 50 day simple moving average of $61.48 and a 200 day simple moving average of $55.16. The stock has a market cap of $78.68 billion, a price-to-earnings ratio of 17.05, a P/E/G ratio of 1.45 and a beta of 1.16. Bank of Nova Scotia has a 1 year low of $44.09 and a 1 year high of $65.52. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.03 and a quick ratio of 1.03.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last posted its earnings results on Tuesday, August 26th. The bank reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.09. Bank of Nova Scotia had a net margin of 9.74% and a return on equity of 11.61%. The firm had revenue of $6.85 billion for the quarter, compared to analyst estimates of $9.29 billion. During the same period in the previous year, the firm posted $1.63 EPS. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. Research analysts anticipate that Bank of Nova Scotia will post 4.91 EPS for the current fiscal year.

Analyst Ratings Changes

BNS has been the subject of several analyst reports. Royal Bank Of Canada boosted their target price on shares of Bank of Nova Scotia from $80.00 to $86.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 27th. Wall Street Zen upgraded shares of Bank of Nova Scotia from a “sell” rating to a “hold” rating in a research report on Saturday, August 30th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Bank of Nova Scotia in a research report on Wednesday. Five research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $86.00.

Bank of Nova Scotia Company Profile

The Bank of Nova Scotia provides various banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally. It operates through Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets segments.