Bank of Nova Scotia (The) $BNS is Lincluden Management Ltd.’s 5th Largest Position

Lincluden Management Ltd. trimmed its stake in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 2.2% in the 2nd quarter, HoldingsChannel reports. The firm owned 764,860 shares of the bank’s stock after selling 17,194 shares during the quarter. Bank of Nova Scotia makes up about 4.7% of Lincluden Management Ltd.’s portfolio, making the stock its 5th biggest position. Lincluden Management Ltd.’s holdings in Bank of Nova Scotia were worth $42,255,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of BNS. Compagnie Lombard Odier SCmA purchased a new stake in shares of Bank of Nova Scotia during the first quarter valued at $52,000. MAI Capital Management lifted its holdings in shares of Bank of Nova Scotia by 40.7% during the first quarter. MAI Capital Management now owns 1,211 shares of the bank’s stock valued at $57,000 after purchasing an additional 350 shares during the last quarter. SVB Wealth LLC purchased a new stake in shares of Bank of Nova Scotia during the first quarter valued at $69,000. North Capital Inc. purchased a new stake in shares of Bank of Nova Scotia during the first quarter valued at $81,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Bank of Nova Scotia by 11.2% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,343 shares of the bank’s stock valued at $159,000 after purchasing an additional 336 shares during the last quarter. 49.13% of the stock is owned by hedge funds and other institutional investors.

Bank of Nova Scotia Stock Performance

Shares of BNS stock opened at $63.42 on Friday. 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 has a fifty-two week low of $44.09 and a fifty-two week high of $65.52. The stock’s 50-day moving average is $61.48 and its two-hundred day moving average is $55.20. The firm has a market cap of $78.68 billion, a P/E ratio of 17.05, a PEG ratio of 1.45 and a beta of 1.16.

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

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Bank of Nova Scotia in a research note on Wednesday. Wall Street Zen raised Bank of Nova Scotia from a “sell” rating to a “hold” rating in a research note on Saturday, August 30th. Finally, Royal Bank Of Canada increased their price objective on Bank of Nova Scotia from $80.00 to $86.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 27th. Five analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average 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.