Cumberland Partners Ltd Has $36.43 Million Stock Holdings in Bank of Nova Scotia (The) $BNS

Cumberland Partners Ltd lessened its stake in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 4.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 526,323 shares of the bank’s stock after selling 26,496 shares during the quarter. Bank of Nova Scotia comprises 2.8% of Cumberland Partners Ltd’s investment portfolio, making the stock its 11th biggest holding. Cumberland Partners Ltd’s holdings in Bank of Nova Scotia were worth $36,431,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently made changes to their positions in the company. Maseco LLP purchased a new position in Bank of Nova Scotia in the first quarter valued at about $30,000. Swiss RE Ltd. bought a new stake in shares of Bank of Nova Scotia in the 4th quarter worth approximately $30,000. Brown Brothers Harriman & Co. bought a new stake in shares of Bank of Nova Scotia in the 4th quarter worth approximately $34,000. Quarry LP purchased a new position in Bank of Nova Scotia in the third quarter valued at approximately $35,000. Finally, Virtus Advisers LLC purchased a new position in Bank of Nova Scotia in the third quarter valued at approximately $39,000. 49.13% of the stock is currently owned by institutional investors and hedge funds.

Bank of Nova Scotia Price Performance

Shares of NYSE BNS opened at $87.03 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.04 and a current ratio of 1.04. Bank of Nova Scotia has a fifty-two week low of $55.21 and a fifty-two week high of $90.47. The stock has a market cap of $106.61 billion, a PE ratio of 16.61, a price-to-earnings-growth ratio of 1.07 and a beta of 1.11. The stock has a fifty day moving average of $84.26 and a 200-day moving average of $77.51.

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

Wall Street Analyst Weigh In

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

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.