Lombard Odier Asset Management Switzerland SA Sells 15,400 Shares of Bank of Nova Scotia (The) $BNS

Lombard Odier Asset Management Switzerland SA lowered its stake in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 12.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 105,681 shares of the bank’s stock after selling 15,400 shares during the period. Lombard Odier Asset Management Switzerland SA’s holdings in Bank of Nova Scotia were worth $7,795,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Citigroup Inc. raised its position in shares of Bank of Nova Scotia by 55.4% during the third quarter. Citigroup Inc. now owns 1,517,072 shares of the bank’s stock valued at $98,118,000 after buying an additional 540,526 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Bank of Nova Scotia by 30.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,690,883 shares of the bank’s stock valued at $497,197,000 after buying an additional 1,772,608 shares during the last quarter. Canerector Inc. raised 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 valued at $1,745,356,000 after buying an additional 26,697,000 shares during the last quarter. Mn Services Vermogensbeheer B.V. raised its position in shares of Bank of Nova Scotia by 17.0% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 285,843 shares of the bank’s stock valued at $21,109,000 after buying an additional 41,443 shares during the last quarter. Finally, HAP Trading LLC bought a new stake in shares of Bank of Nova Scotia in the second quarter worth about $3,926,000. Institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Trading Up 1.0%

BNS opened at $85.50 on Wednesday. The firm has a market cap of $104.73 billion, a P/E ratio of 16.32, a P/E/G ratio of 1.04 and a beta of 1.12. Bank of Nova Scotia has a 12 month low of $53.74 and a 12 month high of $85.69. 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 stock has a 50-day moving average of $77.77 and a 200 day moving average of $74.65.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released its quarterly earnings results on Wednesday, May 27th. The bank reported $1.47 EPS for the quarter, topping the consensus estimate of $1.42 by $0.05. The company had revenue of $7.24 billion during the quarter, compared to analyst estimates 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 revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the business posted $1.52 earnings per share. As a group, research analysts forecast that Bank of Nova Scotia will post 6.05 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on BNS shares. Canaccord Genuity Group cut Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a report on Monday, March 9th. Royal Bank Of Canada lifted their target price on Bank of Nova Scotia from $98.00 to $117.00 and gave the stock a “sector perform” rating in a report on Thursday, May 28th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Bank of Nova Scotia in a report on Friday, May 22nd. Finally, TD Securities reaffirmed a “hold” rating on shares of Bank of Nova Scotia in a report on Tuesday, March 3rd. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Bank of Nova Scotia presently has an average rating of “Hold” and an average target price of $117.00.

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.