Louisbourg Investments Inc. Purchases 12,283 Shares of Bank of Nova Scotia (The) $BNS

Louisbourg Investments Inc. grew its holdings in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 15.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 89,518 shares of the bank’s stock after buying an additional 12,283 shares during the quarter. Louisbourg Investments Inc.’s holdings in Bank of Nova Scotia were worth $6,195,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the business. Prospera Financial Services Inc lifted its position in shares of Bank of Nova Scotia by 3.9% during the fourth quarter. Prospera Financial Services Inc now owns 4,625 shares of the bank’s stock worth $341,000 after purchasing an additional 173 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Bank of Nova Scotia by 9.6% in the third quarter. EverSource Wealth Advisors LLC now owns 2,373 shares of the bank’s stock worth $153,000 after purchasing an additional 208 shares during the last quarter. Larson Financial Group LLC increased its stake in Bank of Nova Scotia by 22.3% in the 4th quarter. Larson Financial Group LLC now owns 1,280 shares of the bank’s stock worth $94,000 after buying an additional 233 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in Bank of Nova Scotia by 8.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,193 shares of the bank’s stock valued at $235,000 after buying an additional 239 shares in the last quarter. Finally, Parallel Advisors LLC boosted its position in Bank of Nova Scotia by 8.5% in the 3rd quarter. Parallel Advisors LLC now owns 3,326 shares of the bank’s stock valued at $215,000 after buying an additional 261 shares during the period. Institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Trading Down 0.2%

BNS opened at $86.32 on Friday. 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 firm has a market cap of $105.74 billion, a price-to-earnings ratio of 16.47, a PEG ratio of 1.07 and a beta of 1.12. Bank of Nova Scotia has a 12 month low of $54.29 and a 12 month high of $87.97. The stock has a fifty day moving average price of $80.01 and a 200-day moving average price of $75.54.

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 for the quarter, beating analysts’ consensus estimates of $1.42 by $0.05. Bank of Nova Scotia had a return on equity of 13.16% and a net margin of 13.38%.The company had revenue of $7.24 billion for the quarter, compared to the consensus estimate of $7.13 billion. During the same quarter last year, the company earned $1.52 earnings per share. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Bank of Nova Scotia will post 6.01 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BNS has been the topic of a number of research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Bank of Nova Scotia in a research report on Friday, May 22nd. TD Securities reissued a “hold” rating on shares of Bank of Nova Scotia in a research note on Tuesday, March 3rd. Royal Bank Of Canada lifted 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 report on Thursday, May 28th. Finally, Canaccord Genuity Group cut Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a report on Monday, March 9th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $117.00.

Bank of Nova Scotia Company 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.