Westerkirk Capital Inc. Has $261,000 Stock Position in Bank of Nova Scotia (The) $BNS

Westerkirk Capital Inc. trimmed its position in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 93.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,536 shares of the bank’s stock after selling 48,800 shares during the quarter. Westerkirk Capital Inc.’s holdings in Bank of Nova Scotia were worth $261,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cerity Partners LLC increased its position in Bank of Nova Scotia by 7.1% in the fourth quarter. Cerity Partners LLC now owns 42,380 shares of the bank’s stock worth $3,123,000 after purchasing an additional 2,801 shares during the period. Franklin Resources Inc. increased its position in Bank of Nova Scotia by 7.9% in the fourth quarter. Franklin Resources Inc. now owns 1,678,072 shares of the bank’s stock worth $123,766,000 after purchasing an additional 122,852 shares during the period. O Shaughnessy Asset Management LLC increased its position in Bank of Nova Scotia by 5.5% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 243,615 shares of the bank’s stock worth $17,963,000 after purchasing an additional 12,701 shares during the period. Manchester Capital Management LLC increased its position in Bank of Nova Scotia by 176.3% in the fourth quarter. Manchester Capital Management LLC now owns 2,528 shares of the bank’s stock worth $186,000 after purchasing an additional 1,613 shares during the period. Finally, Syon Capital LLC increased its position in Bank of Nova Scotia by 6.0% in the fourth quarter. Syon Capital LLC now owns 7,561 shares of the bank’s stock worth $557,000 after purchasing an additional 430 shares during the period. 49.13% of the stock is currently owned by institutional investors and hedge funds.

Bank of Nova Scotia Price Performance

Bank of Nova Scotia stock opened at $81.58 on Wednesday. The firm has a market capitalization of $99.94 billion, a P/E ratio of 15.57, a PEG ratio of 0.99 and a beta of 1.12. Bank of Nova Scotia has a 1 year low of $53.72 and a 1 year high of $82.22. The business has a 50-day moving average of $76.34 and a 200-day moving average of $74.07. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.69.

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, beating the consensus estimate 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 business had revenue of $7.24 billion during the quarter, compared to analyst estimates of $7.13 billion. During the same period in the previous year, the firm earned $1.52 EPS. Bank of Nova Scotia’s quarterly revenue was up 8.3% compared to the same quarter last year. On average, equities analysts anticipate that Bank of Nova Scotia will post 6.05 EPS for the current year.

Wall Street Analyst Weigh In

BNS has been the subject of several analyst reports. TD Securities restated a “hold” rating on shares of Bank of Nova Scotia in a research report on Tuesday, March 3rd. Royal Bank Of Canada boosted their target price on Bank of Nova Scotia from $98.00 to $117.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 28th. Canaccord Genuity Group lowered Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 9th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Bank of Nova Scotia in a research report on Friday, May 22nd. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target 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.