Bank of Nova Scotia (The) $BNS Holdings Decreased by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. reduced its position in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 1.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 4,659,099 shares of the bank’s stock after selling 48,909 shares during the period. Bank of Nova Scotia accounts for about 2.1% of TD Waterhouse Canada Inc.’s holdings, making the stock its 6th largest holding. TD Waterhouse Canada Inc.’s holdings in Bank of Nova Scotia were worth $343,432,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Mondrian Investment Partners LTD purchased a new position in Bank of Nova Scotia in the third quarter valued at about $30,000. Quarry LP purchased a new position in Bank of Nova Scotia in the third quarter valued at about $35,000. Virtus Advisers LLC purchased a new position in Bank of Nova Scotia in the third quarter valued at about $39,000. Nisa Investment Advisors LLC purchased a new position in Bank of Nova Scotia in the fourth quarter valued at about $50,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in Bank of Nova Scotia in the third quarter valued at about $45,000. 49.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on BNS. TD Securities reissued a “hold” rating on shares of Bank of Nova Scotia in a research report on Tuesday, March 3rd. Weiss Ratings raised Bank of Nova Scotia from a “hold (c+)” rating to a “buy (b)” rating in a research report on Wednesday, February 25th. 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, Royal Bank Of Canada raised their price objective on Bank of Nova Scotia from $97.00 to $106.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 25th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $106.00.

Bank of Nova Scotia Stock Up 0.0%

NYSE:BNS opened at $76.57 on Monday. The company has a market capitalization of $94.10 billion, a price-to-earnings ratio of 15.92, a price-to-earnings-growth ratio of 0.93 and a beta of 1.10. Bank of Nova Scotia has a one year low of $47.06 and a one year high of $78.28. The stock has a 50-day simple moving average of $72.73 and a 200 day simple moving average of $70.89. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.05 and a current ratio of 1.05.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last posted its quarterly earnings results on Tuesday, February 24th. The bank reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.06. The business had revenue of $7.40 billion during the quarter, compared to the consensus estimate of $6.99 billion. Bank of Nova Scotia had a return on equity of 12.49% and a net margin of 12.40%.The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period last year, the firm earned $1.76 earnings per share. Sell-side analysts predict that Bank of Nova Scotia will post 4.91 EPS for the current fiscal year.

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.