Guardian Partners Inc. Sells 5,910 Shares of Bank of Nova Scotia (The) $BNS

Guardian Partners Inc. trimmed its position in Bank of Nova Scotia (The) (NYSE:BNSFree Report) (TSE:BNS) by 0.9% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 632,459 shares of the bank’s stock after selling 5,910 shares during the period. Bank of Nova Scotia comprises approximately 3.7% of Guardian Partners Inc.’s holdings, making the stock its 5th largest holding. Guardian Partners Inc. owned about 0.05% of Bank of Nova Scotia worth $43,859,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Bank of Nova Scotia by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 57,237,537 shares of the bank’s stock valued at $4,221,440,000 after acquiring an additional 1,169,073 shares during the last quarter. TD Asset Management Inc raised its holdings in Bank of Nova Scotia by 1.7% during the 4th quarter. TD Asset Management Inc now owns 18,674,585 shares of the bank’s stock worth $1,379,120,000 after purchasing an additional 310,564 shares during the last quarter. Norges Bank acquired a new position in Bank of Nova Scotia during the 4th quarter valued at about $1,368,456,000. FIL Ltd lifted its position in Bank of Nova Scotia by 49.5% during the 4th quarter. FIL Ltd now owns 16,489,540 shares of the bank’s stock valued at $1,216,157,000 after purchasing an additional 5,461,052 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Bank of Nova Scotia by 7.0% in the 4th quarter. Geode Capital Management LLC now owns 12,259,989 shares of the bank’s stock valued at $923,232,000 after purchasing an additional 799,474 shares during the last quarter. 49.13% of the stock is owned by institutional investors and hedge funds.

Bank of Nova Scotia Price Performance

Shares of BNS opened at $88.41 on Wednesday. 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 has a 1 year low of $55.21 and a 1 year high of $90.47. The stock has a market cap of $108.29 billion, a P/E ratio of 16.87, a price-to-earnings-growth ratio of 1.08 and a beta of 1.11. The stock’s 50-day moving average price is $84.68 and its two-hundred day moving average price is $77.75.

Bank of Nova Scotia (NYSE:BNSGet Free Report) (TSE:BNS) last announced its quarterly earnings results on Wednesday, May 27th. The bank reported $1.47 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.05. The company had revenue of $7.24 billion during 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%.Bank of Nova Scotia’s revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.52 EPS. On average, equities analysts predict that Bank of Nova Scotia will post 6.01 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on BNS shares. Royal Bank Of Canada lifted their price target on shares of 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. Weiss Ratings restated a “buy (b)” rating on shares of Bank of Nova Scotia in a report on Friday, May 22nd. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $117.00.

Check Out Our Latest Research Report on Bank of Nova Scotia

About Bank of Nova Scotia

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Bank of Nova Scotia (NYSE:BNS)

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