Guardian Capital LP Boosts Stock Position in Bank of Nova Scotia (The) $BNS

Guardian Capital LP raised its holdings in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 7.2% in the third quarter, Holdings Channel reports. The firm owned 496,676 shares of the bank’s stock after purchasing an additional 33,536 shares during the period. Bank of Nova Scotia accounts for 1.0% of Guardian Capital LP’s investment portfolio, making the stock its 28th largest holding. Guardian Capital LP’s holdings in Bank of Nova Scotia were worth $32,123,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in BNS. Mondrian Investment Partners LTD bought a new stake in shares of Bank of Nova Scotia during the 3rd quarter worth $30,000. Cypress Capital Management LLC WY bought a new position in Bank of Nova Scotia during the second quarter valued at about $33,000. Smartleaf Asset Management LLC increased its holdings in Bank of Nova Scotia by 3,304.3% during the third quarter. Smartleaf Asset Management LLC now owns 783 shares of the bank’s stock worth $51,000 after buying an additional 760 shares during the last quarter. VSM Wealth Advisory LLC purchased a new stake in Bank of Nova Scotia during the second quarter worth about $55,000. Finally, Toth Financial Advisory Corp bought a new stake in Bank of Nova Scotia in the third quarter worth about $67,000. 49.13% of the stock is owned by hedge funds and other institutional investors.

Bank of Nova Scotia Trading Down 1.1%

Shares of Bank of Nova Scotia stock opened at $72.14 on Friday. The stock has a market capitalization of $88.93 billion, a P/E ratio of 15.00, a P/E/G ratio of 0.88 and a beta of 1.10. Bank of Nova Scotia has a 52-week low of $44.09 and a 52-week high of $78.28. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.05 and a current ratio of 1.05. The stock’s 50-day simple moving average is $74.74 and its 200 day simple moving average is $69.09.

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

Wall Street Analyst Weigh In

A number of research firms have weighed in on BNS. TD Securities reiterated a “hold” rating on shares of Bank of Nova Scotia in a research note on Tuesday. Royal Bank Of Canada raised their price target on shares of Bank of Nova Scotia from $97.00 to $106.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 25th. Weiss Ratings upgraded Bank of Nova Scotia from a “hold (c+)” rating to a “buy (b)” rating in a research note on Wednesday, February 25th. Finally, Raymond James Financial started coverage on Bank of Nova Scotia in a report on Tuesday, November 25th. They set an “outperform” rating for the company. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $106.00.

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.