Pictet Asset Management Holding SA Sells 22,794 Shares of Bank of Nova Scotia (The) $BNS

Pictet Asset Management Holding SA trimmed its holdings in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 2.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 763,160 shares of the bank’s stock after selling 22,794 shares during the quarter. Pictet Asset Management Holding SA owned about 0.06% of Bank of Nova Scotia worth $52,719,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of BNS. Connor Clark & Lunn Investment Management Ltd. increased its position in Bank of Nova Scotia by 30.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,690,883 shares of the bank’s stock valued at $497,197,000 after buying an additional 1,772,608 shares in the last quarter. Canerector Inc. boosted its holdings in Bank of Nova Scotia by 8,899.0% in the third quarter. Canerector Inc. now owns 26,997,000 shares of the bank’s stock worth $1,745,356,000 after acquiring an additional 26,697,000 shares in the last quarter. Mn Services Vermogensbeheer B.V. grew its stake in shares of Bank of Nova Scotia by 17.0% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 285,843 shares of the bank’s stock worth $21,109,000 after acquiring an additional 41,443 shares during the last quarter. HAP Trading LLC purchased a new stake in shares of Bank of Nova Scotia in the second quarter worth $3,926,000. Finally, Russell Investments Group Ltd. increased its holdings in shares of Bank of Nova Scotia by 32.2% during the third quarter. Russell Investments Group Ltd. now owns 1,669,108 shares of the bank’s stock valued at $108,149,000 after acquiring an additional 406,646 shares in the last quarter. 49.13% of the stock is owned by hedge funds and other institutional investors.

Bank of Nova Scotia Trading Up 0.5%

Bank of Nova Scotia stock opened at $86.61 on Tuesday. Bank of Nova Scotia has a one year low of $54.29 and a one year high of $87.97. The business’s fifty day moving average is $80.24 and its 200 day moving average is $75.66. The stock has a market capitalization of $106.09 billion, a PE ratio of 16.53, a price-to-earnings-growth ratio of 1.07 and a beta of 1.12. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.04 and a quick ratio of 1.04.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its earnings results on Wednesday, May 27th. The bank reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.05. The business had revenue of $7.24 billion during the quarter, compared to analyst estimates 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 quarter in the previous year, the firm earned $1.52 EPS. On average, sell-side analysts predict that Bank of Nova Scotia will post 6.01 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. TD Securities reiterated a “hold” rating on shares of Bank of Nova Scotia in a research note on Tuesday, March 3rd. Royal Bank Of Canada raised their price objective on shares of Bank of Nova Scotia from $98.00 to $117.00 and gave the company a “sector perform” rating in a research note on Thursday, May 28th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Bank of Nova Scotia in a report on Friday, May 22nd. Finally, Canaccord Genuity Group downgraded shares of Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 9th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target 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.