Lombard Odier Asset Management Switzerland SA Sells 15,400 Shares of Bank of Nova Scotia (The) $BNS

Lombard Odier Asset Management Switzerland SA lessened its holdings in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 12.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 105,681 shares of the bank’s stock after selling 15,400 shares during the period. Lombard Odier Asset Management Switzerland SA’s holdings in Bank of Nova Scotia were worth $7,795,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Maryland State Retirement & Pension System lifted its stake in shares of Bank of Nova Scotia by 1.2% in the 4th quarter. Maryland State Retirement & Pension System now owns 205,623 shares of the bank’s stock worth $15,173,000 after purchasing an additional 2,511 shares during the period. State of Wisconsin Investment Board bought a new position in shares of Bank of Nova Scotia in the 4th quarter worth approximately $35,284,000. Captrust Financial Advisors lifted its stake in shares of Bank of Nova Scotia by 1.3% in the 4th quarter. Captrust Financial Advisors now owns 40,504 shares of the bank’s stock worth $2,985,000 after purchasing an additional 506 shares during the period. Magnetar Financial LLC bought a new position in shares of Bank of Nova Scotia in the 4th quarter worth approximately $517,000. Finally, Alberta Investment Management Corp bought a new position in shares of Bank of Nova Scotia in the 4th quarter worth approximately $121,032,000. Institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Price Performance

NYSE BNS opened at $85.50 on Wednesday. Bank of Nova Scotia has a 12 month low of $53.74 and a 12 month high of $85.69. The stock has a market cap of $104.73 billion, a price-to-earnings ratio of 16.32, a PEG ratio of 1.04 and a beta of 1.12. The company’s 50 day moving average is $77.77 and its two-hundred day moving average is $74.65. 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 released its earnings results on Wednesday, May 27th. The bank reported $1.47 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.05. Bank of Nova Scotia had a net margin of 13.38% and a return on equity of 13.16%. The company had revenue of $7.24 billion for the quarter, compared to analysts’ expectations of $7.13 billion. During the same quarter last year, the business earned $1.52 EPS. The firm’s revenue was up 8.3% compared to the same quarter last year. As a group, research analysts anticipate that Bank of Nova Scotia will post 6.05 earnings per share for the current year.

Analyst Ratings Changes

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