Lombard Odier Asset Management Switzerland SA Purchases 13,900 Shares of Bank of Nova Scotia (The) $BNS

Lombard Odier Asset Management Switzerland SA grew its position in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 13.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 119,581 shares of the bank’s stock after purchasing an additional 13,900 shares during the quarter. Lombard Odier Asset Management Switzerland SA’s holdings in Bank of Nova Scotia were worth $8,291,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. AQR Capital Management LLC boosted its position in Bank of Nova Scotia by 111.2% during the 1st quarter. AQR Capital Management LLC now owns 19,096 shares of the bank’s stock worth $911,000 after buying an additional 10,056 shares during the period. Sivia Capital Partners LLC acquired a new position in Bank of Nova Scotia in the 2nd quarter valued at approximately $330,000. EverSource Wealth Advisors LLC increased its position in Bank of Nova Scotia by 42.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,165 shares of the bank’s stock valued at $120,000 after acquiring an additional 649 shares during the period. Sei Investments Co. raised its stake in shares of Bank of Nova Scotia by 2.1% during the second quarter. Sei Investments Co. now owns 21,212 shares of the bank’s stock valued at $1,172,000 after acquiring an additional 434 shares during the last quarter. Finally, Quantinno Capital Management LP lifted its holdings in shares of Bank of Nova Scotia by 61.1% during the second quarter. Quantinno Capital Management LP now owns 66,962 shares of the bank’s stock worth $3,701,000 after purchasing an additional 25,400 shares during the period. 49.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BNS. Weiss Ratings reissued a “buy (b)” rating on shares of Bank of Nova Scotia in a research note on Friday, May 22nd. 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 research report on Thursday, May 28th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $117.00.

Bank of Nova Scotia Stock Performance

Shares of BNS stock opened at $87.03 on Friday. The stock has a market capitalization of $106.61 billion, a PE ratio of 16.61, a PEG ratio of 1.08 and a beta of 1.11. The business’s 50 day simple moving average is $84.26 and its 200 day simple moving average is $77.51. 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 has a one year low of $55.21 and a one year high of $90.47.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released its quarterly earnings results on Wednesday, May 27th. The bank reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.05. The firm had revenue of $7.24 billion during the quarter, compared to analyst estimates of $7.13 billion. Bank of Nova Scotia had a net margin of 13.38% and a return on equity of 13.16%. The company’s revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.52 EPS. As a group, research analysts forecast that Bank of Nova Scotia will post 6.01 earnings per share for the current year.

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.