Bank of Nova Scotia (The) $BNS Shares Sold by Cohen Investment Advisors LLC

Cohen Investment Advisors LLC reduced its position in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 7.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,018 shares of the bank’s stock after selling 585 shares during the quarter. Cohen Investment Advisors LLC’s holdings in Bank of Nova Scotia were worth $388,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in BNS. Compagnie Lombard Odier SCmA acquired a new stake in Bank of Nova Scotia during the 1st quarter worth about $52,000. MAI Capital Management boosted its position in Bank of Nova Scotia by 40.7% during the 1st quarter. MAI Capital Management now owns 1,211 shares of the bank’s stock worth $57,000 after acquiring an additional 350 shares during the period. SVB Wealth LLC acquired a new stake in Bank of Nova Scotia during the 1st quarter worth about $69,000. North Capital Inc. acquired a new stake in Bank of Nova Scotia during the 1st quarter worth about $81,000. Finally, Cromwell Holdings LLC boosted its position in Bank of Nova Scotia by 7.8% during the 2nd quarter. Cromwell Holdings LLC now owns 2,955 shares of the bank’s stock worth $163,000 after acquiring an additional 213 shares during the period. 49.13% of the stock is owned by institutional investors and hedge funds.

Bank of Nova Scotia Price Performance

Shares of Bank of Nova Scotia stock opened at $63.35 on Thursday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $78.60 billion, a price-to-earnings ratio of 17.03, a P/E/G ratio of 1.47 and a beta of 1.16. Bank of Nova Scotia has a 1-year low of $44.09 and a 1-year high of $65.52. The firm’s 50-day moving average price is $61.16 and its two-hundred day moving average price is $54.95.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its quarterly earnings data on Tuesday, August 26th. The bank reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.09. The firm had revenue of $6.85 billion for the quarter, compared to analysts’ expectations of $9.29 billion. Bank of Nova Scotia had a net margin of 9.74% and a return on equity of 11.61%. The company’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.63 earnings per share. On average, equities analysts predict that Bank of Nova Scotia will post 4.91 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently commented on BNS. Wall Street Zen upgraded shares of Bank of Nova Scotia from a “sell” rating to a “hold” rating in a report on Saturday, August 30th. Royal Bank Of Canada raised their target price on Bank of Nova Scotia from $80.00 to $86.00 and gave the company a “sector perform” rating in a report on Wednesday, August 27th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Bank of Nova Scotia in a report on Wednesday. Five equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $86.00.

Bank of Nova Scotia Company Profile

The Bank of Nova Scotia provides various banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally. It operates through Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets segments.