CenterBook Partners LP Sells 24,705 Shares of Bank of Nova Scotia (The) $BNS

CenterBook Partners LP trimmed its holdings in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 54.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 20,321 shares of the bank’s stock after selling 24,705 shares during the quarter. CenterBook Partners LP’s holdings in Bank of Nova Scotia were worth $1,497,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of BNS. AQR Capital Management LLC boosted its stake in shares of Bank of Nova Scotia by 111.2% in the first quarter. AQR Capital Management LLC now owns 19,096 shares of the bank’s stock valued at $911,000 after buying an additional 10,056 shares during the period. Sivia Capital Partners LLC bought a new stake in shares of Bank of Nova Scotia in the second quarter valued at approximately $330,000. EverSource Wealth Advisors LLC boosted its stake in shares of Bank of Nova Scotia by 42.8% in the second quarter. EverSource Wealth Advisors LLC now owns 2,165 shares of the bank’s stock valued at $120,000 after buying an additional 649 shares during the period. Sei Investments Co. boosted its stake in shares of Bank of Nova Scotia by 2.1% in the second quarter. Sei Investments Co. now owns 21,212 shares of the bank’s stock valued at $1,172,000 after buying an additional 434 shares during the period. Finally, Quantinno Capital Management LP boosted its stake in shares of Bank of Nova Scotia by 61.1% in the second quarter. Quantinno Capital Management LP now owns 66,962 shares of the bank’s stock valued at $3,701,000 after buying an additional 25,400 shares during the period. 49.13% of the stock is owned by institutional investors.

Bank of Nova Scotia Trading Up 0.8%

BNS opened at $81.58 on Wednesday. The company has a market cap of $99.94 billion, a P/E ratio of 15.57, a PEG ratio of 0.99 and a beta of 1.12. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.69. The company’s 50 day moving average is $76.34 and its 200-day moving average is $74.07. Bank of Nova Scotia has a 1-year low of $53.72 and a 1-year high of $82.22.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released its quarterly earnings data on Wednesday, May 27th. The bank reported $1.47 earnings per share (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 business had revenue of $7.24 billion during the quarter, compared to analysts’ expectations of $7.13 billion. During the same period in the prior year, the company earned $1.52 EPS. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. Equities research analysts predict that Bank of Nova Scotia will post 6.05 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

BNS has been the topic of a number of recent analyst reports. Royal Bank Of Canada raised their price target 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. Canaccord Genuity Group cut Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 9th. Weiss Ratings restated a “buy (b)” rating on shares of Bank of Nova Scotia in a research report on Friday, May 22nd. Finally, TD Securities reaffirmed a “hold” rating on shares of Bank of Nova Scotia in a report on Tuesday, March 3rd. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average 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.