Bank of Nova Scotia (The) $BNS Shares Sold by K.J. Harrison & Partners Inc

K.J. Harrison & Partners Inc decreased its holdings in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 46.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,951 shares of the bank’s stock after selling 57,320 shares during the quarter. K.J. Harrison & Partners Inc’s holdings in Bank of Nova Scotia were worth $4,564,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of BNS. Swiss RE Ltd. acquired a new position in shares of Bank of Nova Scotia during the 4th quarter worth approximately $30,000. Maseco LLP acquired a new position in Bank of Nova Scotia in the 1st quarter valued at about $30,000. Brown Brothers Harriman & Co. purchased a new stake in shares of Bank of Nova Scotia in the 4th quarter valued at approximately $34,000. Quarry LP purchased a new stake in shares of Bank of Nova Scotia in the 3rd quarter valued at approximately $35,000. Finally, Virtus Advisers LLC acquired a new stake in shares of Bank of Nova Scotia during the 3rd quarter worth approximately $39,000. 49.13% of the stock is currently owned by institutional investors and hedge funds.

Bank of Nova Scotia Stock Performance

Shares of BNS stock opened at $85.36 on Friday. The firm’s 50 day moving average price is $81.05 and its 200-day moving average price is $76.02. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.04 and a current ratio of 1.04. Bank of Nova Scotia has a one year low of $54.31 and a one year high of $87.97. The firm has a market cap of $104.57 billion, a P/E ratio of 16.29, a P/E/G ratio of 1.06 and a beta of 1.11.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its quarterly earnings data on Wednesday, May 27th. The bank reported $1.47 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.05. The business had revenue of $7.24 billion during the quarter, compared to analysts’ expectations of $7.13 billion. Bank of Nova Scotia had a return on equity of 13.16% and a net margin of 13.38%.The company’s revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.52 earnings per share. As a group, equities research analysts predict that Bank of Nova Scotia will post 6.01 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently commented on BNS. Royal Bank Of Canada upped their price objective on Bank of Nova Scotia from $98.00 to $117.00 and gave the company a “sector perform” rating in a report on Thursday, May 28th. Weiss Ratings restated a “buy (b)” rating on shares of Bank of Nova Scotia in a research report on Friday, May 22nd. Finally, Canaccord Genuity Group downgraded Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 9th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company 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.