Burgundy Asset Management Ltd. Lowers Stock Holdings in The Bank of Nova Scotia (NYSE:BNS)

Burgundy Asset Management Ltd. lessened its position in shares of The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 1.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,217,857 shares of the bank's stock after selling 16,870 shares during the quarter. Burgundy Asset Management Ltd. owned about 0.10% of Bank of Nova Scotia worth $65,333,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Barclays PLC grew its holdings in shares of Bank of Nova Scotia by 27.5% during the 3rd quarter. Barclays PLC now owns 214,957 shares of the bank's stock worth $11,712,000 after purchasing an additional 46,421 shares during the period. Merit Financial Group LLC boosted its stake in Bank of Nova Scotia by 5.8% during the fourth quarter. Merit Financial Group LLC now owns 4,905 shares of the bank's stock worth $264,000 after buying an additional 271 shares during the period. Atomi Financial Group Inc. increased its position in shares of Bank of Nova Scotia by 28.3% during the fourth quarter. Atomi Financial Group Inc. now owns 11,065 shares of the bank's stock valued at $594,000 after acquiring an additional 2,439 shares during the last quarter. Magnus Financial Group LLC boosted its holdings in Bank of Nova Scotia by 4.1% in the fourth quarter. Magnus Financial Group LLC now owns 5,100 shares of the bank's stock valued at $274,000 after purchasing an additional 200 shares during the period. Finally, Cornerstone Wealth Management LLC grew its stake in Bank of Nova Scotia by 2.0% during the 4th quarter. Cornerstone Wealth Management LLC now owns 20,020 shares of the bank's stock worth $1,075,000 after purchasing an additional 401 shares in the last quarter. 49.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BNS. Cibc World Mkts cut shares of Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 18th. Royal Bank of Canada decreased their price objective on shares of Bank of Nova Scotia from $83.00 to $81.00 and set a "sector perform" rating for the company in a research report on Wednesday, February 26th. Bank of America lowered Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a report on Monday, March 31st. Finally, CIBC reaffirmed a "neutral" rating on shares of Bank of Nova Scotia in a research report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $81.00.

Bank of Nova Scotia Stock Performance

NYSE BNS traded down $0.60 during trading hours on Wednesday, hitting $52.13. The company had a trading volume of 594,600 shares, compared to its average volume of 1,955,135. The business has a 50 day moving average of $48.82 and a 200-day moving average of $51.09. The company has a market cap of $64.93 billion, a PE ratio of 12.06, a price-to-earnings-growth ratio of 1.16 and a beta of 1.11. The Bank of Nova Scotia has a 1-year low of $43.67 and a 1-year high of $57.07. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.03 and a current ratio of 1.03.

Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS last released its quarterly earnings results on Tuesday, May 27th. The bank reported $1.06 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.08). The firm had revenue of $6.59 billion for the quarter, compared to analyst estimates of $8.98 billion. Bank of Nova Scotia had a return on equity of 11.56% and a net margin of 10.20%. The company's quarterly revenue was up 8.8% on a year-over-year basis. During the same period last year, the firm earned $1.58 EPS. As a group, equities research analysts expect that The Bank of Nova Scotia will post 4.91 EPS for the current year.

Bank of Nova Scotia 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.