Oddo BHF Asset Management Sas Has $5.07 Million Stake in Bank of Nova Scotia (The) $BNS

Key Points

• Oddo BHF Asset Management reduced its Bank of Nova Scotia stake by 27.2% in the first quarter, selling 27,300 shares and retaining 73,100 shares valued at approximately $5.07 million. Institutional investors collectively own 49.13% of BNS.
• Bank of Nova Scotia reported quarterly EPS of $1.47, beating estimates of $1.42, while revenue rose 8.3% year over year to $7.24 billion. Analysts expect full-year EPS of $6.01.
• Analyst sentiment remains mixed, with two Buy ratings and three Holds; the consensus rating is Hold and the average price target is $117, compared with a recent share price of $86.08.

Oddo BHF Asset Management Sas decreased its holdings in shares of Bank of Nova Scotia (The) (NYSE:BNS - Free Report) TSE: BNS by 27.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,100 shares of the bank's stock after selling 27,300 shares during the period. Oddo BHF Asset Management Sas' holdings in Bank of Nova Scotia were worth $5,067,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Prospera Financial Services Inc increased its position in Bank of Nova Scotia by 3.9% in the 4th quarter. Prospera Financial Services Inc now owns 4,625 shares of the bank's stock valued at $341,000 after buying an additional 173 shares in the last quarter. Larson Financial Group LLC boosted its holdings in Bank of Nova Scotia by 22.3% in the fourth quarter. Larson Financial Group LLC now owns 1,280 shares of the bank's stock worth $94,000 after acquiring an additional 233 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Bank of Nova Scotia by 8.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,193 shares of the bank's stock worth $235,000 after acquiring an additional 239 shares in the last quarter. Parallel Advisors LLC grew its stake in Bank of Nova Scotia by 8.5% in the third quarter. Parallel Advisors LLC now owns 3,326 shares of the bank's stock valued at $215,000 after acquiring an additional 261 shares during the period. Finally, Kathmere Capital Management LLC increased its holdings in shares of Bank of Nova Scotia by 8.5% during the first quarter. Kathmere Capital Management LLC now owns 3,579 shares of the bank's stock valued at $248,000 after acquiring an additional 281 shares in the last quarter. Institutional investors and hedge funds own 49.13% of the company's stock.

Bank of Nova Scotia Price Performance

BNS opened at $86.08 on Thursday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.04 and a quick ratio of 1.04. The company has a market capitalization of $105.44 billion, a price-to-earnings ratio of 16.43, a P/E/G ratio of 1.09 and a beta of 1.11. The firm's fifty day moving average price is $84.82 and its two-hundred day moving average price is $77.84. Bank of Nova Scotia has a 1 year low of $55.21 and a 1 year high of $90.47.

Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS last announced its earnings results on Wednesday, May 27th. The bank reported $1.47 EPS for the quarter, beating the consensus estimate 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 company had revenue of $7.24 billion during the quarter, compared to the consensus estimate of $7.13 billion. During the same quarter in the prior year, the company posted $1.52 earnings per share. The firm's revenue for the quarter was up 8.3% on a year-over-year basis. As a group, analysts anticipate that Bank of Nova Scotia will post 6.01 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on BNS. Royal Bank Of Canada upped 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. Weiss Ratings restated a "buy (b)" rating on shares of Bank of Nova Scotia in a report on Friday, May 22nd. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $117.00.

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.

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