TD Waterhouse Canada Inc. Sells 48,909 Shares of Bank of Nova Scotia (The) $BNS

Key Points

• TD Waterhouse Canada trimmed its position in Bank of Nova Scotia by 1.0%, selling 48,909 shares and leaving it with 4,659,099 shares (about 0.38% of BNS, valued at $343.4M), which is the fund's 6th-largest holding (~2.1% of its portfolio).
• Scotiabank beat quarterly estimates with EPS of $1.48 vs. $1.42 and revenue of $7.40B vs. $6.99B, and shows solid fundamentals including a P/E of 15.92, ROE of 12.49%, and a $94.1B market cap.
• Analysts are mixed: the consensus rating is a Hold with a $106 price target, and institutional investors hold roughly 49.13% of the stock.

TD Waterhouse Canada Inc. lessened its stake in shares of Bank of Nova Scotia (The) (NYSE:BNS - Free Report) TSE: BNS by 1.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,659,099 shares of the bank's stock after selling 48,909 shares during the quarter. Bank of Nova Scotia comprises about 2.1% of TD Waterhouse Canada Inc.'s investment portfolio, making the stock its 6th biggest position. TD Waterhouse Canada Inc. owned about 0.38% of Bank of Nova Scotia worth $343,432,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of Bank of Nova Scotia by 1.9% during the third quarter. Vanguard Group Inc. now owns 56,068,464 shares of the bank's stock worth $3,625,499,000 after purchasing an additional 1,063,127 shares during the last quarter. Canerector Inc. boosted its holdings in shares of Bank of Nova Scotia by 8,899.0% during the third quarter. Canerector Inc. now owns 26,997,000 shares of the bank's stock worth $1,745,356,000 after purchasing an additional 26,697,000 shares during the last quarter. TD Asset Management Inc boosted its holdings in shares of Bank of Nova Scotia by 1.3% during the third quarter. TD Asset Management Inc now owns 18,364,021 shares of the bank's stock worth $1,187,709,000 after purchasing an additional 229,990 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Bank of Nova Scotia by 44.3% during the third quarter. CIBC Asset Management Inc now owns 9,800,305 shares of the bank's stock worth $635,730,000 after purchasing an additional 3,007,407 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of Bank of Nova Scotia by 5.4% during the third quarter. Legal & General Group Plc now owns 8,046,647 shares of the bank's stock worth $520,426,000 after purchasing an additional 410,786 shares during the last quarter. Institutional investors and hedge funds own 49.13% of the company's stock.

Bank of Nova Scotia Trading Up 0.0%

Shares of BNS opened at $76.57 on Monday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $94.10 billion, a P/E ratio of 15.92, a price-to-earnings-growth ratio of 0.93 and a beta of 1.10. The stock's fifty day simple moving average is $72.73 and its 200 day simple moving average is $70.89. Bank of Nova Scotia has a twelve month low of $47.06 and a twelve month high of $78.28.

Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS last issued its earnings results on Tuesday, February 24th. The bank reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.06. The business had revenue of $7.40 billion for the quarter, compared to analyst estimates of $6.99 billion. Bank of Nova Scotia had a return on equity of 12.49% and a net margin of 12.40%.The business's quarterly revenue was up 2.9% on a year-over-year basis. During the same period last year, the company posted $1.76 EPS. On average, equities research analysts forecast that Bank of Nova Scotia will post 4.91 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on BNS shares. Canaccord Genuity Group cut Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a report on Monday, March 9th. Royal Bank Of Canada raised their price objective on Bank of Nova Scotia from $97.00 to $106.00 and gave the stock a "sector perform" rating in a report on Wednesday, February 25th. TD Securities restated a "hold" rating on shares of Bank of Nova Scotia in a report on Tuesday, March 3rd. Finally, Weiss Ratings upgraded Bank of Nova Scotia from a "hold (c+)" rating to a "buy (b)" rating in a report on Wednesday, February 25th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Bank of Nova Scotia has an average rating of "Hold" and a consensus price target of $106.00.

Bank of Nova Scotia 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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