Twinbeech Capital LP Takes Position in The Bank of Nova Scotia (NYSE:BNS)

Twinbeech Capital LP purchased a new position in shares of The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,673 shares of the bank's stock, valued at approximately $520,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of BNS. Murphy & Mullick Capital Management Corp bought a new position in shares of Bank of Nova Scotia in the 4th quarter worth about $25,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Bank of Nova Scotia in the 4th quarter worth about $31,000. Allworth Financial LP increased its holdings in shares of Bank of Nova Scotia by 121.1% in the 4th quarter. Allworth Financial LP now owns 639 shares of the bank's stock worth $33,000 after acquiring an additional 350 shares during the period. Atlas Capital Advisors Inc. acquired a new stake in shares of Bank of Nova Scotia in the 4th quarter worth about $83,000. Finally, Dunhill Financial LLC acquired a new stake in shares of Bank of Nova Scotia in the 4th quarter worth about $95,000. Institutional investors and hedge funds own 49.13% of the company's stock.

Wall Street Analyst Weigh In

BNS has been the topic of a number of analyst reports. 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 lowered their target price on shares of Bank of Nova Scotia from $83.00 to $81.00 and set a "sector perform" rating on the stock in a research note on Wednesday, February 26th. CIBC reissued a "neutral" rating on shares of Bank of Nova Scotia in a research note on Tuesday, February 18th. Finally, Bank of America cut shares of Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a research note on Monday, March 31st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $81.00.

Bank of Nova Scotia Stock Down 1.0%

BNS traded down $0.51 during midday trading on Wednesday, hitting $52.22. 443,038 shares of the company's stock traded hands, compared to its average volume of 1,705,687. The company has a market cap of $65.05 billion, a PE ratio of 12.08, a price-to-earnings-growth ratio of 1.16 and a beta of 1.11. The stock's fifty day simple moving average is $48.82 and its 200-day simple moving average is $51.09. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.03 and a quick ratio of 1.03. The Bank of Nova Scotia has a one year low of $43.68 and a one year high of $57.07.

Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS last issued its quarterly earnings data on Tuesday, May 27th. The bank reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.08). The business had revenue of $6.59 billion for the quarter, compared to the consensus estimate of $8.98 billion. Bank of Nova Scotia had a net margin of 10.20% and a return on equity of 11.56%. Bank of Nova Scotia's revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.58 EPS. As a group, equities analysts anticipate that The Bank of Nova Scotia will post 4.91 earnings per share for the current fiscal year.

About Bank of Nova Scotia

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.