Lombard Odier Asset Management Europe Ltd Has $4.63 Million Position in The Bank of Nova Scotia (NYSE:BNS)

Lombard Odier Asset Management Europe Ltd boosted its holdings in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 2.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 101,295 shares of the bank’s stock after acquiring an additional 2,134 shares during the period. Lombard Odier Asset Management Europe Ltd’s holdings in Bank of Nova Scotia were worth $4,634,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Mather Group LLC. raised its position in shares of Bank of Nova Scotia by 1,388.9% in the second quarter. Mather Group LLC. now owns 536 shares of the bank’s stock valued at $25,000 after purchasing an additional 500 shares during the period. Blue Trust Inc. raised its holdings in Bank of Nova Scotia by 3,127.8% in the 2nd quarter. Blue Trust Inc. now owns 581 shares of the bank’s stock valued at $27,000 after acquiring an additional 563 shares during the period. Bruce G. Allen Investments LLC lifted its position in Bank of Nova Scotia by 70.6% during the first quarter. Bruce G. Allen Investments LLC now owns 585 shares of the bank’s stock worth $30,000 after acquiring an additional 242 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Bank of Nova Scotia during the first quarter worth approximately $53,000. Finally, Galibier Capital Management Ltd. bought a new stake in shares of Bank of Nova Scotia during the first quarter worth approximately $76,000. Institutional investors and hedge funds own 49.13% of the company’s stock.

Bank of Nova Scotia Stock Up 1.9 %

NYSE BNS opened at $54.07 on Monday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.61. The company has a market cap of $66.48 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 1.64 and a beta of 1.04. The company has a 50 day moving average of $48.30 and a 200-day moving average of $47.95. The Bank of Nova Scotia has a 1-year low of $39.79 and a 1-year high of $54.22.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released its earnings results on Tuesday, August 27th. The bank reported $1.63 EPS for the quarter, beating the consensus estimate of $1.62 by $0.01. Bank of Nova Scotia had a net margin of 9.84% and a return on equity of 11.14%. The firm had revenue of $8.36 billion for the quarter, compared to analyst estimates of $8.53 billion. During the same period last year, the firm earned $1.30 EPS. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. On average, equities research analysts expect that The Bank of Nova Scotia will post 4.8 earnings per share for the current fiscal year.

Bank of Nova Scotia Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 29th. Shareholders of record on Wednesday, October 2nd will be paid a dividend of $0.768 per share. This represents a $3.07 annualized dividend and a yield of 5.68%. The ex-dividend date is Wednesday, October 2nd. Bank of Nova Scotia’s payout ratio is presently 70.72%.

Analysts Set New Price Targets

BNS has been the subject of several research reports. StockNews.com cut Bank of Nova Scotia from a “hold” rating to a “sell” rating in a report on Wednesday, May 29th. UBS Group assumed coverage on Bank of Nova Scotia in a report on Tuesday, July 2nd. They set a “neutral” rating for the company. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company. Based on data from MarketBeat, Bank of Nova Scotia currently has an average rating of “Hold” and a consensus price target of $69.00.

Bank of Nova Scotia Company 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.