Y Intercept Hong Kong Ltd Lowers Holdings in Bank of Nova Scotia (The) $BNS

Y Intercept Hong Kong Ltd decreased its position in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 46.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 57,974 shares of the bank’s stock after selling 50,776 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Bank of Nova Scotia were worth $3,748,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in BNS. Bank of New York Mellon Corp grew its stake in Bank of Nova Scotia by 3.8% in the second quarter. Bank of New York Mellon Corp now owns 1,200,107 shares of the bank’s stock valued at $66,330,000 after purchasing an additional 44,316 shares during the last quarter. AGF Management Ltd. bought a new stake in shares of Bank of Nova Scotia in the 2nd quarter valued at about $21,803,000. Scheer Rowlett & Associates Investment Management Ltd. boosted its holdings in shares of Bank of Nova Scotia by 2.9% in the 2nd quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 1,188,376 shares of the bank’s stock valued at $65,755,000 after buying an additional 33,800 shares in the last quarter. Public Sector Pension Investment Board grew its position in shares of Bank of Nova Scotia by 1,073.1% in the 2nd quarter. Public Sector Pension Investment Board now owns 1,410,536 shares of the bank’s stock worth $77,840,000 after buying an additional 1,290,300 shares during the last quarter. Finally, Ritholtz Wealth Management raised its stake in shares of Bank of Nova Scotia by 261.9% during the 2nd quarter. Ritholtz Wealth Management now owns 15,811 shares of the bank’s stock worth $874,000 after acquiring an additional 11,442 shares in the last quarter. 49.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Raymond James Financial started coverage on shares of Bank of Nova Scotia in a research report on Tuesday, November 25th. They set an “outperform” rating for the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Bank of Nova Scotia in a report on Monday, December 29th. Finally, Royal Bank Of Canada raised their price objective on Bank of Nova Scotia from $86.00 to $97.00 and gave the stock a “sector perform” rating in a research report on Wednesday, December 3rd. One analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $97.00.

Bank of Nova Scotia Stock Up 0.7%

Bank of Nova Scotia stock opened at $74.93 on Monday. The business’s 50-day simple moving average is $71.80 and its two-hundred day simple moving average is $65.10. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market cap of $92.51 billion, a PE ratio of 18.64, a PEG ratio of 0.98 and a beta of 1.11. Bank of Nova Scotia has a fifty-two week low of $44.09 and a fifty-two week high of $74.98.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released its earnings results on Tuesday, December 2nd. The bank reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.06. Bank of Nova Scotia had a return on equity of 12.10% and a net margin of 10.60%.The firm had revenue of $6.99 billion during the quarter, compared to the consensus estimate of $6.85 billion. During the same quarter in the previous year, the company posted $1.57 earnings per share. The company’s revenue was up 15.0% compared to the same quarter last year. Equities analysts anticipate that Bank of Nova Scotia will post 4.91 EPS for the current year.

Bank of Nova Scotia Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 28th. Investors of record on Tuesday, January 6th will be given a dividend of $1.10 per share. The ex-dividend date is Tuesday, January 6th. This represents a $4.40 dividend on an annualized basis and a yield of 5.9%. Bank of Nova Scotia’s payout ratio is currently 79.85%.

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.