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

Y Intercept Hong Kong Ltd trimmed its stake in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 46.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 57,974 shares of the bank’s stock after selling 50,776 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Bank of Nova Scotia were worth $3,748,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. AQR Capital Management LLC grew its stake in shares of Bank of Nova Scotia by 111.2% during the 1st quarter. AQR Capital Management LLC now owns 19,096 shares of the bank’s stock worth $911,000 after purchasing an additional 10,056 shares during the period. Sivia Capital Partners LLC acquired a new position in shares of Bank of Nova Scotia in the 2nd quarter valued at $330,000. Signaturefd LLC boosted its holdings in Bank of Nova Scotia by 12.3% during the second quarter. Signaturefd LLC now owns 20,756 shares of the bank’s stock worth $1,147,000 after buying an additional 2,278 shares in the last quarter. HB Wealth Management LLC grew its position in Bank of Nova Scotia by 18.6% during the second quarter. HB Wealth Management LLC now owns 5,224 shares of the bank’s stock valued at $289,000 after buying an additional 818 shares during the period. Finally, Gold Investment Management Ltd. grew its position in Bank of Nova Scotia by 2.8% during the second quarter. Gold Investment Management Ltd. now owns 142,484 shares of the bank’s stock valued at $7,877,000 after buying an additional 3,815 shares during the period. 49.13% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Bank of Nova Scotia in a research report on Monday, December 29th. Raymond James Financial started coverage on Bank of Nova Scotia in a report on Tuesday, November 25th. They issued an “outperform” rating for the company. Finally, Royal Bank Of Canada increased their price target 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 investment analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Bank of Nova Scotia presently has an average rating of “Hold” and an average price target of $97.00.

Bank of Nova Scotia Trading Up 0.7%

Shares of Bank of Nova Scotia stock opened at $74.93 on Monday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.70. Bank of Nova Scotia has a twelve month low of $44.09 and a twelve month high of $74.98. The firm has a market capitalization of $92.51 billion, a PE ratio of 18.64, a P/E/G ratio of 0.98 and a beta of 1.11. The firm’s 50-day moving average price is $71.80 and its 200 day moving average price is $65.10.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released its earnings results on Tuesday, December 2nd. The bank reported $1.39 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $6.99 billion for the quarter, compared to the consensus estimate of $6.85 billion. During the same quarter last year, the business posted $1.57 earnings per share. The business’s quarterly revenue was up 15.0% compared to the same quarter last year. On average, sell-side analysts predict that Bank of Nova Scotia will post 4.91 EPS for the current fiscal year.

Bank of Nova Scotia Dividend Announcement

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

About Bank of Nova Scotia

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.