Y Intercept Hong Kong Ltd Has $601,000 Position in The Bank of Nova Scotia (NYSE:BNS)

Y Intercept Hong Kong Ltd reduced its position in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 53.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,184 shares of the bank’s stock after selling 13,101 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Bank of Nova Scotia were worth $601,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. DORCHESTER WEALTH MANAGEMENT Co boosted its position in shares of Bank of Nova Scotia by 1.3% during the fourth quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 216,142 shares of the bank’s stock worth $11,525,000 after buying an additional 2,686 shares during the period. Private Advisor Group LLC boosted its position in shares of Bank of Nova Scotia by 3.5% during the fourth quarter. Private Advisor Group LLC now owns 6,248 shares of the bank’s stock worth $336,000 after buying an additional 211 shares during the period. Alberta Investment Management Corp boosted its position in shares of Bank of Nova Scotia by 2.2% during the fourth quarter. Alberta Investment Management Corp now owns 2,126,600 shares of the bank’s stock worth $114,137,000 after buying an additional 44,800 shares during the period. Lorne Steinberg Wealth Management Inc. boosted its position in shares of Bank of Nova Scotia by 0.9% during the fourth quarter. Lorne Steinberg Wealth Management Inc. now owns 157,428 shares of the bank’s stock worth $8,446,000 after buying an additional 1,398 shares during the period. Finally, Callahan Advisors LLC boosted its position in shares of Bank of Nova Scotia by 36.6% during the fourth quarter. Callahan Advisors LLC now owns 6,420 shares of the bank’s stock worth $345,000 after buying an additional 1,720 shares during the period. 49.13% of the stock is owned by institutional investors and hedge funds.

Bank of Nova Scotia Price Performance

NYSE:BNS opened at $49.61 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.59. The stock’s 50 day moving average price is $51.64 and its two-hundred day moving average price is $52.43. The firm has a market capitalization of $61.79 billion, a price-to-earnings ratio of 11.48, a P/E/G ratio of 1.16 and a beta of 1.07. The Bank of Nova Scotia has a 12-month low of $43.67 and a 12-month high of $57.07.

Bank of Nova Scotia Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Tuesday, April 1st will be paid a $0.7415 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $2.97 annualized dividend and a yield of 5.98%. Bank of Nova Scotia’s dividend payout ratio is 82.20%.

Wall Street Analyst Weigh In

Several brokerages recently commented on BNS. CIBC reissued a “neutral” rating on shares of Bank of Nova Scotia in a research report on Tuesday, February 18th. Canaccord Genuity Group raised Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Bank of America raised Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research report on Tuesday, November 19th. Royal Bank of Canada reduced their price target on Bank of Nova Scotia from $83.00 to $81.00 and set a “sector perform” rating for the company in a research report on Wednesday. Finally, Canaccord Genuity Group raised Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $75.50.

Bank of Nova Scotia 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.