Y Intercept Hong Kong Ltd Sells 13,101 Shares of The Bank of Nova Scotia (NYSE:BNS)

Y Intercept Hong Kong Ltd lowered its position in shares of The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 53.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,184 shares of the bank's stock after selling 13,101 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in Bank of Nova Scotia were worth $601,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Toronto Dominion Bank raised its position in shares of Bank of Nova Scotia by 9.6% during the third quarter. Toronto Dominion Bank now owns 24,990,868 shares of the bank's stock worth $1,361,752,000 after purchasing an additional 2,195,604 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Bank of Nova Scotia by 24.9% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 11,757,961 shares of the bank's stock worth $640,624,000 after buying an additional 2,346,995 shares during the period. CIBC Asset Management Inc lifted its stake in Bank of Nova Scotia by 1.8% in the fourth quarter. CIBC Asset Management Inc now owns 10,259,279 shares of the bank's stock valued at $551,766,000 after buying an additional 184,761 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Bank of Nova Scotia by 10.3% in the third quarter. Geode Capital Management LLC now owns 5,640,471 shares of the bank's stock valued at $310,817,000 after buying an additional 524,496 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of Bank of Nova Scotia by 260.1% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 5,480,486 shares of the bank's stock valued at $298,575,000 after buying an additional 3,958,580 shares during the period. Institutional investors and hedge funds own 49.13% of the company's stock.

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Bank of Nova Scotia Stock Up 0.2 %

Shares of NYSE BNS traded up $0.11 during trading hours on Wednesday, hitting $48.59. The company had a trading volume of 1,958,231 shares, compared to its average volume of 1,896,474. The Bank of Nova Scotia has a 1-year low of $43.67 and a 1-year high of $57.07. 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 firm's 50 day moving average is $51.35 and its 200-day moving average is $52.48. The stock has a market capitalization of $60.53 billion, a P/E ratio of 11.25, a price-to-earnings-growth ratio of 1.16 and a beta of 1.11.

Bank of Nova Scotia Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Tuesday, April 1st will be paid a $0.7415 dividend. This represents a $2.97 dividend on an annualized basis and a yield of 6.10%. The ex-dividend date is Tuesday, April 1st. Bank of Nova Scotia's dividend payout ratio (DPR) is presently 82.77%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on BNS shares. Bank of America raised shares of Bank of Nova Scotia from a "neutral" rating to a "buy" rating in a research report on Tuesday, November 19th. Cibc World Mkts cut Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating 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. CIBC reaffirmed a "neutral" rating on shares of Bank of Nova Scotia in a research report on Tuesday, February 18th. Finally, Royal Bank of Canada lowered their price objective on shares of Bank of Nova Scotia from $83.00 to $81.00 and set a "sector perform" rating on the stock in a report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Bank of Nova Scotia presently has an average rating of "Hold" and a consensus target price of $75.50.

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.