Y Intercept Hong Kong Ltd Invests $5.67 Million in Bank of Nova Scotia (The) $BNS

Y Intercept Hong Kong Ltd acquired a new stake in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 81,740 shares of the bank’s stock, valued at approximately $5,665,000.

Several other institutional investors have also recently added to or reduced their stakes in BNS. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Bank of Nova Scotia by 30.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,690,883 shares of the bank’s stock worth $497,197,000 after purchasing an additional 1,772,608 shares in the last quarter. Mn Services Vermogensbeheer B.V. raised its stake in Bank of Nova Scotia by 17.0% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 285,843 shares of the bank’s stock worth $21,109,000 after acquiring an additional 41,443 shares in the last quarter. Russell Investments Group Ltd. lifted its position in Bank of Nova Scotia by 32.2% in the third quarter. Russell Investments Group Ltd. now owns 1,669,108 shares of the bank’s stock valued at $108,149,000 after acquiring an additional 406,646 shares during the last quarter. American Century Companies Inc. lifted its position in Bank of Nova Scotia by 16.7% in the third quarter. American Century Companies Inc. now owns 450,859 shares of the bank’s stock valued at $29,153,000 after acquiring an additional 64,575 shares during the last quarter. Finally, Guardian Capital LP boosted its stake in Bank of Nova Scotia by 7.2% in the third quarter. Guardian Capital LP now owns 496,676 shares of the bank’s stock valued at $32,123,000 after acquiring an additional 33,536 shares in the last quarter. Hedge funds and other institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Price Performance

Shares of NYSE BNS opened at $85.36 on Friday. The stock has a fifty day moving average price of $81.05 and a 200 day moving average price of $76.02. Bank of Nova Scotia has a 1-year low of $54.31 and a 1-year high of $87.97. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.04 and a quick ratio of 1.04. The company has a market cap of $104.57 billion, a PE ratio of 16.29, a P/E/G ratio of 1.06 and a beta of 1.11.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last announced its quarterly earnings data on Wednesday, May 27th. The bank reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.05. Bank of Nova Scotia had a net margin of 13.38% and a return on equity of 13.16%. The company had revenue of $7.24 billion for the quarter, compared to analysts’ expectations of $7.13 billion. During the same period in the previous year, the company posted $1.52 EPS. Bank of Nova Scotia’s revenue was up 8.3% compared to the same quarter last year. Sell-side analysts forecast that Bank of Nova Scotia will post 6.01 EPS for the current year.

Analyst Upgrades and Downgrades

BNS has been the subject of several research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Bank of Nova Scotia in a report on Friday, May 22nd. Royal Bank Of Canada boosted their price objective on Bank of Nova Scotia from $98.00 to $117.00 and gave the company a “sector perform” rating in a research note on Thursday, May 28th. Finally, Canaccord Genuity Group lowered shares of Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 9th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Bank of Nova Scotia currently has a consensus rating of “Hold” and a consensus price target of $117.00.

Bank of Nova Scotia Company 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.