Cubist Systematic Strategies LLC Buys Shares of 29,656 The Bank of Nova Scotia (NYSE:BNS)

Cubist Systematic Strategies LLC bought a new stake in The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 29,656 shares of the bank's stock, valued at approximately $1,592,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Murphy & Mullick Capital Management Corp bought a new stake in shares of Bank of Nova Scotia during the fourth quarter valued at about $25,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Bank of Nova Scotia during the fourth quarter valued at about $31,000. Allworth Financial LP raised its stake in shares of Bank of Nova Scotia by 121.1% during the fourth quarter. Allworth Financial LP now owns 639 shares of the bank's stock valued at $33,000 after purchasing an additional 350 shares in the last quarter. Atlas Capital Advisors Inc. bought a new stake in shares of Bank of Nova Scotia during the fourth quarter valued at about $83,000. Finally, CIBC Private Wealth Group LLC raised its stake in shares of Bank of Nova Scotia by 18.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 2,368 shares of the bank's stock valued at $122,000 after purchasing an additional 367 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 weighed in on the stock. Cibc World Mkts cut shares of Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 18th. Bank of America cut shares of Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a research report on Monday, March 31st. CIBC reiterated a "neutral" rating on shares of Bank of Nova Scotia in a research report on Tuesday, February 18th. Finally, Royal Bank of Canada dropped their price target on shares of Bank of Nova Scotia from $83.00 to $81.00 and set a "sector perform" rating on the stock in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $81.00.

Bank of Nova Scotia Stock Up 0.5%

Shares of BNS stock opened at $50.53 on Tuesday. The Bank of Nova Scotia has a 12 month low of $43.68 and a 12 month high of $57.07. The firm has a market cap of $62.93 billion, a PE ratio of 11.70, a price-to-earnings-growth ratio of 1.16 and a beta of 1.11. The stock has a 50 day moving average of $48.02 and a 200-day moving average of $51.16. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.59.

Bank of Nova Scotia Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 28th. Stockholders of record on Tuesday, April 1st were given a dividend of $0.7415 per share. This represents a $2.97 dividend on an annualized basis and a dividend yield of 5.87%. The ex-dividend date was Tuesday, April 1st. Bank of Nova Scotia's dividend payout ratio is presently 83.05%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.