The Bank of Nova Scotia (NYSE:BNS) Shares Purchased by Renaissance Technologies LLC

Renaissance Technologies LLC boosted its position in shares of The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 684.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 218,200 shares of the bank's stock after purchasing an additional 190,400 shares during the quarter. Renaissance Technologies LLC's holdings in Bank of Nova Scotia were worth $11,722,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in BNS. Murphy & Mullick Capital Management Corp purchased a new position in shares of Bank of Nova Scotia during the 4th quarter worth approximately $25,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in Bank of Nova Scotia during the fourth quarter worth $31,000. Allworth Financial LP increased its position in Bank of Nova Scotia by 121.1% during the fourth quarter. Allworth Financial LP now owns 639 shares of the bank's stock worth $33,000 after buying an additional 350 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of Bank of Nova Scotia by 1,588.2% in the third quarter. BNP Paribas Financial Markets now owns 861 shares of the bank's stock valued at $47,000 after acquiring an additional 810 shares in the last quarter. Finally, Fortitude Family Office LLC acquired a new stake in shares of Bank of Nova Scotia during the fourth quarter valued at $73,000. Hedge funds and other institutional investors own 49.13% of the company's stock.

Bank of Nova Scotia Trading Down 0.1 %

BNS stock traded down $0.05 during trading on Monday, reaching $47.42. 102,597 shares of the stock traded hands, compared to its average volume of 1,670,498. The business's 50 day moving average price is $48.28 and its 200-day moving average price is $51.52. The firm has a market capitalization of $59.06 billion, a PE ratio of 10.97, a P/E/G ratio of 1.16 and a beta of 1.02. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.03 and a quick ratio of 1.03. The Bank of Nova Scotia has a 52-week low of $43.68 and a 52-week high of $57.07.

Bank of Nova Scotia Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Tuesday, April 1st will be given a dividend of $0.7415 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.97 dividend on an annualized basis and a yield of 6.26%. Bank of Nova Scotia's dividend payout ratio (DPR) is 83.05%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Royal Bank of Canada lowered their price target on shares of Bank of Nova Scotia from $83.00 to $81.00 and set a "sector perform" rating for the company in a report on Wednesday, February 26th. Cibc World Mkts cut Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 18th. Bank of America lowered Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a research note on Monday, March 31st. Finally, CIBC restated a "neutral" rating on shares of Bank of Nova Scotia in a report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Bank of Nova Scotia has an average rating of "Hold" and a consensus target price of $81.00.

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.