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

Renaissance Technologies LLC raised its stake in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 684.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 218,200 shares of the bank’s stock after buying an additional 190,400 shares during the period. Renaissance Technologies LLC’s holdings in Bank of Nova Scotia were worth $11,722,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Bank of Nova Scotia during the fourth quarter worth $25,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Bank of Nova Scotia during the 4th quarter worth about $31,000. Allworth Financial LP lifted its stake in 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 buying an additional 350 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings 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 worth $47,000 after buying an additional 810 shares during the period. Finally, Fortitude Family Office LLC purchased a new position in shares of Bank of Nova Scotia in the fourth quarter worth approximately $73,000. Institutional investors and hedge funds own 49.13% of the company’s stock.

Bank of Nova Scotia Price Performance

Shares of BNS stock opened at $46.88 on Wednesday. The stock’s fifty day moving average is $48.49 and its 200-day moving average is $51.67. The Bank of Nova Scotia has a 52 week low of $43.68 and a 52 week high of $57.07. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market capitalization of $58.39 billion, a PE ratio of 10.85, a PEG ratio of 1.16 and a beta of 1.02.

Bank of Nova Scotia Cuts Dividend

The firm also recently announced 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 is Tuesday, April 1st. This represents a $2.97 dividend on an annualized basis and a yield of 6.33%. Bank of Nova Scotia’s payout ratio is presently 83.05%.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Bank of America lowered shares of Bank of Nova Scotia from a “buy” rating to a “neutral” rating in a research note on Monday, March 31st. Cibc World Mkts lowered Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. CIBC reiterated a “neutral” rating on shares of Bank of Nova Scotia in a 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 research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $81.00.

Bank of Nova Scotia Company 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.