Dynamic Technology Lab Private Ltd Acquires New Position in The Bank of Nova Scotia (NYSE:BNS)

Dynamic Technology Lab Private Ltd acquired a new stake in shares of The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 21,690 shares of the bank's stock, valued at approximately $1,165,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. BNP Paribas Financial Markets grew its holdings in Bank of Nova Scotia by 1,588.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 861 shares of the bank's stock worth $47,000 after acquiring an additional 810 shares during the last quarter. Captrust Financial Advisors raised its position in Bank of Nova Scotia by 2.5% during the 3rd quarter. Captrust Financial Advisors now owns 22,329 shares of the bank's stock valued at $1,217,000 after purchasing an additional 536 shares during the last quarter. Verition Fund Management LLC purchased a new stake in Bank of Nova Scotia in the 3rd quarter worth approximately $258,000. Janus Henderson Group PLC grew its position in shares of Bank of Nova Scotia by 7.9% in the 3rd quarter. Janus Henderson Group PLC now owns 153,849 shares of the bank's stock worth $8,390,000 after buying an additional 11,300 shares during the last quarter. Finally, Royal London Asset Management Ltd. increased its stake in shares of Bank of Nova Scotia by 1.7% during the third quarter. Royal London Asset Management Ltd. now owns 153,414 shares of the bank's stock valued at $8,360,000 after buying an additional 2,574 shares during the period. Institutional investors own 49.13% of the company's stock.

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Bank of Nova Scotia Stock Up 1.1 %

NYSE BNS traded up $0.49 during trading hours on Friday, reaching $45.97. 584,788 shares of the company's stock traded hands, compared to its average volume of 1,688,100. 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 current ratio of 1.03 and a quick ratio of 1.03. The firm has a 50-day simple moving average of $48.73 and a 200 day simple moving average of $51.83. The firm has a market cap of $57.26 billion, a PE ratio of 10.64, 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. Stockholders of record on Tuesday, April 1st will be issued a dividend of $0.7415 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.97 annualized dividend and a dividend yield of 6.45%. Bank of Nova Scotia's payout ratio is 82.77%.

Analysts Set New Price Targets

A number of brokerages recently commented on BNS. Bank of America lowered Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a research note on Monday, March 31st. Royal Bank of Canada decreased their price objective 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 lowered shares of Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 18th. Finally, CIBC reissued a "neutral" rating on shares of Bank of Nova Scotia in a research note on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $81.00.

Bank of Nova Scotia 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.