Two Sigma Advisers LP Sells 31,100 Shares of The Bank of Nova Scotia (NYSE:BNS)

Two Sigma Advisers LP cut its holdings in shares of The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 8.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 348,909 shares of the bank's stock after selling 31,100 shares during the quarter. Two Sigma Advisers LP's holdings in Bank of Nova Scotia were worth $19,012,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Mather Group LLC. boosted its stake in Bank of Nova Scotia by 1,388.9% in the 2nd quarter. Mather Group LLC. now owns 536 shares of the bank's stock worth $25,000 after purchasing an additional 500 shares during the period. Blue Trust Inc. boosted its position in shares of Bank of Nova Scotia by 3,127.8% in the second quarter. Blue Trust Inc. now owns 581 shares of the bank's stock valued at $27,000 after acquiring an additional 563 shares during the period. BNP Paribas Financial Markets grew its stake in Bank of Nova Scotia by 1,588.2% during 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. City State Bank bought a new stake in Bank of Nova Scotia during the 3rd quarter worth approximately $57,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in Bank of Nova Scotia in the 2nd quarter worth approximately $104,000. Institutional investors own 49.13% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Bank of America upgraded Bank of Nova Scotia from a "neutral" rating to a "buy" rating in a research report on Tuesday, November 19th. Canaccord Genuity Group upgraded Bank of Nova Scotia from a "hold" rating to a "buy" rating in a research report on Tuesday, November 19th. Canaccord Genuity Group upgraded shares of Bank of Nova Scotia from a "hold" rating to a "buy" rating in a research report on Tuesday, November 19th. Royal Bank of Canada lifted their target price on shares of Bank of Nova Scotia from $65.00 to $74.00 and gave the company a "sector perform" rating in a research report on Wednesday, December 4th. Finally, TD Securities upgraded shares of Bank of Nova Scotia from a "hold" rating to a "buy" rating in a research report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $72.00.

Bank of Nova Scotia Price Performance

Shares of BNS stock traded up $0.07 during trading hours on Monday, hitting $55.85. 1,072,517 shares of the company's stock were exchanged, compared to its average volume of 1,754,141. The company has a market capitalization of $69.50 billion, a PE ratio of 12.92, a PEG ratio of 1.25 and a beta of 1.07. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.59. The Bank of Nova Scotia has a 12-month low of $43.67 and a 12-month high of $57.07. The business's 50 day simple moving average is $53.93 and its 200-day simple moving average is $50.00.

Bank of Nova Scotia Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Tuesday, January 7th will be given a dividend of $0.7535 per share. The ex-dividend date is Tuesday, January 7th. This represents a $3.01 annualized dividend and a yield of 5.40%. Bank of Nova Scotia's payout ratio is 72.45%.

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.