Dynamic Technology Lab Private Ltd Buys Shares of 21,690 The Bank of Nova Scotia (NYSE:BNS)

Dynamic Technology Lab Private Ltd bought a new stake in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 21,690 shares of the bank’s stock, valued at approximately $1,165,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Atlas Capital Advisors Inc. acquired a new stake in Bank of Nova Scotia in the fourth quarter worth $83,000. Massachusetts Financial Services Co. MA grew its position in shares of Bank of Nova Scotia by 0.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 64,177 shares of the bank’s stock worth $3,448,000 after acquiring an additional 328 shares during the last quarter. May Hill Capital LLC acquired a new stake in shares of Bank of Nova Scotia in the 4th quarter worth about $357,000. Geode Capital Management LLC lifted its position in Bank of Nova Scotia by 31.8% in the 4th quarter. Geode Capital Management LLC now owns 7,433,171 shares of the bank’s stock valued at $406,103,000 after purchasing an additional 1,792,700 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in Bank of Nova Scotia by 0.9% during the 4th quarter. Franklin Resources Inc. now owns 1,299,271 shares of the bank’s stock valued at $69,680,000 after purchasing an additional 12,073 shares during the period. 49.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on BNS. 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. Royal Bank of Canada cut their target price on Bank of Nova Scotia from $83.00 to $81.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 26th. CIBC reiterated a “neutral” rating on shares of Bank of Nova Scotia in a research report on Tuesday, February 18th. Finally, Cibc World Mkts lowered Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $81.00.

Bank of Nova Scotia Stock Performance

BNS opened at $46.92 on Friday. The business has a 50 day moving average price of $49.45 and a two-hundred day moving average price of $52.16. 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 company has a market capitalization of $58.44 billion, a price-to-earnings ratio of 10.86, a price-to-earnings-growth ratio of 1.16 and a beta of 1.02. The Bank of Nova Scotia has a 1-year low of $43.68 and a 1-year high of $57.07.

Bank of Nova Scotia Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Tuesday, April 1st will be issued a $0.7415 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.97 annualized dividend and a dividend yield of 6.32%. Bank of Nova Scotia’s dividend payout ratio (DPR) is 82.77%.

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.