Dynamic Technology Lab Private Ltd Takes Position in 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) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 21,690 shares of the bank’s stock, valued at approximately $1,165,000.

Other large investors have also recently added to or reduced their stakes in the company. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Bank of Nova Scotia in the fourth quarter worth about $25,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in Bank of Nova Scotia in the 4th quarter worth approximately $31,000. Allworth Financial LP grew its position in Bank of Nova Scotia by 121.1% in the fourth quarter. Allworth Financial LP now owns 639 shares of the bank’s stock valued at $33,000 after acquiring an additional 350 shares in the last quarter. BNP Paribas Financial Markets raised its stake in shares of 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 purchasing an additional 810 shares during the period. Finally, Fortitude Family Office LLC acquired a new position in shares of Bank of Nova Scotia during the fourth quarter worth $73,000. 49.13% of the stock is currently owned by institutional investors and hedge funds.

Bank of Nova Scotia Trading Down 3.0 %

Shares of NYSE BNS opened at $46.92 on Friday. The stock has a market capitalization of $58.44 billion, a P/E ratio of 10.86, a PEG ratio of 1.16 and a beta of 1.02. The stock’s 50 day moving average price is $49.45 and its two-hundred day moving average price is $52.16. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.59. 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 company also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Tuesday, April 1st will be paid a dividend of $0.7415 per share. This represents a $2.97 annualized dividend and a yield of 6.32%. The ex-dividend date is Tuesday, April 1st. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 82.77%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on BNS shares. Cibc World Mkts downgraded shares of Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 18th. Royal Bank of Canada cut their price target 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 restated a “neutral” rating on shares of Bank of Nova Scotia in a research note on Tuesday, February 18th. Finally, Bank of America lowered Bank of Nova Scotia from a “buy” rating to a “neutral” rating in a research report on Monday, March 31st. 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 stock. According to MarketBeat.com, the company currently 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.