Two Sigma Advisers LP cut its holdings in The Bank of Nova Scotia (NYSE:BNS – Free Report) (TSE:BNS) by 8.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Mather Group LLC. increased its position in shares of Bank of Nova Scotia by 1,388.9% in the second quarter. Mather Group LLC. now owns 536 shares of the bank’s stock valued at $25,000 after buying an additional 500 shares in the last quarter. Blue Trust Inc. increased 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 buying an additional 563 shares in the last quarter. BNP Paribas Financial Markets increased its position 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 worth $47,000 after purchasing an additional 810 shares in the last quarter. City State Bank purchased a new stake in shares of Bank of Nova Scotia during the third quarter worth approximately $57,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of Bank of Nova Scotia during the second quarter worth approximately $104,000. 49.13% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several analysts recently commented on BNS shares. Canaccord Genuity Group upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Cibc World Mkts upgraded Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 20th. Royal Bank of Canada boosted their price target on Bank of Nova Scotia from $65.00 to $74.00 and gave the stock a “sector perform” rating in a research report on Wednesday, December 4th. Bank of America upgraded Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research report on Tuesday, November 19th. Finally, Canaccord Genuity Group raised Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $72.00.
Bank of Nova Scotia Stock Performance
NYSE BNS opened at $55.77 on Monday. The stock’s fifty day moving average is $53.93 and its two-hundred day moving average is $50.00. The firm has a market capitalization of $69.40 billion, a P/E ratio of 12.91, a price-to-earnings-growth ratio of 1.43 and a beta of 1.07. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.02 and a current ratio of 1.03. The Bank of Nova Scotia has a fifty-two week low of $43.67 and a fifty-two week high of $57.07.
Bank of Nova Scotia Cuts Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Tuesday, January 7th will be paid a $0.7535 dividend. This represents a $3.01 annualized dividend and a dividend yield of 5.40%. The ex-dividend date is Tuesday, January 7th. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 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.
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