Bank of Nova Scotia (BNS.TO) Buy, Sell or Hold

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Bank of Nova Scotia (BNS.TO)

129.41

-1.88 (1.43%)

as of Sep 30, 2026, 8:00:00 pm Market Open.

2150 watching

WEAK BUY

BNS vs. CM

A bit like chalk and cheese. CM is the most domestic and Canadian bank. BNS is the most international, especially in Latin America. BNS has more risk because of all that could go wrong in developing countries. CM has more risk because it rarely has found a log that it couldn't trip itself over. Invest with the one that you bank with. It will at least be emotionally satisfying, as your bank charges will be covered by dividends, which will increase regardless.

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Curated by Michael O'Reilly since 2020.
1550+ opinions with 4.81 rating (one of the best performing expert).

TOP PICK

Stockchase Research Editor: Michael O’Reilly

We again reiterate this large Canadian chartered bank as a TOP PICK. Recent earnings missed analyst expectations due to rising capitalization requirements. We have confidence with their strategy going forward as they are still demonstrating growth in cash reserves while retiring debt and buying back shares. We continue to recommend a stop loss at $63.00, looking to achieve $78.50 — upside potential over 15%. Yield 5.6%

(Analysts’ price target is $78.33)

TOP PICK

Value pick at current share price.
Oligopoly in banking system within Canada.
New management a bit of a worry, but has met new CEO before and believes in him.
~5% dividend yield is very strong. Expected to grow.
Strong long term term hold.

PAST TOP PICK

(A Top Pick Feb 01/22, Down 17%)

Definitely hold on. Is cheaply valued vs. peers. Price to book is low. The 5.6% yield pays more than the others. Good to hold long term. Are exposed to the commodity cycle more than the others, so keep that in mind.

DON'T BUY

BNS vs. TRP

Two completely different sectors. First questions are what's already in your portfolio and at what weighting? Similar dividend yields and similarly disappointing to investors in 2022. BNS has had poor performance for quite some time, and now a leadership change. TRP has a good, strong management team, but cost overruns. At these levels, he prefers TRP -- underlying business doing quite well, core fundamentals extremely strong, project issues will get solved though investors may have to wait a bit.

PAST TOP PICK

(A Top Pick Nov 30/22, Up 5%)

Strong brand name, high quality. Diversified. 50% of revenue is from Canada. 45% of revenue is from Latin America, a key differentiating factor which has been hurting, putting pressure on share price. Yield is 6%.

BUY

Not expensive, great dividend, oligopoly. Difficulties with housing market plus slowing economy are pushing them to over-reserve. International business sometimes gives BNS a higher multiple, but sometimes a lower one in times of slower economic growth. Great business that should continue to do well.

DON'T BUY

Canadian banks are in a tough space right now, with slowing economy and housing. That will affect BNS more. New CEO starts in February, and questions remain on this.

BUY

He owns the top five Canadian banks. Bank of Nova Scotia is the laggard by far so the yield is in the 6% range. There is a new CEO so the question is can he get the bank back on track. It has exposure to Latin America and therefore emerging markets. He is buying for clients.

PAST TOP PICK

(A Top Pick Jan 11/22, Down 21%) Has since sold shares. Better options for investors in the market. CEO transition not favorable. Risky operations in geographic areas. 6% dividend yield a "show me" story.

BUY

Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research. Better than expected quarter reported. Loss provisions declined. Trading back in line with peers. Unlock Premium - Try 5i Free

BUY ON WEAKNESS

Stable banking stock. Company currently lagging in financial performance relative to peers. New CEO will hopefully enact changes. Strong dividend yield at ~6%. TD Bank or Royal Bank are better investments.

DON'T BUY

You can buy it now, but only with a long timeline. A new CEO needs time to transition. A lot of work to do. Prefers Royal and TD. BNS's dividend is high yet safe. Historically, Canadian banks do well. Last year, BNS underperformed peers.

DON'T BUY

Results were horrible. Stick with the ones that continue to knock it out of the park -- TD, RY, and NA. He owns these 3, and is happy to continue buying. Not going to benefit from rising interest rates at all, because they hedged thinking rates would go lower.

HOLD

Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research. Better than expected quarter reported. Earnings improved for a 2nd consecutive qtr. Loss provisions declined. Trading back in line with peers.

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Bank of Nova Scotia (BNS.TO)