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

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

PAST TOP PICK

(A Top Pick Dec 14/21, Down 20%) Recently buying shares as market selloff creating buying opportunity. Expecting more growth going forward. Balance sheet not in a great spot, and will be hurt by rising interest rates. Dividend yield at 6%. Will continue to hold shares.

DON'T BUY

Fairly unorthodox leadership change. Could be a bumpy transition. Failed strategy. Promise of faster, secular growth that accompanies a largely unbanked population should have brought higher returns, but it hasn't. It has brought higher risk. Respectable total returns, but not best in class.

BUY

Out of favour, dirt cheap at 8x earnings. Dividend almost 6%. Better total return, getting paid to wait, some upside on the earnings.

PAST TOP PICK

(A Top Pick Feb 01/22, Down 23%) It has under-performed the other banks. There is some concern over the international part of the business and large exposure to South America. Its sensitivity to changing interest rates is a little slow compared to others. Also there have been significant changes in management including the CEO who is from Finning, although he has been a director of BNS for a period of time. It is an excellent buy at these levels and has a 6% yield so wait for a recovery.

DON'T BUY

Not a favorite Canadian bank stock and believes there are better options available. Believes stock will under perform market. Latin America focus hurting the company.

BUY

Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research. Slower recovery due to weak Int’l markets. Trading cheaper than Canadian bank peers. Low rates will hurt short-term profits. Geographically focused in high ROE areas.

DON'T BUY

Really underperformed this quarter. BNS net interest rate margin didn't go up as much as the other banks, a worry. Used to like the international diversification, but that comes with a lot of risk. He likes TD much more.

WEAK BUY

BNS vs. CM Both have underperformed over the last year. CM is down 16%, BNS down 18%. RY is the only bank up YTD. Any contrarian would say buy. Over the last 5 years, both are at the bottom of the pack. If you like Latin America and the new CEO, pick BNS. If you think CM has cleaned up its US litigation, pick that one. BNS gets his vote. Yield is 6%.

TOP PICK

A reversion to the mean trade, so it will play catch up. Lagged its peers, but a very good bank. Uniquely, 45% of revenues from Latin America, an area that's growing faster than developed markets, despite recent softness. New CEO, opportunities for growth. Juicy yield of 5.99%. (Analysts’ price target is $79.15)

RISKY

Earnings season next week. Chronic underperformer last 5 years. Leadership transition. He'd prefer RY or BMO. If you believe in a turnaround, could be a value play for a patient investor, but not without uncertainty.

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TOP PICK

Stockchase Research Editor: Michael O'Reilly Trading at only 9x earnings and under 1.25x book value, BNS is reiterated as a TOP PICK. Market analysts have already factored in a reduction in quarterly earnings, leaving more likelihood for a positive earnings surprise later this month -- especially as higher interest rate allow for higher profit margin for them. Longer term, its investments into South America, will differentiate it from its peers as economic growth in that region outpaces that of Canada and US in the years ahead. It pays a great dividend, backed by a payout ratio under 50% of cash flow. We recommend trailing up the stop loss (from $61.50) to $63.00, targeting $85 -- upside potential over 18%. Yield 5.8% (Analysts’ price target is $84.21)

BUY ON WEAKNESS

Currently owns shares in the company. Long term, believes business is a good investment. Strong franchise with a healthy balance sheet. New CEO not from banking sector (market does not like that). Believes dividend is safe and company will sort itself out. Current share price presenting discount to peers.

BUY

At 8x earnings, discount to historical range and to its peers. TD is 10x, RY is 11x, CM and BMO are 9x. Struggles in recent years, mainly due to international operations. CEO from outside signals desperate times. See his Top Picks.

TOP PICK

Like a Dogs of the Dow scenario. Highest yield of the Big 5, which have never cut a dividend, so dividend is rock solid. 8x earnings. If stock can appreciate just 3-4% annually, that's a 10% total annualized return. Senior executive turnaround and repairs needed provide the opportunity. Hard to put down Canadian banks. Yield is 6%. (Analysts’ price target is $83.11)

PARTIAL BUY

Every cycle of rate hiking gets hit by some credit-driven catastrophe, a cloud on banks. Cheap, adjusted book value is $97. In shorter term, something will erupt to pull down the sector and give you a chance to steal the stock. Nice yield. Could buy here in bits and pieces every quarter.

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Bank of Nova Scotia (BNS.TO)