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

BUY

BNS vs. NA Prefers BNS. Refocused, sold off non-core international geographies. Well positioned. Gives you exposure to international and Latin American economies, which may be uneven but represent more attractive long-term growth.

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

PAST TOP PICK

(A Top Pick Feb 10/22, Down 6.5%)Stockchase Research Editor: Michael O'Reilly Our PAST TOP PICK with BNS has triggered its stop at $$87.50. To remain disciplined, we recommend covering the position at this time. This will result in a net investment loss of 2%, when combined with the previous buy recommendation. We will watch for future re-entry into the position.

HOLD

Like TD Bank it is a long term hold for 5 to 10 years. Its fair market value is quite a bit higher.

PAST TOP PICK

(A Top Pick Apr 09/21, Up 20.44%) Yield of 4.3%, reasonable payout ratio. You can hold it for the long run. He's been cutting back on financial exposure in general, because the yield curve is not as favourable and puts pressure on the banks.

BUY ON WEAKNESS

BNS vs. RY Broadly, Canadian banks are all driven by the consumer and mortgage market. RY is the premier name in Canada, he owns it at full weight, no plans to sell, not buying for new clients until there's a pullback. Canadian franchise is solid, great capital markets business, good long-term. Forays into US appear solid. One of the lower dividend yields in the space. BNS has one of the highest yields, more focused in Latin America, recent Chilean acquisition still TBD. He owns a small position. His other preference is TD. He's not adding to any of the banks, waiting to see how market digests rate increases and hoping for a market pullback.

COMMENT

Effect of the inverted yield curve? That curve measures interest rates from 30day money to 30-year. The longer you invest, the more you should get paid. What's happening now is that very-long duration bonds have declined as short-terms have risen. So that yield curve is flat. Sometimes, an inverted curve presages a recession, but he's not sure this will happen. When central banks unwind long-bond positions, he expects that yield curve to rise and will sort out the inversion. No, this isn't an issue for BNS.

HOLD

International operations present good opportunity for growth. Company is a good long term hold. Stock price is expensive at the moment. Buy if share price suffers a decline.

HOLD

Still happy with it. Has another 15-20% to go from here. Reserves are flowing back in. Expects more dividends. Hopes they don't use excess cash to buy back stock, he's plugging for higher dividends.

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Curated by Michael O'Reilly since 2020.
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TOP PICK

Stockchase Research Editor: Michael O'Reilly With recently reported earnings beating estimates by 37%, we reiterate BNS as a TOP PICK. It trades at 12x earnings and with further earnings growth forecasted next year, that should drop down to 8x. It is currently valued at just under 1.7x book value. It pays an excellent dividend, backed by a payout ratio under 55% of cash flow. We recommend trailing up the stop (from $78.50) to $87.50, looking to achieve $104 -- upside potential over 11%. Yield 4.25% (Analysts’ price target is $92.77)

TOP PICK

A long-time favourite (also RY and CM). Sells at a modest discount to peers. All banks will do well with rising rates. He likes their commodity exposure and international diversity, namely South America. Expects more dividend hikes (Analysts’ price target is $95.07)

BUY

Canadian Banks are solid and are holding above the moving average. BNS and other banks are good for the short and mid term. Some concern for the long term with Fintechs coming in and nibbling around the edges of the banks.

TOP PICK

Big footprint in EM. Canada's third largest. Acquisitions are done for now. Visible path to double-digit returns, at just over 11x earnings. Record high, more in store. Yield is 4.40%. (Analysts’ price target is $94.15)

TOP PICK

Canadian banks are attractive due to rising interest rates. The bank has been underperforming compared to other big Canadian banks due to exposure to Latin America where vaccines aren't as prevalent. Trading at 10.5x earnings, inexpensive historically.

COMMENT

Likes stock because emerging market footprint is unique. Undervalued emerging market footprint. Business is positioned well to improve operating performance.

TOP PICK

She likes the Canadian banks. BNS lagged the group, but trades at a double-digit discount in PE to its peers. Their international business has lagged the recovery because Covid has hit those areas hard; amounts to 20% of their overall business. They're restructuring but improving. The valuation discount will shrink. BNS raised their dividend and pays a 4.7% dividend at a a 47% payout ratio. (Analysts’ price target is $93.15)

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Bank of Nova Scotia (BNS.TO)