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

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Bank of Nova Scotia (BNS.TO)

127.29

-0.71 (0.55%)

as of Sep 9, 2026, 8:00:01 pm Market Open.

2151 watching

Investor Insights

Sep 9, 2026, 12:00 am

This summary was created by AI, based on 23 opinions in the last 12 months.

The reviews regarding the Bank of Nova Scotia (BNS) present a mixed view among experts. While some highlight its attractive valuation and the potential for earnings growth, particularly due to improvements in operations and the strategic shift towards North America, others express concerns about its weaker performance relative to peers like Royal Bank of Canada (RY). There are apprehensions regarding its exposure to Caribbean markets and uncertainty surrounding its international strategies. Despite its high dividend yield, some analysts suggest it may not be the best choice compared to other Canadian banks, mentioning that it struggles with loan growth and credit quality issues. Overall, experts acknowledge potential for the long-term but recommend cautious positioning.

Consensus

Cautious

Valuation

Fair Value

Similar

BUY

Billy Kawasaki’s Insights - Billy’s most-liked answers from 5i Research. It has better yield than some other banks and is slightly cheaper. It has underperformed but historically the worst performer during a period turns better in the next period and reverts to the mean. Unlock Premium - Try 5i Free

BUY

He's added to this recently. The banks have done a very good job; their capital ratios remain resilient. He sees no risk of any Canadian bank cutting their dividends--they're safe. We've probably seen the worst impact of Covid on their earnings. There's a lot of stimulus out there. Balance sheets are in good shape. Wealth management businesses have done well during this pandemic. Trades at a decent valuation and pays a good dividend. It's a safe investment. He's long the banks, Canadian and US.

HOLD

Billy Kawasaki’s Insights - Picks from 5i Research. It has underperformed and investors have priced in much of the risk, including lower performance in Latin America. The dividend payout ratio is very low and the dividend is considered safe. Unlock Premium - Try 5i Free

HOLD

It has been the poorest performer of the Canadian banks for some time. He believes there needs to be a management change. The yield is attractive. Banking will be a tough business going forward because of low interest rates. We shouldn't see mass default due to government aid. The dividend is safe.

DON'T BUY

He prefers CIBC or RY (capital markets are driving stronger revenue), and he isn't looking at BNS. He has little exposure to financial services. However, banks are showing improving technical signals, like attractive valuations and starting to approach previous highs. BNS has exposure to Latin America, which is another headwind.

HOLD

They own it in their client portfolio. They have streamlined operations in their international offerings. In doing so, their earnings were a little choppy which caused the underperformance. Going forward it should see earnings growth. They are well positioned and the dividend is safe.

HOLD

With a 10-year time horizon, any of the banks are good investments. Low multiples, good dividends. Loan losses will be higher for a couple of quarters for sure. Dividends aren't being cut. You should have some banks in your portfolio. He owns it.

BUY ON WEAKNESS

They have less diversification compared to TD Bank, but he is not too worried on credit losses. Their dividend is sustainable and the capital ratio is alright. He would be accumulating around these levels.

COMMENT

Trades near 10x PE. But BNS suffers because they have assets in emerging markets, namely South America, where economies will struggle for the next while. That said, BNS understands international banking like no other Canadian bank. Expect volatility in BNS and Canadian banks in general will take on more loan losses. In terms of tech, BNS is catching up to its peers now.

BUY

He likes the Canadian banks long term. They pay consistent dividends and enjoy an oligopoly, which has created great returns over time. Loan losses will be ugly for the next quarters. He ranks TD first, then BNS. BNS has more exposure in oil and gas, but that's already priced in. Their Latin American operations will work out in time. He's not worried about a housing crash in Canada. Very low rates will remain a tailwind; when rates rise, he will be cautious.

BUY

Canadian bank for dividends? For a 10-15 year time horizon, the Canadian banks are a pocket of value. They are trading less than 10 times forward earnings, which already include loan loss provisions. They have high asset qualities. Buying here is a winning formula for the long term. The dividend will pay you to wait for the market to return to normal post-pandemic. TD, RY and BNS happen to be the ones he favors for his clients. They have exposure to international markets. BNS has the best valuation and the dividend yield is better than its peers.

PAST TOP PICK

(A Top Pick Jul 25/19, Down 18%) The asset quality is there and quality is strong. Over time this will produce good income. Loan loss provisions have gone up and he thinks BNS will weather the storm. Don't sell this now. A good time to buy. You get paid to wait for the economy to improve with the strong dividend.

BUY ON WEAKNESS

7.2% yield? He is not sure there is ever a period that Canadian banks are not a good investment over a 10 year period. The dividends have never been cut by the big chartered banks. You could buy on weakness and the dividends will be quite safe. NOTE: He works for Scotiabank, but the comments are general for all the Canadian chartered banks.

BUY

It is a core part of his portfolio along with two other banks. It will be feeling the recession this year. There will be a huge uptick in provisions for loan losses. But this one is reasonably reserved for any credit losses. They have a sizable provision. They have lots of capital and the shares are attractively priced. The dividends are attractive. There is a paid-to-wait prospect. It is a good entry point.

PAST TOP PICK

(A Top Pick Jun 26/19, Down 15%) None of the top 5 Canadian banks has ever cut dividends. These banks are in great shape and can weather this storm. Half of BNS' loans are insured. Bank amendments benefit the banks and not non-bank lenders.

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Bank of Nova Scotia (BNS.TO)