Bank of Nova Scotia (BNS.TO)

Transition is slow-going. Market didn't like its buying a stake in KEY. Question is:  where are they going strategically? Meanwhile, you have cost-cutting, capital markets, and share buybacks. Money has flowed to the TSX this year driving banks higher, but nothing has fundamentally changed with this name.

If you're overweight, you could trim. No calamity on the horizon. He'd just want to see some heat come out of the market before purchasing.

Because he works there, he can't really discuss the merits of this particular bank. So he'll talk about the sector instead.

Great numbers across the board. Many raised dividends, ROEs are improving. Yield curve is more upward-sloping, which is helping. PCLs have been a concern and ticked up, but less than what market expected. Better growth numbers. Expectations for earnings numbers are being increased. All the names are looking good here. 

When he looks at banks, he looks at the dividend and growth at the most reasonable price. BNS ticks those boxes. Looking really good despite its run, more to go.

If you own it, keep it; it'll be fine for the long term. Reported this week; lower-quality beat because it was on the backs of capital markets and wealth management. Stagnant loan growth, international PCLs are going up. Up 25% YTD, but lowest valuation of the group and highest dividend yield of ~4.6%. 

Hard to put new capital into the banks right now, as all banks are trading at a premium. Plus, we're not at the optimal time in the credit cycle to invest in the banks.

All banks are expected to report good numbers this week. BNS has jumped from $65 to $96. Is the turnarounds story in Canadian banks. Trades at 13x PE. The plans by the new CEO are starting to work. Likes it here. Pays a 4.5% dividend, higher than peers.

Outlook in Canada is a bit rosier than it was 6 or 12 months ago. He'd continue to hold the banks.

It's performing well because everything else is performing well. Should do fine as it goes through an operational turnaround, and this could lead to more upside. Instead he holds RY for almost all clients.

Highest yield of the Big 6, but more uncertainty surrounding selling down international assets and buying into the US. Didn't like many of the bank earnings last quarter because PCLs were released back into earnings once worst-case tariff scenario didn't come to pass. This was premature and too optimistic. Fears our economy might get worse before it gets better.

If you have it in your portfolio, keep it. But she's holding off on buying right now. 

Scores 6/10 in fundamentals. TD is up 50% this year vs. BNS 22%. BNS also lags over 20 years, with RY and NA being the best performers. She owns Royal instead. BNS is the leading Canadian bank. Maybe BNS will catch up to peers. They continue to have a footprint in Latin America, continue to invest in technology, and their Q2 showed steady loan growth and stable credit quality. Continue to hold if you own.

Prefers this one and remaining peers today to RY, just on valuation. Though RY is the best bank in Canada, this name trades at a far better multiple.

Investment in KEY is just that, an investment, not control. That's not a positive. Look elsewhere. Prefers TD or RY. 

Really likes new management. Changes are finally being reflected in the price. Most diversified of the Big 6. Now has foothold in US market via KEY to promote further growth. International appeal. Capital ratio went up, which is great. More growth and appreciation ahead. Nice dividend yield.

Breakouts are good, and they typically last for a while. Based on the recent quick move, you can expect a pullback. 

Looking at the 5-year chart, could meet some resistance at the $95 high of early 2022. But there isn't a big wall. Look back from late 2022 to mid-2024, there was a wall of around $70. One point in history is going to cause some resistance, but it's not as bad as multiple tests that can cause significant resistance.

Least reliable among its peers. Struggling with business model. Architect of its woes was previous management. Now a show-me story. Dividend growth and total return don't match banks he already owns.

Please see the previous response to Royal Bank for general banking comments. BNS is more internationally focused than the other banks and has a Latin America focus which is increasing from a an economic standpoint. It has a good yield and will do well long term along with other banks.

Prefers Canadian banks for their dividends. For instance, BNS is undervalued and pays a high dividend and trades at a low PE. There's room for the PE to expand. People buy foreign banks for the dividend, but you have to pay a withholding tax.

Using profits from TD to buy this one. Pretty confident in its turnaround potential. New CEO created doubt because he wasn't a banker, but he's great and doing a wonderful job. Highest yield at 6%, increased recently.