Bank of Nova Scotia (BNS.TO)

Exposed to Latin America which is sensitive to commodities. Trading at a lower book multiple than its peers and have strengthened its franchise here and abroad. Balance sheet is healthy. They've invested a lot into IT. It's not too late to buy Canadian banks, and still a good time given likely dividend increases and the fact that they are off their all-time highs. (4% dividend, $86.43 analysts' price target)

It is split between Canada and international markets including Chile, Mexico and the Philippines. He likes that diversification. The stock price is still recovering from a recent $1.5 billion acquisition. He thinks it is a buying opportunity at a level less than $80.

This is the only Canadian bank he owns. He likes it because (a) it has the least exposure to Canada of the Canadian banks and (b) it is the most international bank, having operations in Latin America and Asia. ScotiaBank has been making acquisitions that use its current capital and will take time to increase its earnings. The market is punishing it over the short term, but these are great long-term acquisitions.

One of the three banks he owns. BNS-T is one of the weaker ones and he thinks that makes it a potential buy. He sees support around these levels. If it traded below $74.50 he would sell. Yield 4%

(A top pick October 18/17, down 1%) This one is still in the starting gate. This is the heaviest weighted bank in their portfolio. Scotiabank is the poster child for emerging market exposure with operations in Mexico, Latin America, and South America. They are getting bigger in those geographies. And have double downed on wealth management with the acquisition of MD Management. Sentiment changing in emerging markets should put it back on track.

This is part of his Canadian portfolio. From the point of view of Canadian holdings, this is a good company to own because they’ve made two good acquisitions on the wealth management side. These will be accretive. Also the market seems to be successfully absorbing higher interest rates. Over the longer term, this has been a solid performer and it offers a good dividend yield. That makes it an interesting story even from the global perspective. (Analysts’ price target is $86.29)

The Mexican election is a near term potential uncertainty. He would prefer TD or Royal Bank – those with good assets in the US. He would continue to hold and ignore the near term issues. He likes the South American exposure for the long term.

Likes it. Consolidating for 2017-18. Now at low end of that range. It’s a laggard in the Canadian banks. Use a stop of around $72.80.

They lead the way in terms of trading at a discount. They have a strong footprint in Canada and have expanded internationally. If you are a longer term investor this one is appealing over the others. There is more volatility.

They have been adding to their holdings of this bank. During a recession you would expect loan losses to impact all banks, but BNS-T has been diversifying into South American assets of high quality.

He only has TD-T and BNS-T. What will throw BNS-T forward is the Canadian business. Their 20% plus ROE they invest in Latin America / Caribbean. The long term strategy is good. In the short term, who knows.

They've been punished more than their peers. They just acquired some top money managers and the street punished them. There'll be a write-off this quarter, but long-term these additions will benefit BNS. Pays a great dividend and should be enough growth to perform well. Well-managed. (Analysts' price target: $86.40)

(Past Top Pick, June 7, 2017, Up 4%) They're exposed to South America which are tied to commodities. So if there are commodity worries, then it effects this stock. He believes in management's investments in technology and that their Latin American presence will pay off in the long run. It remains a major holding for him and he will stick with it. It's a good buy here.

She owns different Canadian bank stocks, including TD. If she was setting up a new client, she would buy BNS today because of its price. The stock pulled back because of it issued equity to finance some large acquisitions. For the long run, the price will recover. It is a well-run institution.

He has it in a portfolio that only wants income as well as in a growth platform. The recent area of support seems to be being held so he added to his position recently. If it breaks below $75 he would want to end the trade. Otherwise he feels it will return to the $80 area.