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

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Bank of Nova Scotia (BNS.TO)

112.36

-0.75 (0.66%)

as of Jun 5, 2026, 8:00:00 pm Market Open.

2155 watching

Investor Insights

Jun 6, 2026, 12:00 am

This summary was created by AI, based on 30 opinions in the last 12 months.

The Bank of Nova Scotia (BNS) presents a mixed outlook among experts. While many see it as a long-term hold with solid fundamentals, including a strong dividend yield of around 4.5%, there are concerns about its lagging performance compared to peers and uncertainty surrounding its recent strategic decisions, such as the investment in KEY. Some analysts express optimism about the new management's direction and potential for growth, particularly in U.S. and international markets, while highlighting improvements in capital ratios and clean-ups in operations. Despite a recent uptick in share price and general strength in Canadian banks, several experts recommend caution, suggesting trimming positions or holding off on new investments until clearer opportunities arise due to concerns over the housing market and the credit cycle. Overall, BNS is recognized for its international focus and potential for recovery but still faces questions about its strategic execution and market position.

Consensus

Hold

Valuation

Undervalued

Similar

TOP PICK

Selling at a fairly reasonable valuation. The most stable of the group.

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BUY

(Market Call Minute.) Would be a buyer here.

TOP PICK

Superb management. Very steady. Well diversified internationally business wise. Good underlying retail base. Looking at acquiring a US bank which is very opportunistic. Earnings are in the neighbourhood of $4 this year and maybe $4.30 next year. 4.1% yield.

DON'T BUY

All of the banks have been caught in the credit crunch originating in the US. He is not a buyer of the banks at this time. Doesn't know if we are at the bottom or not. Not worth taking a gamble on yet.

PAST TOP PICK

(A Top Pick Apr 23/07. Down 15.2%.) Fell less than the other banks/financials partially because they are very conservative and they don't have any US retail. 1/3 of earnings are from Latin America and Asia. Very well run and low cost ratio. If you buy now you get a 5%-6% yield, which is 2% higher than the 10% Government of Canada plus you get a dividend tax credit.

DON'T BUY

Bank of Nova Scotia (BNS-T), Royal Bank (RY-T) and Toronto Dominion (TD-T) are probably the most expensive banks in North America and possibly even the European banks. The upside in his model price is in single digits. The most upside to his model prices are National Bank (NA-T), CIBC (CM-T) and Bank of Montreal (BMO-T).

COMMENT

Some of his new accounts brought shares in which he hasn't sold, but he does not own. In general, you are not going to see the same growth rate in bank earnings as you have in the past 5 years. (You will probably see earnings growth of 3% to 5% but you will get a very good yield.) This bank is the exception, which is giving some first call earnings growth that is pretty good. If you are going to own any bank, this would be the one.

DON'T BUY

Still early to be putting new money into the banks. Domestically not the number 1 or 2 player, TD and Royal are. The Caribbean exposure isn’t generating a lot of growth profit. Still more downside in financials.

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DON'T BUY

Would stay away from the entire sector at this point.

TOP PICK

Likes the Latin America exposure, also likes the management. Solidly acquiring smaller banks in the Caribbean Basin and Central and South America. Which means they are moving out of the crowded Canadian market and giving themselves room to grow. Their rivals have done the same thing in the US, but it is again a crowded market.

WAIT

His favourite bank of the majors. Has an excellent international positioning. Not totally happy with any of the banks because there is still unhappy news to come. The happy news is that they have big dividends.

PAST TOP PICK

(A Top Pick Mar 14/07. Down 11% including dividends.) Still a Partial Buy, particularly if you have low exposure to financials. Over 4% yield. Their credit losses are the lowest among Canadian banks. Good geographic diversification.

SELL

Wouldn't be in the banking sector of all. With all the products going up on the banks, they have nothing to replace them for growth.

BUY

Not exposed to the US retail. One third of its earnings come from Mexico, Chile, Peru, Caribbean, Thailand and China.

TOP PICK

Not exposed to loan losses in the US. Have a great credit standard. Their expansion into Latin America and Caribbean is very well thought out.

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Bank of Nova Scotia (BNS.TO)