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

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Daily Stock Opinions and Ratings

Bank of Nova Scotia (BNS.TO)

125.36

-1.34 (1.06%)

as of Aug 18, 2026, 8:00:00 pm Market Open.

2153 watching

Investor Insights

Aug 18, 2026, 12:00 am

This summary was created by AI, based on 28 opinions in the last 12 months.

The Bank of Nova Scotia (BNS) is a major player in the Canadian banking sector, yet its performance has drawn mixed reviews from experts. Many highlight its relatively low price-to-earnings ratio and strong dividend yield, with some suggesting it trades at a fair valuation compared to peers. However, concerns persist regarding its management changes and strategic focus, particularly its exposure to markets in the Caribbean and the U.S. Some analysts question whether BNS can catch up to its competitors like Royal Bank of Canada (RY), which is often favored for its stability and performance. On the upside, several analysts express optimism about the overall health of Canadian banks, with BNS expected to benefit from improving economic conditions and strong capital reserves, even as they acknowledge challenges in its loan growth and international operations.

Consensus

Mixed

Valuation

Fair Value

Similar

DON'T BUY

Was the best bank over the last couple of years and became over extended and now taking a rest, both on an absolute basis and relative basis compared to some of the other banks. If buying a bank, the National Bank (NA-T) would be his choice.

BUY

A great bank. Have done a fantastic job, especially with their franchise in Latin America. Trades at a higher multiple than the other banks, but if you take out their capital it's actually cheaper. Will probably use their capital to buy back their shares or increase the dividends.

HOLD

Q: Bought both Bank of Nova Scotia (BNS-T) and Royal Bank (RY-T). Nova Scotia has not moved, but Royal has done well. A: Owning both is a good move. Nova Scotia has expertise outside the country with a great cost structure while Royal has a North American strategy and a great brand name. With both together, you'll get a better return for the risk.

BUY

Canadian banks have been good performers. His 2 favourite banks stocks are Toronto Dominion (TD-T) and Bank of Nova Scotia (BNS-T). Has the highest percentage of its earnings and revenues in international operations. Also big in bullion trading.

BUY

Top 3 choices in banks for the long term would be Toronto Dominion (TD-T), Bank of Nova Scotia (BNS-T) and Royal Bank (RY-T). Where this could be wrong is if the Bank of Montreal (BMO-T) gets taken over at some point and it would be thw big winner. Canadian Imperial Bank of Commerce (CM-T) is not particularily cheap right now.

TOP PICK

Best performing bank according to a recent survey. The most international of the Canadian banks. It's international assets are growing very strongly. Has the lowest cost ratio of any Canadian bank. 3.2% yield.

PAST TOP PICK

(A Top Pick Jan 31/05. Up 2%.) Her favourite bank. Likes the international diversification and the progress it's made on the retail side. Canadian banks continue to offer good value on a medium time frame. If we were to see a rapid ratcheting up of interest rates, they would be vulnerable, but this is not expected. Banks offer reasonable value here.

BUY

Banks are the cheapest in the financial area based on 12.2 to 12.8 X price earnings.

BUY

Likes Bank of Nova Scotia (BNS-T), National Bank (NA-T) and Royal (RY-T) better than CIBC (CM-T) which has chronically one of the worse performing of the Canadian banks. They are more profitable, better organized and more efficient.

DON'T BUY

What happens in the US ultimately works its way into the Canadian market. US banks are having a very difficult time and are down about 7% year to date. Canadian banks have had good yield support, but they really are not making a lot of headway. They are basically trading sideways.

DON'T BUY

Bank stocks are starting to top which is not surprising. The bull market started in 2002 and we are 2 1/2 years into the bull market. That's usually the time bank stocks start to move down.

DON'T BUY

Doesn't like the banks. They have just come off 52 week highs. Historically they always give you a chance to buy at some point and he is going to wait with his hands open at prices he is willing to pay. Wait until they get ugly.

DON'T BUY

Not looking for a lot of great returns on banks over the next year or so. They may underperform the market in general. Earnings growth has slowed. Between this and Toronto Dominion (TD-T), TD would be his first choice. Bank of Nova Scotia has had a great run over the last couple of years. More fully valued here.

BUY

Using P/E ratios, banks are among the cheapest in the financials. Bank of Montreal (BMO-T) and Bank of Nova Scotia (BNS-T) are the cheapest followed by Toronto Dominion (TD-T) then by Royal (RY-T) and CIBC (CM-T). His favourite is Toronto Dominion. Michael Sprung, of his firm, likes Bank of Nova Scotia and CIBC.

TRADE

Not as clearly a leader now as it was in 2003/2004. Prefers Toronto Dominion (TD-T) which has made a lot of good strategic moves with their amalgamation of Canada Trust and acquisition of Bank North in the US. Also likes Royal Bank (RY-T) which looks like it has finally turned around and was under owned.

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Bank of Nova Scotia (BNS.TO)