Bank of Nova Scotia
BNS-T
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About Bank of Nova Scotia (BNS-T)
The Bank of Nova Scotia, operating as Scotiabank, is a Canadian multinational bank. It is the third largest bank in Canada by deposits and market capitalization.
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PAST TOP PICK
PAST TOP PICK
August 20, 2019
(A Top Pick Sep 18/18, Down 8%) Well-run and pays a good dividend. They spent a lot buying asset management firms. Some investors aren't happy with BNS's spending or management. He sold it out of frustration. Latin America may be interesting...long term. Their capital markets division is struggling.
(A Top Pick Sep 18/18, Down 8%) Well-run and pays a good dividend. They spent a lot buying asset management firms. Some investors aren't happy with BNS's spending or management. He sold it out of frustration. Latin America may be interesting...long term. Their capital markets division is struggling.
banks
BUY
BUY
August 15, 2019
banks
Lorne Steinberg
President & Portfolio Manager, Lorne Steinberg Wealth Management Inc
$67.410
Unknown
COMMENT
COMMENT
August 13, 2019
banks
DON'T BUY
DON'T BUY
August 9, 2019
He owns no Canadian banks because of the housing climate here and the general economy. BNS is the most internationally exposed, but investors are worried about emerging markets given trade war tensions, which could escalate. If you have a 5-10-year horizon, you won't lose much with BNS, but you won't gain much either. His choice of bank is TD-T for its large U.S. presence.
He owns no Canadian banks because of the housing climate here and the general economy. BNS is the most internationally exposed, but investors are worried about emerging markets given trade war tensions, which could escalate. If you have a 5-10-year horizon, you won't lose much with BNS, but you won't gain much either. His choice of bank is TD-T for its large U.S. presence.
banks
DON'T BUY
DON'T BUY
August 6, 2019
Stop? Down about 21% off the highs. He looks for the themes that are working. The first stock to double in a recovery is the one that doubles again first. When you are a leader you have an easier time running your company. He does not believe in buying the weakling in the group. He is not sure why BNS has been struggling, so he would be cautious.
Stop? Down about 21% off the highs. He looks for the themes that are working. The first stock to double in a recovery is the one that doubles again first. When you are a leader you have an easier time running your company. He does not believe in buying the weakling in the group. He is not sure why BNS has been struggling, so he would be cautious.
banks
PAST TOP PICK
PAST TOP PICK
July 26, 2019
(A Top Pick Jul 31/18, Down 4%) Still likes it and buying it for their clients. Has international operation that has had some challenges. New CEO has changed a lot of senior heads. Not 100% convinced the strategy is working, but wait and see, he hasn't been in the job for too long. Hopefully that will continue to work based on what we see so far. All banks globally are struggling. With low interests rates the returns aren't great. Banks are somewhat of utility at the moment.
(A Top Pick Jul 31/18, Down 4%) Still likes it and buying it for their clients. Has international operation that has had some challenges. New CEO has changed a lot of senior heads. Not 100% convinced the strategy is working, but wait and see, he hasn't been in the job for too long. Hopefully that will continue to work based on what we see so far. All banks globally are struggling. With low interests rates the returns aren't great. Banks are somewhat of utility at the moment.
banks
TOP PICK
TOP PICK
July 25, 2019
His favourite. Not firing on all cylinders right now. Domestic acquisitions, internationally restructuring. Negative sentiment around it. Price multiple is 10x. Building out scale in Canada, increasing efficiencies. Globally, tapping into emerging middle class. Yield is 4.92%. (Analysts’ price target is $77.36)
His favourite. Not firing on all cylinders right now. Domestic acquisitions, internationally restructuring. Negative sentiment around it. Price multiple is 10x. Building out scale in Canada, increasing efficiencies. Globally, tapping into emerging middle class. Yield is 4.92%. (Analysts’ price target is $77.36)
banks
DON'T BUY
DON'T BUY
July 18, 2019
banks
PAST TOP PICK
PAST TOP PICK
July 16, 2019
(A Top Pick Jul 03/18, Down 2%) The Canadian banks are good value right now. They trade between 9 & 12 times earnings. The yield is almost 5% and there could be room for dividend growth. He continues to add to his clients holdings.
(A Top Pick Jul 03/18, Down 2%) The Canadian banks are good value right now. They trade between 9 & 12 times earnings. The yield is almost 5% and there could be room for dividend growth. He continues to add to his clients holdings.
banks
PAST TOP PICK
PAST TOP PICK
July 12, 2019
(A Top Pick Jun 26/18, Down 2%) It's a little cheap vs. its peers and will catch up to the others over time. It needs to digest recent acquisitions, as their international operations come along. He's a little worried about Canadian mortgages, but a 5-7% return is respectible.
(A Top Pick Jun 26/18, Down 2%) It's a little cheap vs. its peers and will catch up to the others over time. It needs to digest recent acquisitions, as their international operations come along. He's a little worried about Canadian mortgages, but a 5-7% return is respectible.
banks
PAST TOP PICK
PAST TOP PICK
July 12, 2019
(A Top Pick Jul 06/18, Down 2%) Good stock. Into various jurisdictions in Central and South America where growth rate will continue to be good. Not an exciting place until we get beyond the current economic cycle. Yield is 5%.
(A Top Pick Jul 06/18, Down 2%) Good stock. Into various jurisdictions in Central and South America where growth rate will continue to be good. Not an exciting place until we get beyond the current economic cycle. Yield is 5%.
banks
BUY
BUY
July 10, 2019
She is looking at it closely and has added it to some client portfolios. They are re-focusing what they want to do in the Caribbean. It should do well and has an attractive dividend yield as well.
She is looking at it closely and has added it to some client portfolios. They are re-focusing what they want to do in the Caribbean. It should do well and has an attractive dividend yield as well.
banks
PAST TOP PICK
PAST TOP PICK
July 3, 2019
(A Top Pick Jul 04/18, Up 0.2%) Somewhat of a laggard compared to the other Canadian banks. He likes it because it has the smallest exposure to Canada. Their acquisitions into wealth managing companies should take time to develop. He would continue to hold it.
(A Top Pick Jul 04/18, Up 0.2%) Somewhat of a laggard compared to the other Canadian banks. He likes it because it has the smallest exposure to Canada. Their acquisitions into wealth managing companies should take time to develop. He would continue to hold it.
banks
HOLD
HOLD
July 3, 2019
Selling the covered call to gain more income. This has work until recently. Do in the money covered calls instead? If you do, you'll lose the dividend when you sell it. He wouldn't because you'll likely lose the stock and the dividend.
Selling the covered call to gain more income. This has work until recently. Do in the money covered calls instead? If you do, you'll lose the dividend when you sell it. He wouldn't because you'll likely lose the stock and the dividend.
banks
DON'T BUY
DON'T BUY
July 2, 2019
If there's a recession. After making some big deals, there are not seriously in the wealth management business. They also restructured. It will be hard to synergize the wealth management business. Also, BNS are big players in emerging markets, which have had a tough time and have pressured BNS. In a recession, all banks do poorly, but it depends what drives the recession (i.e. mortage defaults).
If there's a recession. After making some big deals, there are not seriously in the wealth management business. They also restructured. It will be hard to synergize the wealth management business. Also, BNS are big players in emerging markets, which have had a tough time and have pressured BNS. In a recession, all banks do poorly, but it depends what drives the recession (i.e. mortage defaults).
banks
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