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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Opinion
Expert
DON'T BUY
DON'T BUY
June 18, 2019
banks
WAIT
WAIT
June 4, 2019
It appears to be under some short term pressure with some negative press on in house operations. Some Mexico business may be pressured under concerns of tariffs from the US. They had two wealth management acquisitions that will take time to digest. A good long term hold, but wait for things to improve.
It appears to be under some short term pressure with some negative press on in house operations. Some Mexico business may be pressured under concerns of tariffs from the US. They had two wealth management acquisitions that will take time to digest. A good long term hold, but wait for things to improve.
banks
PAST TOP PICK
PAST TOP PICK
May 31, 2019
(A Top Pick Jul 06/18, Down 5%) It has a decent yield and has global exposure. He sees better growth in non North American areas. He is happy to hold this.
(A Top Pick Jul 06/18, Down 5%) It has a decent yield and has global exposure. He sees better growth in non North American areas. He is happy to hold this.
banks
TOP PICK
TOP PICK
May 28, 2019
International has been 15% + year over year. Growing well. The worst Canadian bank usually turns to be the better performer. P/E is 10 and Dividend Yield 5%. (Analysts’ price target is $78.17)
International has been 15% + year over year. Growing well. The worst Canadian bank usually turns to be the better performer. P/E is 10 and Dividend Yield 5%. (Analysts’ price target is $78.17)
banks
DON'T BUY
DON'T BUY
May 15, 2019
banks
HOLD
HOLD
May 10, 2019
They have consistently grown their yield. It operates in an oligopoly. It has been right sizing some of their businesses. A rate decrease will hurt their earnings. Not the cheapest in the space. Yield 4.85%
They have consistently grown their yield. It operates in an oligopoly. It has been right sizing some of their businesses. A rate decrease will hurt their earnings. Not the cheapest in the space. Yield 4.85%
banks
TOP PICK
TOP PICK
May 8, 2019
It's a play on underbanked territories (Latin America and parts of Asia). Boasts a 6% compound growth rate, a 14% discount to its 10-year average; 9.7x earnings. Now is a good entry point for a laggard Canadian bank. (Analysts’ price target is $79.17)
It's a play on underbanked territories (Latin America and parts of Asia). Boasts a 6% compound growth rate, a 14% discount to its 10-year average; 9.7x earnings. Now is a good entry point for a laggard Canadian bank. (Analysts’ price target is $79.17)
banks
PAST TOP PICK
PAST TOP PICK
May 3, 2019
(A Top Pick Jun 04/18, Up 0%) He would have expected a better return. It is good value here.
(A Top Pick Jun 04/18, Up 0%) He would have expected a better return. It is good value here.
banks
BUY
BUY
April 24, 2019
One of the cheaper names in the bank space in Canada. Their revenues come from outside Canada, including emerging markets where commodity prices at more at risk. This is reflected in their relative share price. In the long run this is a fine holding. It trades at 10 times earnings, near 5% dividend. Historically, this is an excellent time to buy Canadian banks.
One of the cheaper names in the bank space in Canada. Their revenues come from outside Canada, including emerging markets where commodity prices at more at risk. This is reflected in their relative share price. In the long run this is a fine holding. It trades at 10 times earnings, near 5% dividend. Historically, this is an excellent time to buy Canadian banks.
banks
COMMENT
COMMENT
April 17, 2019
Canadian Banks? Through 2020 be cautious. He only owns Scotiabank, with a smaller percent of business in Canada. The Canadian consumer is too stretched with debt and he worries about real estate values.
Canadian Banks? Through 2020 be cautious. He only owns Scotiabank, with a smaller percent of business in Canada. The Canadian consumer is too stretched with debt and he worries about real estate values.
banks
DON'T BUY
DON'T BUY
April 3, 2019
Canadian banks have minor seasonality: Oct-Dec and Jan-Apr. The last earnings were weak. Will this keep happening or was that a one-time weak report? Will the weaker housing market in Vancouver hurt the banks? Then again, Toronto housing is holding on. BNS's chart has a down trend since late-2017, which is not good. He doesn't see much upside with this group. It'll depend on May's report.
Canadian banks have minor seasonality: Oct-Dec and Jan-Apr. The last earnings were weak. Will this keep happening or was that a one-time weak report? Will the weaker housing market in Vancouver hurt the banks? Then again, Toronto housing is holding on. BNS's chart has a down trend since late-2017, which is not good. He doesn't see much upside with this group. It'll depend on May's report.
banks
BUY
BUY
April 1, 2019
CIBC vs. BNS Canadian bank shareholders haven't made money lately including himself. The market has been worrying about bank prospects (i.e. mortgage defaults) constantly, and yes Q1 was weak, but he expects banks to show positive earnings. Also, they trade at 9-10x earnings and pay good dividends that'll grow. Of the two, he'd pick BNS.
CIBC vs. BNS Canadian bank shareholders haven't made money lately including himself. The market has been worrying about bank prospects (i.e. mortgage defaults) constantly, and yes Q1 was weak, but he expects banks to show positive earnings. Also, they trade at 9-10x earnings and pay good dividends that'll grow. Of the two, he'd pick BNS.
banks
PAST TOP PICK
PAST TOP PICK
March 27, 2019
(A Top Pick Oct 01/18, Down 6%) Likes it as an international play in Latin America where margins are double in Canada. It's well-run. They've made big acqusitions in wealth management which ate into earnings. He still likes it. It pays nearly a 5% dividend.
(A Top Pick Oct 01/18, Down 6%) Likes it as an international play in Latin America where margins are double in Canada. It's well-run. They've made big acqusitions in wealth management which ate into earnings. He still likes it. It pays nearly a 5% dividend.
banks
PAST TOP PICK
PAST TOP PICK
March 26, 2019
(A Top Pick Feb 13/18, Down 4%) Believes in it for its international exposure in Latin American and SE Asia and its increasing dividend yield. It's been oversold.
(A Top Pick Feb 13/18, Down 4%) Believes in it for its international exposure in Latin American and SE Asia and its increasing dividend yield. It's been oversold.
banks
PAST TOP PICK
PAST TOP PICK
March 20, 2019
(A Top Pick Feb 21/18, Down 2%) All the Canadian banks have been down this period, but based on relative valuation, he'd pick BNS now. Pays a good dividend. Its relative valuation has slipped because it is exposed to Latin America. That said, this is a core holding of his and he owns a lot of it.
(A Top Pick Feb 21/18, Down 2%) All the Canadian banks have been down this period, but based on relative valuation, he'd pick BNS now. Pays a good dividend. Its relative valuation has slipped because it is exposed to Latin America. That said, this is a core holding of his and he owns a lot of it.
banks
Comments
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He's been a fan of BNS for many years. Moving into Latin America was a good idea, but TD and RY were smarter to expand into the U.S. BNS hasn't scored as well in Latin American as he expected, so he now favours TD as well as National Bank.