Bank of Nova Scotia (BNS-T)
1590 watching
TSE:BNS
65.70
0.39
(0.59%) 1d
Financials
Technical Analysis
Buy, Sell or Hold?
Sep 30, 2022, 8:00 pm
0
BUY on WEAKNESS
Currently shares are presenting a good buying opportunity.
Excellent business with good long term prospects.
Is a good time to buy.
banks
$65.700
Unknown
WAIT
The markets dislike uncertainty and since they have just hired a CEO from outside the bank, wait for things to settle down and firm up.
banks
DON'T BUY
Missed numbers. NIM decreased, which was surprising. Volatility always present from Latin and South American assets. Not a fan of their geographic strategy. USD vs. EM will always put a discount on the stock. Prefers TD or RY.
banks
BUY
Compelling dividend yield. Lots of SA exposure related to commodities, and political changes may have weighed on the stock. Going into this uncertain period, you want strong, stable earnings with a reliable dividend.
banks
PARTIAL BUY
You can start buying it here. The banks are trading below historic PE and the yields are attractive. The banks never cut their dividends. Buy a GIC instead? A bank dividend pays as much as a GIC, but also gives you capital appreciation as the share price rises over time.
banks
TOP PICK
Stockchase Research Editor: Michael O'Reilly During this period of market uncertainty, we reiterate BNS as a TOP PICK. Canadian chartered banks are the class to hold -- especially when they are on sale. Trading at only 9x earnings and at 1.25x book value, it is good value here. Recently reported earnings beat analyst expectations for the 7th consecutive quarter and support a 15% ROE. It pays a great dividend, backed by a payout ratio under 50% of cash flow. We are recommending sliding the stop loss (from $67.50) to $61.50, targeting $87 -- upside potential over 21%. Yield 5.49% (Analysts’ price target is $86.93)
banks
TOP PICK
Bank of Nova Scotia engages in the provision of financial products and services, including personal, commercial, corporate, and investment banking. It operates through the following segments: Canadian Banking, International Banking, Global Banking and Markets, and Other. The Other segment includes group treasury, smaller operating segments and business line elimination items. The company was founded on March 30, 1832 and is headquartered in Toronto, Canada. Social media mentions are up 1400% in the past 24h.
banks
COMMENT
The question was on banks. Recent reports from Canadian banks were mixed but they are good blue chip stocks. Royal Bank has room to go higher next year. The Bank of Nova Scotia has better growth due to their exposure to emerging and Latin American markets which should have a better outlook for the second half of 2023.
banks
BUY
Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research. Valuation gap with peers has widened.
International exposure dampening sentiment.
Healthy loan growth.
Industry-wide rising provisions.
banks
HOLD
Holds a small position for the yield of 5.6%. High quality, like all the banks. Pretty reasonable payout ratio. Cheap at 8.7x earnings. Probably more volatility for the group as we work through recession fears.
banks
BUY
Owns a bit of this. Their net interest margins disappointed today. BNS commented that with rising interest rates that customers are transitioning from deposit chequing accounts to GICs, so they don't get that lag time (what banks pay on your bank account vs. what they charge on a mortgage) as rates rise. Canadian banks are great income stocks, but stocks have pulled back on economy fears. Canadian have outperformed US banks. Buy on pullbacks. Are good income investments. The banks won't release provisions, because the economy is slowing. But the banks are still enjoying loan growth. Now is an attractive entry point for a long-term hold. You can start building a position. Valuations are fallen below historic averages, attractive. Balance sheets are strong and dividends are safe in this sector.
banks
BUY
Unique footprint. With the pandemic, they're in regions of the world where the response wasn't as swift as it was in developed markets. Pruned international operations and built up Canadian wealth business. Well positioned for the longer term. Valuation and dividend yield are attractive right now.
banks
DON'T BUY
Its international exposure makes it stand out, but this faces a strong USD. Their rivals are more aggressive in expanding in the U.S. BNS didn't make the smartest bet by emphasizing Latin America who BNS has stumbled. He no longer owns this.
banks
TOP PICK
Stockchase Research Editor: Michael O'Reilly With a reliable dividend growing annually at 5%, BNS is selected as a TOP PICK. Analysts expect earnings grow of 7% over the year. It trades at 9x earnings and only 1.3x book value. Earnings continue to beat expectations and support a 15% ROE. The dividend yield is great and is backed by a payout ratio under 50% of cash flow. We recommend a stop loss at $67.50, looking to achieve $90 -- upside potential over 18%. Yield 5.45% (Analysts’ price target is $90.04)
banks
BUY
The Canadian banks have pulled back this year, though are outperforming the U.S. ones. The concern is higher interest rates, the impact on the housing market, and high inflation that could tip the economy into recession. Now, the banks are attractive; forward PE are single-digit and price-to-book are historically low. Share prices are discounting a slowdown, but the banks will continue to grow. The banks set up a lot of provisions during the pandemic and haven't released all of them; rather, they will slowly rebuild those provisions. The yields remain attractive.
banks
Bank of Nova Scotia(BNS-T) Rating
Ranking : 5 out of 5
Bullish - Buy Signals / Votes : 21
Neutral - Hold Signals / Votes : 6
Bearish - Sell Signals / Votes : 3
Total Signals / Votes : 30
Bank of Nova Scotia(BNS-T) Frequently Asked Questions
What is Bank of Nova Scotia stock symbol?
Bank of Nova Scotia is a Canadian stock, trading under the symbol BNS-T on the Toronto Stock Exchange (BNS-CT). It is usually referred to as TSX:BNS or BNS-T
Is Bank of Nova Scotia a buy or a sell?
In the last year, 30 stock analysts published opinions about BNS-T. 21 analysts recommended to BUY the stock. 3 analysts recommended to SELL the stock. The latest stock analyst recommendation is . Read the latest stock experts' ratings for Bank of Nova Scotia.
Is Bank of Nova Scotia a good investment or a top pick?
Bank of Nova Scotia was recommended as a Top Pick by on . Read the latest stock experts ratings for Bank of Nova Scotia.
Why is Bank of Nova Scotia stock dropping?
Earnings reports or recent company news can cause the stock price to drop. Read stock experts’ recommendations for help on deciding if you should buy, sell or hold the stock.
Is Bank of Nova Scotia worth watching?
30 stock analysts on Stockchase covered Bank of Nova Scotia In the last year. It is a trending stock that is worth watching.
What is Bank of Nova Scotia stock price?
On 2022-09-30, Bank of Nova Scotia (BNS-T) stock closed at a price of $65.7.
