Bank of Nova Scotia (BNS-T)
1555 watching
TSE:BNS
75.56
0.05
(0.07%) 1d
Financials
Technical Analysis
Buy, Sell or Hold?
Jun 24, 2022, 8:00 pm
0
PAST TOP PICK
(A Top Pick Jun 21/21, Up 6%) It has caught up but has since sold off. The challenges are due to international banking. Also it announced recently it is moving from unsecured lending to secured lending so it doesn't have the financial flexibility of other banks. He is considering selling and moving the money elsewhere.
banks
$0.000
Owned
PAST TOP PICK
(A Top Pick Aug 25/21, Up 4%) It is like CM and all banks. It should break through good tech support at about $78. There is not enough to move banks up.
banks
HOLD
Watch earnings this month. Look at how increase in net interest margins is perhaps offset by slowing in mortgages. Loan book will be under scrutiny. This year has been tough on investment banking, due to few IPOs and little M&A. Examine strength of international operations. Great yield, low PE and price to book. Canadian banks have lots of capital, and you can get though these times owning them.
banks
BUY
Are bank stocks safe again? Canadian banks have outperformed the TSX throughout his entire career. There's fear that rising rates will make mortgages uncertain. But given this correction, you can nibble at the Canadian banks now, one of the safest assets in Canada, since they are protected by law. His favourite bank here is BNS given their exposure in South America, which were badly hit by Covid and they have wide mining exposure. The safer bet is CIBC, because it's well-managed, is more exposed to the Canadian economy which is thriving because of demand for natural resources, and it pays a good dividend.
banks
STRONG BUY
One of his favourites at the moment among Canadian banks. Price to book ratio is middle of the pack. Internationally exposed, especially South America, which is more exposed to the commodity cycle. Expects it to do well for the next number of years. Yield is amongst the highest.
banks
BUY
BNS vs. NA Prefers BNS. Refocused, sold off non-core international geographies. Well positioned. Gives you exposure to international and Latin American economies, which may be uneven but represent more attractive long-term growth.
banks
PAST TOP PICK
(A Top Pick Feb 10/22, Down 6.5%)Stockchase Research Editor: Michael O'Reilly Our PAST TOP PICK with BNS has triggered its stop at $$87.50. To remain disciplined, we recommend covering the position at this time. This will result in a net investment loss of 2%, when combined with the previous buy recommendation. We will watch for future re-entry into the position.
banks
HOLD
Like TD Bank it is a long term hold for 5 to 10 years. Its fair market value is quite a bit higher.
banks
PAST TOP PICK
(A Top Pick Apr 09/21, Up 20.44%) Yield of 4.3%, reasonable payout ratio. You can hold it for the long run. He's been cutting back on financial exposure in general, because the yield curve is not as favourable and puts pressure on the banks.
banks
BUY on WEAKNESS
BNS vs. RY Broadly, Canadian banks are all driven by the consumer and mortgage market. RY is the premier name in Canada, he owns it at full weight, no plans to sell, not buying for new clients until there's a pullback. Canadian franchise is solid, great capital markets business, good long-term. Forays into US appear solid. One of the lower dividend yields in the space. BNS has one of the highest yields, more focused in Latin America, recent Chilean acquisition still TBD. He owns a small position. His other preference is TD. He's not adding to any of the banks, waiting to see how market digests rate increases and hoping for a market pullback.
banks
COMMENT
Effect of the inverted yield curve? That curve measures interest rates from 30day money to 30-year. The longer you invest, the more you should get paid. What's happening now is that very-long duration bonds have declined as short-terms have risen. So that yield curve is flat. Sometimes, an inverted curve presages a recession, but he's not sure this will happen. When central banks unwind long-bond positions, he expects that yield curve to rise and will sort out the inversion. No, this isn't an issue for BNS.
banks
HOLD
International operations present good opportunity for growth.
Company is a good long term hold.
Stock price is expensive at the moment.
Buy if share price suffers a decline.
banks
HOLD
Still happy with it. Has another 15-20% to go from here. Reserves are flowing back in. Expects more dividends. Hopes they don't use excess cash to buy back stock, he's plugging for higher dividends.
banks
TOP PICK
Stockchase Research Editor: Michael O'Reilly With recently reported earnings beating estimates by 37%, we reiterate BNS as a TOP PICK. It trades at 12x earnings and with further earnings growth forecasted next year, that should drop down to 8x. It is currently valued at just under 1.7x book value. It pays an excellent dividend, backed by a payout ratio under 55% of cash flow. We recommend trailing up the stop (from $78.50) to $87.50, looking to achieve $104 -- upside potential over 11%. Yield 4.25% (Analysts’ price target is $92.77)
banks
TOP PICK
A long-time favourite (also RY and CM). Sells at a modest discount to peers. All banks will do well with rising rates. He likes their commodity exposure and international diversity, namely South America. Expects more dividend hikes (Analysts’ price target is $95.07)
banks
Bank of Nova Scotia(BNS-T) Rating
Ranking : 5 out of 5
Bullish - Buy Signals / Votes : 18
Neutral - Hold Signals / Votes : 5
Bearish - Sell Signals / Votes : 1
Total Signals / Votes : 24
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, 24 stock analysts published opinions about BNS-T. 18 analysts recommended to BUY the stock. 1 analyst 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?
24 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 2022-06-24, Bank of Nova Scotia (BNS-T) stock closed at a price of $75.56.
