Bank of Nova Scotia

BNS-T

TSE:BNS

75.21
0.31 (0.41%)
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.
More at Wikipedia

Analysis and Opinions about BNS-T

Signal
Opinion
Expert
DON'T BUY
DON'T BUY
December 6, 2019
If we see a Santa Clause rally in the market, most stocks will go up. Relative to the market, banks might see further erosion. He wouldn’t buy the bank just to play the rally. Still lots of changes in S. America. He would wait until January to see how it goes. We’re finishing off the seasonality of banks.
If we see a Santa Clause rally in the market, most stocks will go up. Relative to the market, banks might see further erosion. He wouldn’t buy the bank just to play the rally. Still lots of changes in S. America. He would wait until January to see how it goes. We’re finishing off the seasonality of banks.
Brooke Thackray
Research Analyst, Horizons ETFs (Canada) Inc.
Price
$74.900
Owned
No
COMMENT
COMMENT
December 4, 2019
Seasonal now? Typically bank stocks drift higher entering earnings season, so this is normal. Even though BNS match estimates, it sold off. Normal. That said, bank stocks can still do well, though he advises rotating from Canadian to American banks which enjoy more runway. $71 is support, which previously was the resistance level. BNS is holding up well with income growth.
Seasonal now? Typically bank stocks drift higher entering earnings season, so this is normal. Even though BNS match estimates, it sold off. Normal. That said, bank stocks can still do well, though he advises rotating from Canadian to American banks which enjoy more runway. $71 is support, which previously was the resistance level. BNS is holding up well with income growth.
Jon Vialoux
Research Analyst, CastleMoore Inc.
Price
$73.940
Owned
Unknown
BUY
BUY
December 3, 2019

BNS vs. BMO He prefers BNS, though their last report disappointed. Their credit did hold up well; capital positions are strong. BMO just reported this morning. BNS pays a slightly higher yield. PB is identical. BNS will enjoy a better upside given its Latin American operations, whereas BMO is focussed on North America. Both are buys.

BNS vs. BMO He prefers BNS, though their last report disappointed. Their credit did hold up well; capital positions are strong. BMO just reported this morning. BNS pays a slightly higher yield. PB is identical. BNS will enjoy a better upside given its Latin American operations, whereas BMO is focussed on North America. Both are buys.

Michael Sprung
President, Sprung Investment Management
Price
$74.680
Owned
Yes
BUY
BUY
November 29, 2019
This has been the toughest bank to own given their exposure in Chile and other locations in South America. He still owns a little for the international returns. Investors are likely putting a higher discount on them, because of the higher risk factors. You should still be able to see high single-digit returns this upcoming year. He would always hold a basket of the Canadian banks. You could pick up some at these levels.
Bank of Nova Scotia (BNS-T)
November 29, 2019
This has been the toughest bank to own given their exposure in Chile and other locations in South America. He still owns a little for the international returns. Investors are likely putting a higher discount on them, because of the higher risk factors. You should still be able to see high single-digit returns this upcoming year. He would always hold a basket of the Canadian banks. You could pick up some at these levels.
Robert Lauzon
Deputy Chief Investment Officer, Middlefield Capital Corporation
Price
$74.920
Owned
Yes
BUY
BUY
November 26, 2019
Results were in line with analyst estimates. Overall, banks have lagged here and represent good value here. Relative to US banks, they are trading at a good discount. Canadian housing market collapse concerns have been unfounded. Their move out of Caribbean markets was positive.
Bank of Nova Scotia (BNS-T)
November 26, 2019
Results were in line with analyst estimates. Overall, banks have lagged here and represent good value here. Relative to US banks, they are trading at a good discount. Canadian housing market collapse concerns have been unfounded. Their move out of Caribbean markets was positive.
Colin Stewart
CEO & Portfolio manager, JC Clark Investments Ltd.
Price
$75.800
Owned
Unknown
TOP PICK
TOP PICK
November 19, 2019
Any big Canadian bank is fine. It's consolidated a lot. It's underperformed its peers, but now it's ready to break out and will make up lost ground. For once, he doesn't need to chase it. (Analysts’ price target is $78.13)
Bank of Nova Scotia (BNS-T)
November 19, 2019
Any big Canadian bank is fine. It's consolidated a lot. It's underperformed its peers, but now it's ready to break out and will make up lost ground. For once, he doesn't need to chase it. (Analysts’ price target is $78.13)
Elliott Fishman
Director of U.S. and international equity trading, Trading Services Group, Scotia Wealth
Price
$76.280
Owned
Yes
PAST TOP PICK
PAST TOP PICK
November 15, 2019
(A Top Pick Nov 30/18, Up 10%) Still likes it. He thinks people misjudged the company simply because it’s not a pure Canadian play. More a play on central and South American play. It has one of the highest dividends for a bank.
Bank of Nova Scotia (BNS-T)
November 15, 2019
(A Top Pick Nov 30/18, Up 10%) Still likes it. He thinks people misjudged the company simply because it’s not a pure Canadian play. More a play on central and South American play. It has one of the highest dividends for a bank.
David Cockfield
Managing Director, Northland Wealth Management
Price
$76.100
Owned
Yes
BUY
BUY
November 13, 2019
Your Canadian bank holdings and weighting? He owns TD and BNS (and RY), slightly overweight the TSX, because they are good income stocks and offer good stock through a diversity of businesses and earnings, regardless of the economic cycle. Only fools short the banks.
Bank of Nova Scotia (BNS-T)
November 13, 2019
Your Canadian bank holdings and weighting? He owns TD and BNS (and RY), slightly overweight the TSX, because they are good income stocks and offer good stock through a diversity of businesses and earnings, regardless of the economic cycle. Only fools short the banks.
Brian Madden
Senior VP & Portfolio Manager, Goodreid Investment Council
Price
$76.430
Owned
Yes
HOLD
HOLD
November 8, 2019
He owns BNS and has for a while. It is the least Canadian of the big 6 banks in Canada -- holding the least amount of assets in Canada. They have large holdings in Latin America and elsewhere. He holds US banks for exposure there.
He owns BNS and has for a while. It is the least Canadian of the big 6 banks in Canada -- holding the least amount of assets in Canada. They have large holdings in Latin America and elsewhere. He holds US banks for exposure there.
Norman Levine
Managing Director, Portfolio Management Corp
Price
$76.420
Owned
Yes
COMMENT
COMMENT
November 1, 2019
If not banks, maybe utilities? He would continue to hold Bank stocks. Utilities could suffer if we continue to have a "normal" market and interest rates begin to rise. He does not have a holding in Canadian banks, they hold US banks, insurance or mortgage companies. Yield 4.8%
If not banks, maybe utilities? He would continue to hold Bank stocks. Utilities could suffer if we continue to have a "normal" market and interest rates begin to rise. He does not have a holding in Canadian banks, they hold US banks, insurance or mortgage companies. Yield 4.8%
Jason Mann
CIO & Co-Founder, Edgehill Patners
Price
$75.540
Owned
No
BUY
BUY
October 30, 2019
It has lagged due to issues with its foreign assets. He likes the Canadian banks in general. He would rank it 2nd or 3rd in terms of the Canadian big banks.
It has lagged due to issues with its foreign assets. He likes the Canadian banks in general. He would rank it 2nd or 3rd in terms of the Canadian big banks.
Don Lato
President, Padlock Investment Management
Price
$75.550
Owned
Unknown
TOP PICK
TOP PICK
October 29, 2019
They've been absorbing some acquisitions, including a wealth management one that's 50/50 Canadian/international. The latter will counter the soft global growth; looks pretty good. It went down last year, but will return to the low-80s. (Analysts’ price target is $77.13)
They've been absorbing some acquisitions, including a wealth management one that's 50/50 Canadian/international. The latter will counter the soft global growth; looks pretty good. It went down last year, but will return to the low-80s. (Analysts’ price target is $77.13)
Bruce Campbell (1)
President, Campbell and Lee InvMngmnt
Price
$75.190
Owned
Yes
DON'T BUY
DON'T BUY
October 23, 2019
He would not take a play in any of the major banks unless you are there for dividends for a very long term. When a recession hits, like in 2008, the banks will get punished again. You might look to European banks.
He would not take a play in any of the major banks unless you are there for dividends for a very long term. When a recession hits, like in 2008, the banks will get punished again. You might look to European banks.
Benj Gallander
President, Contra the Heard Investment Letter
Price
$75.090
Owned
No
TOP PICK
TOP PICK
October 22, 2019
Pays a 4.7% yield. They're expanding into wealth management well with acquisitions last year and enjoy improving international earnings momentum due to Chile. They're investing to improve their IT operations. Sells at a compelling valuation. (Analysts’ price target is $77.13)
Pays a 4.7% yield. They're expanding into wealth management well with acquisitions last year and enjoy improving international earnings momentum due to Chile. They're investing to improve their IT operations. Sells at a compelling valuation. (Analysts’ price target is $77.13)
Michael Sprung
President, Sprung Investment Management
Price
$0.000
Owned
Yes
TOP PICK
TOP PICK
October 17, 2019
It is his first Canadian bank recommendation. It has a loan to value on their uninsured mortgages in the low 60s. They can withstand a lot of pain. Their mortgage book is mostly residential housing vs. condos. You get almost a 5% dividend yield that will probably rise over the next 10 years. They will probably get a reasonable return even if interest rates never go up. (Analysts’ price target is $77.13)
It is his first Canadian bank recommendation. It has a loan to value on their uninsured mortgages in the low 60s. They can withstand a lot of pain. Their mortgage book is mostly residential housing vs. condos. You get almost a 5% dividend yield that will probably rise over the next 10 years. They will probably get a reasonable return even if interest rates never go up. (Analysts’ price target is $77.13)
Lorne Steinberg
President & Portfolio Manager, Lorne Steinberg Wealth Management Inc
Price
$75.490
Owned
Yes
TOP PICK
TOP PICK
October 10, 2019
Most globally ambitious. Number of acquisitions, which appear to be going well. Trading at a 10% discount to its historic valuation, 10x earnings. Consistent outperformance of the TSX. Yield is 4.81%. (Analysts’ price target is $77.13)
Most globally ambitious. Number of acquisitions, which appear to be going well. Trading at a 10% discount to its historic valuation, 10x earnings. Consistent outperformance of the TSX. Yield is 4.81%. (Analysts’ price target is $77.13)
Brian Madden
Senior VP & Portfolio Manager, Goodreid Investment Council
Price
$74.810
Owned
Yes
PAST TOP PICK
PAST TOP PICK
October 4, 2019
(A Top Pick Oct 05/18, Up 4%) It's come back quite nicely. All the banks have been back and forth. He likes BNS since it operates in higher growth areas. Their growth rates are 4-6%. Glad they are moving out of some Caribbean countries that were more trouble than good.
(A Top Pick Oct 05/18, Up 4%) It's come back quite nicely. All the banks have been back and forth. He likes BNS since it operates in higher growth areas. Their growth rates are 4-6%. Glad they are moving out of some Caribbean countries that were more trouble than good.
David Cockfield
Managing Director, Northland Wealth Management
Price
$74.250
Owned
Yes
BUY
BUY
September 23, 2019

Move to TD-T? All of our big banks are strong long term investments. He prefers TD-T based on margin. BNS-T gives you low risk exposure to emerging markets. He would not sell one to buy the other. It's not worth the tax hit.

Bank of Nova Scotia (BNS-T)
September 23, 2019

Move to TD-T? All of our big banks are strong long term investments. He prefers TD-T based on margin. BNS-T gives you low risk exposure to emerging markets. He would not sell one to buy the other. It's not worth the tax hit.

Rob McConnachie
Chief Investment Officer, Dixon Mitchell Investment Counsel
Price
$74.850
Owned
Unknown
PAST TOP PICK
PAST TOP PICK
September 20, 2019
(A Top Pick Oct 30/18, Up 11%) It is starting move upward now. It is 50% international in its business. They are getting out of Chile and Thailand. They have recently added some Canadian assets that the market did not like. Their last quarterly report was very positive and the market is starting to adjust. He will continue to hold it.
Bank of Nova Scotia (BNS-T)
September 20, 2019
(A Top Pick Oct 30/18, Up 11%) It is starting move upward now. It is 50% international in its business. They are getting out of Chile and Thailand. They have recently added some Canadian assets that the market did not like. Their last quarterly report was very positive and the market is starting to adjust. He will continue to hold it.
Bruce Campbell (1)
President, Campbell and Lee InvMngmnt
Price
$74.750
Owned
Yes
BUY
BUY
September 19, 2019
It's been the worst performer of the group until recently and Latin America is the big bet. It should grow at the slightly higher rate than Canada. He likes it at these levels.
Bank of Nova Scotia (BNS-T)
September 19, 2019
It's been the worst performer of the group until recently and Latin America is the big bet. It should grow at the slightly higher rate than Canada. He likes it at these levels.
Ryan Bushell
President, Newhaven Asset Management
Price
$74.500
Owned
Yes
PAST TOP PICK
PAST TOP PICK
September 17, 2019
(A Top Pick Jul 25/19, Up 6%) Good for income investors. Though weaker than its peers, BNS at 10x earnings is still a good stock worth buying.
Bank of Nova Scotia (BNS-T)
September 17, 2019
(A Top Pick Jul 25/19, Up 6%) Good for income investors. Though weaker than its peers, BNS at 10x earnings is still a good stock worth buying.
Christopher Blumas
Vice-President & Portfolio Manager, GlobeInvest Capital Management
Price
$74.750
Owned
Yes
PAST TOP PICK
PAST TOP PICK
September 9, 2019
(A Top Pick Aug 22/18, Down 3%) He continues to own and recommend it. We have seen some of the banks pull back in the last little while. It is trading between 1.3 and 1.4 times book. Their south American exposure slowed them down a bit. They are a well capitalized bank. He would continue to recommend it.
Bank of Nova Scotia (BNS-T)
September 9, 2019
(A Top Pick Aug 22/18, Down 3%) He continues to own and recommend it. We have seen some of the banks pull back in the last little while. It is trading between 1.3 and 1.4 times book. Their south American exposure slowed them down a bit. They are a well capitalized bank. He would continue to recommend it.
Michael Sprung
President, Sprung Investment Management
Price
$72.570
Owned
Yes
BUY
BUY
September 4, 2019
She likes the Canadian banks and that the economy is slowing. Today's bank valuations are reflecting that. BNS-T is selling off some non-core assets. It now trades at a discount to the other Canadian banks and feels it is the time to buy this one.
Bank of Nova Scotia (BNS-T)
September 4, 2019
She likes the Canadian banks and that the economy is slowing. Today's bank valuations are reflecting that. BNS-T is selling off some non-core assets. It now trades at a discount to the other Canadian banks and feels it is the time to buy this one.
Christine Poole
CEO & Managing Director, GlobeInvest Capital Management
Price
$71.020
Owned
Yes
PAST TOP PICK
PAST TOP PICK
September 4, 2019
(A Top Pick Sep 13/18, Down 1%) They're now focussing on Latin America (i.e. Chile, Peru), a good strategy. The whole sector has been flat this year, but Canadian banks enjoy an oligopoly, and consistently pay a 4-6% yield by paying half their earnings.
Bank of Nova Scotia (BNS-T)
September 4, 2019
(A Top Pick Sep 13/18, Down 1%) They're now focussing on Latin America (i.e. Chile, Peru), a good strategy. The whole sector has been flat this year, but Canadian banks enjoy an oligopoly, and consistently pay a 4-6% yield by paying half their earnings.
Brian Madden
Senior VP & Portfolio Manager, Goodreid Investment Council
Price
$71.020
Owned
Yes
HOLD
HOLD
August 27, 2019
A definite hold. They reported earnings and it was good news -- including an increase in the dividend. It trades at 10 times next year's earnings. Now is not the time to sell. He is not as worried about the potential sell off in the Canadian banking sector due to increased credit exposures -- he believes this is already factored into the current share prices. The Canadian housing sector is far less vulnerable than the US banking sector.
A definite hold. They reported earnings and it was good news -- including an increase in the dividend. It trades at 10 times next year's earnings. Now is not the time to sell. He is not as worried about the potential sell off in the Canadian banking sector due to increased credit exposures -- he believes this is already factored into the current share prices. The Canadian housing sector is far less vulnerable than the US banking sector.
Don Lato
President, Padlock Investment Management
Price
$68.570
Owned
No
COMMENT
COMMENT
August 27, 2019

Today they announced they increased their dividend by 3 cents per quarter, paying a 5.25% yield which is high for a bank. Share buybacks are a better use of their cash, though. Nothing wrong with sitting on a bank stock and collecting the yield. BNS had a good quarter, but today's earning report was a low-quality beat. He prefers TD Bank for its US exposure.

Today they announced they increased their dividend by 3 cents per quarter, paying a 5.25% yield which is high for a bank. Share buybacks are a better use of their cash, though. Nothing wrong with sitting on a bank stock and collecting the yield. BNS had a good quarter, but today's earning report was a low-quality beat. He prefers TD Bank for its US exposure.

Andrew Pink
Portfolio Manager, LDIC
Price
$68.570
Owned
Unknown
HOLD
HOLD
August 26, 2019
The banks are going sideways with Canadian mortgage worries, but they are soundly run. He disagrees that the banks should be shorted and the downside fears are invalid. That said, he doesn't hold many banks. It's okay to hold this long-term. Not for trading. Expect little stock movement.
The banks are going sideways with Canadian mortgage worries, but they are soundly run. He disagrees that the banks should be shorted and the downside fears are invalid. That said, he doesn't hold many banks. It's okay to hold this long-term. Not for trading. Expect little stock movement.
Alex Ruus
Portfolio Manager, Arrow Capital Management
Price
$67.770
Owned
Unknown
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.
John O'Connell, CFA
Chairman and CEO, Davis Rea
Price
$67.930
Owned
No
DON'T BUY
DON'T BUY
August 19, 2019

He has no direct exposure to Canadian banks because he thinks they are risky relative to potential market weakness. He prefers ZWB-T. He thinks BNS-T will under-perform because of their Latin American performance.

He has no direct exposure to Canadian banks because he thinks they are risky relative to potential market weakness. He prefers ZWB-T. He thinks BNS-T will under-perform because of their Latin American performance.

Larry Berman CFA, CMT, CTA
Chief Investment Officer, Partner, ETF Capital Management Inc.
Price
$94.010
Owned
Unknown
BUY
BUY
August 15, 2019

TD-T vs. RY-T. TD-T is bigger than RY-T in the US. BNS-T is a bit cheaper. He is warming up to the sector in general.

TD-T vs. RY-T. TD-T is bigger than RY-T in the US. BNS-T is a bit cheaper. He is warming up to the sector in general.

Lorne Steinberg
President & Portfolio Manager, Lorne Steinberg Wealth Management Inc
Price
$67.410
Owned
Unknown
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