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Investor Insights

This summary was created by AI, based on 61 opinions in the last 12 months.

Overall, the experts have mixed opinions on the Bank of Nova Scotia. Some see it as an excellent long-term investment with a stable balance sheet and reliable earnings, while others have concerns about its international operations and recent underperformance. The new CEO and strategic changes are seen as positive steps, but there is still uncertainty around the company's direction. The stock has a high dividend yield, but there are questions about its valuation and potential for growth.

Consensus
Mixed
Valuation
Fair Value
COMMENT
Bank of Nova Scotia

It is in a transition stage and is backing away from international markets and focusing more on North America: Canada, the U.S. and Mexico. This could be challenging since other banks are already there. He owns some of the other banks.

banks
BUY
Bank of Nova Scotia

Owns shares in portfolio - excellent company with attractive entry point. Stable balance sheet with reliable earnings. Good for long term investors, even if economy enters recession. 

banks
WATCH
Bank of Nova Scotia

Business improving - business in transition. Does not own shares, but looking closely. Currently is a "show me" story. Better names in the banking sector available for investors. New strategy appears to be good, but time will tell. New CEO making bold changes which is good to see. Returns for emerging markets business lines have not proven to be worthwhile. 

banks
TOP PICK
Bank of Nova Scotia

Lots to like in the results. Softness in Latin markets created buying opportunity. New focus on Canada, Mexico, wealth management. Earnings impressively beat in both Canadian and international banking. Oligopolistic nature of Canadian banking has lead to outperformance over US banks over time. Yield is 6.5%.

(Analysts’ price target is $65.48)
banks
DON'T BUY
Bank of Nova Scotia

Not overly excited about the Canadian banks for some time. Trying to base. Short-term potential, but not long term. Resistance around $65, now close to that. Don't buy. See his Past Picks.

banks
BUY
Bank of Nova Scotia

Feels the caller's pain. In 2008-09, massive outlier because its business mix was so different than most NA banks. Since then, it just hasn't been rewarded. EM footprint has become a liability. Lot of positives in ongoing changes. Going to get more efficient. Disappointed, but too cheap to toss out. Valuation discount. Reasonable earnings growth. Good buy here.

banks
PAST TOP PICK
Bank of Nova Scotia
(A Top Pick Nov 14/22, Down 0.7%)

He underestimated the amount of structural change at the bank, reducing its international exposure to focus on North America. He owns other banks and is winding down his BNS position.

banks
COMMENT
Bank of Nova Scotia

The question was on his preference for the two banks. Both have international operations with BMO focused more in the U.S. and BNS more in Latin America. He prefers BMO. Now is not the time to buy BNS but watch it over the next four quarters,

banks
DON'T BUY
Bank of Nova Scotia

Hasn't bottomed. First support is $55; if that doesn't hold, then $45. Internal operational issues. Financials have strong seasonality from January-March, but not this year. A ways from finding a bottom. If you need a bank, buy RY.

banks
HOLD
Bank of Nova Scotia

Good news here is that it's done such a poor job operationally, it's at a discount to peers. Upside in terms of a turnaround story. He owns at a low weighting. Hold, wait and see for the next quarters.

banks
BUY
Bank of Nova Scotia

A major holding. The big question is what differences in strategy direction the new leadership will make? Maintain their large exposure to Latin America? They pay a bigger dividend at 6.7% than event CIBC and trades at a bigger discount in price-to-book. Dividend increases are possible.

banks
BUY
Bank of Nova Scotia
Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research

2023 was a choppy year for financials, across both the US and Canadian markets. All of the Canadian banks showed relatively weak performances in 2023 compared to the broader markets. BNS has had its issues with low growth in the Latin America regions, however, with its new strategic focus, we expect growth can pick up. BNS offers a higher yield than other Canadian bank names, and for investors seeking yield, this can be an important consideration. Its diversification in Latin America was also a benefit for the name, as it differentiated itself from other banks. 

We expect a few things to happen this year that can benefit financial stocks. Downward pressure on rates and yields can improve investor sentiment around the bank stocks, as well as the fundamentals of the banks. Large provisions for credit losses were booked in the most recent quarter for most Canadian banks, and if the economic outlook for 2024 is better than expected, we can see these provisions be reversed in 2024, leading to higher profits. This also took place following 2020. Economic expansion and an improved business sentiment should help bank stocks, and we feel this can happen in 2024. As bond yields fall, the attractiveness of high-yielding bank stocks increases, and this should help with multiple expansion. 

We continue to like BNS, as well as the other Canadian bank names, and feel that sentiment is nearing a low. These are names that can perform quite well in an economic recovery.
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banks
DON'T BUY
Bank of Nova Scotia

Can't learn much from what happens from day-to-day stock moves. Stock's gone nowhere in a very long time. Their acquisitions have not worked out, execution issues, got interest rate move in 2022 completely wrong. New management trying to right the ship. A show-me story. Not the highest quality bank. He prefers RY, TD, and NA. 

banks
DON'T BUY
Bank of Nova Scotia

Historically most international of the Canadian banks. Performance of international assets not as good. Company trying to focus more on Canadian/US markets. Better options out there for investor. 

banks
HOLD
Bank of Nova Scotia

Decided to refocus in Canada and increase deposit base. Getting out of areas where returns were substandard, won't happen overnight. Valuation reflects this. Be patient, will turn around. Yield of 6.7%, safe.

banks
Showing 1 to 15 of 1,605 entries

Bank of Nova Scotia(BNS-T) Rating

Ranking : 5 out of 5

Bullish - Buy Signals / Votes : 29

Neutral - Hold Signals / Votes : 7

Bearish - Sell Signals / Votes : 16

Total Signals / Votes : 52

Stockchase rating for Bank of Nova Scotia is calculated according to the stock experts' signals. A high score means experts mostly recommend to buy the stock while a low score means experts mostly recommend to sell the stock.

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, 52 stock analysts published opinions about BNS-T. 29 analysts recommended to BUY the stock. 16 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?

52 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 2024-03-18, Bank of Nova Scotia (BNS-T) stock closed at a price of $67.28.