BNS.TO - The Bank of Nova Scotia

Toronto - Toronto Delayed Price. Currency in CAD
55.17
-2.18 (-3.80%)
At close: 4:00PM EDT
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Previous Close57.35
Open56.65
Bid54.99 x 0
Ask55.14 x 0
Day's Range54.86 - 56.68
52 Week Range46.38 - 76.75
Volume3,120,653
Avg. Volume5,755,015
Market Cap66.91B
Beta (5Y Monthly)0.87
PE Ratio (TTM)8.12
EPS (TTM)N/A
Earnings DateN/A
Forward Dividend & Yield3.60 (6.28%)
Ex-Dividend DateJul. 06, 2020
1y Target EstN/A
  • 3 Stocks to Buy With Dividend Yields of More Than 7%
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  • Better Canadian Bank to Buy After Q2: TD Bank (TSX:TD) or Scotiabank (TSX:BNS)?
    The Motley Fool

    Better Canadian Bank to Buy After Q2: TD Bank (TSX:TD) or Scotiabank (TSX:BNS)?

    TD Bank (TSX:TD)(NYSE:TD) just got clobbered post-earnings, making the Canadian bank a compelling bargain for long-term investors.The post Better Canadian Bank to Buy After Q2: TD Bank (TSX:TD) or Scotiabank (TSX:BNS)? appeared first on The Motley Fool Canada.

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    Revealed: My Top Canadian Bank Stock Pick for the Rest of 2020

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    Is it Time to Buy This Canadian Bank ETF?

    Several top Canadian banks have released their second quarter 2020 results in late May. There was considerable ...

  • Dividend Investors: Should You Buy BCE (TSX:BCE) or Bank of Nova Scotia (TSX:BNS) Stock?
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  • Why Bank of Nova Scotia (TSX:BNS) Stock Is Soaring 11%
    The Motley Fool

    Why Bank of Nova Scotia (TSX:BNS) Stock Is Soaring 11%

    6%-yielding Bank of Nova Scotia stock rallies, as this Canadian bank's second-quarter earnings result showcases its resiliency.The post Why Bank of Nova Scotia (TSX:BNS) Stock Is Soaring 11% appeared first on The Motley Fool Canada.

  • Why Scotiabank (TSX:BNS) Stock Surged After Earnings
    The Motley Fool

    Why Scotiabank (TSX:BNS) Stock Surged After Earnings

    Bank of Nova Scotia (TSX:BNS)(NYSE:BNS) released a brutal Q2 2020 earnings report on May 26, but shares of Scotiabank still surged.The post Why Scotiabank (TSX:BNS) Stock Surged After Earnings appeared first on The Motley Fool Canada.

  • Warning: Is This Your Last Chance to Buy Canadian Banks for Cheap?
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    Warning: Is This Your Last Chance to Buy Canadian Banks for Cheap?

    Scotiabank (TSX:BNS)(NYSE:BNS) and National Bank of Canada (TSX:NA) delivered better-than-feared results that could spark a massive Canadian bank rally.The post Warning: Is This Your Last Chance to Buy Canadian Banks for Cheap? appeared first on The Motley Fool Canada.

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  • The Canadian Press

    Most actively traded companies on the TSX

    TORONTO — Some of the most active companies traded Tuesday on the Toronto Stock Exchange:Toronto Stock Exchange (15,148.12, up 72.70 points.)HEXO Corp. (TSX:HEXO). Health care. Down 12 cents, or 11 per cent, to 97 cents on 16.8 million shares.Bombardier Inc. (TSX:BBD.B). Industrials. Up 1.5 cents, or 3.03 per cent, to 51 cents on 11.6 million shares.Suncor Energy Inc. (TSX:SU). Energy. Up 13 cents, or 0.54 per cent, to $24.33 on 11.1 million shares.Manulife Financial Corp. (TSX:MFC). Financials. Up $1.01, or 6.21 per cent, to $17.28 on 10.8 million shares.The Green Organic Dutchman Holdings. (TSX:TGOD). Health care. Down four cents, or 6.9 per cent, to 54 cents on 9.9 million shares.B2Gold Corp. (TSX:BTO). Materials. Down 53 cents, or 6.99 per cent, to $7.05 on 7.6 million shares.Companies in the news:Bank of Nova Scotia (TSX:BNS). Up $3.85, or 7.4 per cent, to $55.84. COVID-19 weighed down Bank of Nova Scotia's second quarter, causing its profit to plunge and the company to increase its reserves to cover bad loans. The Toronto-based bank reported Tuesday a profit of $1.32 billion for the period ended April 30, down sharply from a year ago. The bank's provisions for credit losses totalled nearly $1.85 billion for the quarter, more than doubling from $873 million a year earlier. On an adjusted basis, it earned $1.04 per diluted share in the quarter, up from 98 cents per share forecast by analysts and compared with $1.70 per diluted share a year ago.Roots Corp. (TSX:ROOT). Up 12 cents, or 12.6 per cent, to $1.07. Clothing retailer Roots Corp. has named Meghan Roach as its new chief executive. Roach, who has been interim chief executive since January, replaces Jim Gabel, who left the company after the board expressed a need for "renewed leadership." She joined Roots from Searchlight Capital Partners, the company's largest shareholder. Before becoming interim chief executive, Roach served as the interim chief financial officer at Roots. Roots says that given the circumstances created by the COVID-19 pandemic, Roach will forgo her salary and potential bonus payments for the remainder of 2020.National Bank of Canada (TSX:NA). Up $3.06, or 5.7 per cent, to $57.08. National Bank of Canada says its net income plunged nearly 33 per cent in its second quarter as it put aside $504 million in provisions for credit losses. The Montreal-based bank says its net income amounted to $379 million for the period ended April 30, compared to $558 million in the same quarter last year. The bank says its basic earnings per share reached $1.01 compared to $1.52 a year prior, while its diluted earnings per share stood at $1.01 in comparison to $1.51 at the same time last year. Analysts expected the bank would report diluted earnings per share of 94 cents, according to financial markets data firm Refinitiv.This report by The Canadian Press was first published May 26, 2020.The Canadian Press

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  • Bank of Nova Scotia (BNS) Q2 2020 Earnings Call Transcript
    Motley Fool

    Bank of Nova Scotia (BNS) Q2 2020 Earnings Call Transcript

    My name is Philip Smith, Senior Vice President of Investor Relations. Presenting to you this morning is Brian Porter, Scotiabank's President and Chief Executive Officer; Raj Viswanathan, our Chief Financial Officer; and Daniel Moore, our Chief Risk Officer.

  • 'This is not a garden-variety recession,' says Scotiabank CEO as Q2 profit falls
    The Canadian Press

    'This is not a garden-variety recession,' says Scotiabank CEO as Q2 profit falls

    TORONTO — COVID-19 weighed down Bank of Nova Scotia's second quarter, causing its profit to plunge and the company to increase its reserves to cover bad loans.The Toronto-based bank reported Tuesday a profit of $1.32 billion for the period ended April 30, down sharply from a year ago.The bank's provisions for credit losses totalled nearly $1.85 billion for the quarter, more than doubling from $873 million a year earlier."This is not a garden-variety recession...We've never been through this before," Scotiabank chief executive Brian Porter told analysts on a call on Tuesday morning."We're cautious here. This is not a one-quarter or two-quarter event. The banking sector will be picking up broken egg shells for a number of quarters here."Porter acknowledged that Scotiabank's results were significantly impacted by COVID-19, but reminded listeners that the bank and all its operating divisions continue to be profitable.He said the bank is well-positioned from a capital and liquidity perspective and appropriately reserved for credit losses.Scotiabank's profit for the quarter amounted to $1.00 per diluted share compared with a profit of nearly $2.26 billion or $1.73 per diluted share in the same quarter last year.On an adjusted basis, it earned $1.04 per diluted share in the quarter compared with $1.70 per diluted share a year ago.Analysts on average had expected Scotiabank to earn an adjusted profit of 98 cents per share for the quarter, according to financial markets data firm Refinitiv.The bank spent much of the quarter focused on offering loan and mortgage deferrals to customers struggling with the impacts of COVID-19 and its impact on the economy."I have often said the role of banking is to act as a shock absorber during times of crisis. That was true in previous times of difficulty and it is certainly true today," Porter said.Scotiabank offered about $100 billion in total loan support, which included financial relief for more than 300,000 customers in Canada on loans totalling over $40 billion.In the Pacific Alliance, the bank processed more than two million customer service applications on loans totalling $20 billion and to support small businesses and corporate clients, it provided additional loans over $45 billion.Demand for deferrals is starting to taper off, after peaking in Canada in the first week of April, Porter said. Meanwhile, the bank is seeing strong growth in its digital subsidiary Tangerine and online discount brokerage iTrade.Gabriel Dechaine, an analyst at National Bank Financial, said in a note to investors that the bank's performance was in line with his expectations, but he is keeping an eye on how the ratio of its loan book to payment deferrals compares to other banks."Longer term, we do not believe BNS or any other bank will rally on a sustained basis until there is light at the end of the credit cycle tunnel," he said, referring to the bank by its stock symbol.Barclays analyst John Aiken, who had expected COVID-19's impact on banks to be "ugly," said Scotiabank's earnings were better than expected because credit was better than expected.He suspected that the results will likely be rewarded, but warned that these are still the early stages of credit development."It is our view that ongoing heightened provisions are more likely in coming quarters," he said."Expectations will likely be that additional reserves will need to be taken in future quarters as the true impact of the pandemic will be felt." This report by The Canadian Press was first published May 26, 2020.Companies in this story: (TSX:BNS)Tara Deschamps, The Canadian Press

  • Will Scotiabank (TSX:BNS) Cut its Dividend?
    The Motley Fool

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  • Why Is Scotiabank (TSX:BNS) Stock Surging 5% Despite a Record Loss?
    The Motley Fool

    Why Is Scotiabank (TSX:BNS) Stock Surging 5% Despite a Record Loss?

    Scotiabank (TSX:BNS)(NYSE:BNS) stock surged because its reported earnings were higher than expected.The post Why Is Scotiabank (TSX:BNS) Stock Surging 5% Despite a Record Loss? appeared first on The Motley Fool Canada.

  • Bloomberg

    Scotiabank Earmarks $1.33 Billion for Bad Loans in Pandemic

    (Bloomberg) -- Bank of Nova Scotia’s quarterly earnings plunged 41% after the lender set aside a record amount for loan losses, giving investors their first indication of how the coronavirus pandemic will affect fiscal second-quarter results at Canadian banks.Scotiabank earmarked C$1.85 billion ($1.33 billion) for soured loans, less than analysts predicted. Canada’s six biggest banks are expected to set aside C$8.9 billion for loan losses in the three months through April 30, triple the first-quarter total. At Scotiabank, earnings beat analysts’ estimates even with the increase in provisions and charges tied to its shuttered metals-trading business.“Credit was largely better than expected,” Barclays Plc analyst John Aiken said in a note to clients Tuesday. Still, “the market was obviously expecting more reserves to be taken” and it’s likely “additional reserves will need to be taken in future quarters as the true impact of the pandemic will be felt.”The lender’s shares rose 4.3% to C$54.21 at 9:51 a.m. in Toronto. They’ve fallen 26% this year, compared with a 22% decline for Canada’s eight-company S&P/TSX Commercial Banks Index.Scotiabank is the first large Canadian lender to report second-quarter results. The country’s six biggest banks are expected to post a 44% profit decline in the quarter, the median of estimates compiled by Bloomberg Intelligence. That would be the biggest drop since 2009.Chief Executive Officer Brian Porter told analysts Tuesday that he expects economic declines in the bank’s core markets for the balance of the year, followed by a return to growth in 2021 on a “gradual abatement of the pandemic” and reopening of economies. Loan losses will remain elevated for the rest of the year, with the third quarter resembling the second, though he expects all main businesses to remain profitable, he said.‘Broken Eggshells’“Parts of the economy will snap back pretty quickly -- the pent-up demand, the impact of the relief programs the government has provided will have its intended impact, but we’ve never been through this before,” Porter said. “This is not a one-quarter or two-quarter event. The banking sector will be picking up broken eggshells for a number of quarters here.”Despite the surge in provisions, loans aren’t showing signs of deteriorating. Net impaired loans accounted for 0.53% of overall customer loans, down from 0.61% a year earlier, and net write-offs as a percentage of average loans totaled 0.47%, less than 0.5% a year ago.Scotiabank’s international banking business had the steepest profit decline in the quarter, falling 74% on higher provisions and lower contributions after selling some of its overseas operations as it sharpened its focus in Latin America and the Caribbean. Earnings from Canadian banking plunged 42% as provisions rose, while the bank’s global wealth management and capital markets divisions posted higher income.Trading JumpsThe Toronto-based company had a 56% jump in trading revenue in the quarter, fueled by fixed-income, echoing the trend seen by Wall Street trading desks last month when they reported their best three-month period in eight years thanks to surging client activity during the most volatile period on record. That, along with higher investment-banking fees, helped boost earnings in Scotiabank’s capital-markets division by 25% to C$523 million.Scotiabank also said it set aside C$232 million this year for U.S. regulatory probes into the bank’s metals-trading practices and costs tied to the wind-down of that business.Net income for the three months ended April 30 fell to C$1.32 billion, or C$1 a share, from C$2.26 billion, or C$1.73, a year earlier. Adjusted earnings totaled C$1.04 a share, beating the 96-cent average estimate of 13 analysts in a Bloomberg survey.(Updates with shares, CEO comments starting in fourth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Bloomberg

    Scotiabank Takes $168 Million Hit as It Shuts Historic Gold Unit

    (Bloomberg) -- Bank of Nova Scotia has set aside C$232 million ($168 million) to cover the cost of winding down its historic precious-metals unit as well as a potential settlement of U.S. investigations into the unit’s trading activities.The charges this year, which the bank disclosed in its quarterly earnings report on Tuesday, mark an ignominious end to what was once one of the world’s top gold-trading businesses, with a history dating back to the 17th century.Scotiabank announced it was closing down its metals business last month. The bank had already significantly reduced its activity in bullion markets, where it was once a leading player alongside banks such as JPMorgan Chase & Co. and HSBC Holdings Plc. Last year it dropped the “Mocatta” name, a fixture of the gold market ever since Moses Mocatta opened an account to trade precious metals in 1671.The bank has been caught up in regulatory scrutiny of banks’ precious-metals trading and one of its former traders last year pleaded guilty to trying to manipulate prices through spoofing.Scotiabank, which had previously disclosed that it was being investigated, on Tuesday said it was “engaging in settlement discussions with the applicable authorities” in relation to probes from the Commodity Futures Trading Commission and the U.S. Department of Justice into its activities in the metals markets.The C$232 million that Scotiabank set aside in the fiscal year to date was related to both the investigations and the “costs related to the wind-down of the metals business,” the bank said.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

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  • Analysts Estimate Bank of Nova Scotia (BNS) to Report a Decline in Earnings: What to Look Out for
    Zacks

    Analysts Estimate Bank of Nova Scotia (BNS) to Report a Decline in Earnings: What to Look Out for

    Bank of Nova Scotia (BNS) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

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    The Motley Fool

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