Bank of Nova Scotia (BNS.TO) Buy, Sell or Hold

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Bank of Nova Scotia (BNS.TO)

123.48

+0.45 (0.37%)

as of Jun 19, 2026, 8:00:01 pm Market Open.

1426 watching

DON'T BUY

BNS vs. TRP

Two completely different sectors. First questions are what's already in your portfolio and at what weighting? Similar dividend yields and similarly disappointing to investors in 2022. BNS has had poor performance for quite some time, and now a leadership change. TRP has a good, strong management team, but cost overruns. At these levels, he prefers TRP -- underlying business doing quite well, core fundamentals extremely strong, project issues will get solved though investors may have to wait a bit.

PAST TOP PICK

(A Top Pick Nov 30/22, Up 5%)

Strong brand name, high quality. Diversified. 50% of revenue is from Canada. 45% of revenue is from Latin America, a key differentiating factor which has been hurting, putting pressure on share price. Yield is 6%.

BUY

Not expensive, great dividend, oligopoly. Difficulties with housing market plus slowing economy are pushing them to over-reserve. International business sometimes gives BNS a higher multiple, but sometimes a lower one in times of slower economic growth. Great business that should continue to do well.

DON'T BUY

Canadian banks are in a tough space right now, with slowing economy and housing. That will affect BNS more. New CEO starts in February, and questions remain on this.

BUY

He owns the top five Canadian banks. Bank of Nova Scotia is the laggard by far so the yield is in the 6% range. There is a new CEO so the question is can he get the bank back on track. It has exposure to Latin America and therefore emerging markets. He is buying for clients.

PAST TOP PICK

(A Top Pick Jan 11/22, Down 21%) Has since sold shares. Better options for investors in the market. CEO transition not favorable. Risky operations in geographic areas. 6% dividend yield a "show me" story.

BUY

Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research. Better than expected quarter reported. Loss provisions declined. Trading back in line with peers. Unlock Premium - Try 5i Free

BUY ON WEAKNESS

Stable banking stock. Company currently lagging in financial performance relative to peers. New CEO will hopefully enact changes. Strong dividend yield at ~6%. TD Bank or Royal Bank are better investments.

DON'T BUY

You can buy it now, but only with a long timeline. A new CEO needs time to transition. A lot of work to do. Prefers Royal and TD. BNS's dividend is high yet safe. Historically, Canadian banks do well. Last year, BNS underperformed peers.

DON'T BUY

Results were horrible. Stick with the ones that continue to knock it out of the park -- TD, RY, and NA. He owns these 3, and is happy to continue buying. Not going to benefit from rising interest rates at all, because they hedged thinking rates would go lower.

HOLD

Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research. Better than expected quarter reported. Earnings improved for a 2nd consecutive qtr. Loss provisions declined. Trading back in line with peers.

PAST TOP PICK

(A Top Pick Dec 14/21, Down 20%) Recently buying shares as market selloff creating buying opportunity. Expecting more growth going forward. Balance sheet not in a great spot, and will be hurt by rising interest rates. Dividend yield at 6%. Will continue to hold shares.

DON'T BUY

Fairly unorthodox leadership change. Could be a bumpy transition. Failed strategy. Promise of faster, secular growth that accompanies a largely unbanked population should have brought higher returns, but it hasn't. It has brought higher risk. Respectable total returns, but not best in class.

BUY

Out of favour, dirt cheap at 8x earnings. Dividend almost 6%. Better total return, getting paid to wait, some upside on the earnings.

PAST TOP PICK

(A Top Pick Feb 01/22, Down 23%) It has under-performed the other banks. There is some concern over the international part of the business and large exposure to South America. Its sensitivity to changing interest rates is a little slow compared to others. Also there have been significant changes in management including the CEO who is from Finning, although he has been a director of BNS for a period of time. It is an excellent buy at these levels and has a 6% yield so wait for a recovery.

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