BNS.TO - The Bank of Nova Scotia

Toronto - Toronto Delayed Price. Currency in CAD
74.75
+0.28 (+0.38%)
At close: 4:44PM EDT
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Previous Close74.47
Open74.34
Bid74.74 x 0
Ask74.75 x 0
Day's Range74.23 - 75.01
52 Week Range66.36 - 78.25
Volume2,973,086
Avg. Volume2,202,854
Market Cap91.229B
Beta (3Y Monthly)0.97
PE Ratio (TTM)11.23
EPS (TTM)6.65
Earnings DateNov 26, 2019
Forward Dividend & Yield3.60 (4.83%)
Ex-Dividend Date2019-09-30
1y Target Est76.92
  • CNW Group

    Scotiabank's Group Head of Canadian Banking Dan Rees to Speak at CIBC's 18th Annual Eastern Institutional Investor Conference

    Scotiabank's Group Head of Canadian Banking Dan Rees to Speak at CIBC's 18th Annual Eastern Institutional Investor Conference

  • Have Insiders Been Buying The Bank of Nova Scotia (TSE:BNS) Shares?
    Simply Wall St.

    Have Insiders Been Buying The Bank of Nova Scotia (TSE:BNS) Shares?

    It is not uncommon to see companies perform well in the years after insiders buy shares. On the other hand, we'd be...

  • CNW Group

    Scotiabank takes a bold step forward with the newly refreshed Scotiabank Gold American Express® Card

    TORONTO , Sept. 10, 2019 /CNW/ - Scotiabank is further strengthening its market-leading suite of credit cards with a refresh of the Scotiabank Gold American Express® Card. The newly refreshed card offers the highest earn rate available in the market for Groceries, Dining and Entertainment**, introduces new accelerated earn categories, and showcases the flexibility of the Scotia Rewards® program. "We're extremely proud of the incredible value we're delivering to our customers through our newly refreshed Scotiabank Gold American Express Card," said Brett Mooney , Senior Vice President, Credit Cards & Unsecured Lending for Scotiabank.

  • CNW Group

    Women in Payments Announces 2019 Award Nominees

    TORONTO , Sept. 10, 2019 /CNW/ - Women in Payments will honour six inspiring people with awards for their leadership in the payments ecosystem at the eighth annual Women in Payments Canada Symposium on September 18 and 19, 2019. The Women in Payments Awards Dinner on September 18, 2019 , is presented by Scotiabank.  The Awards champion women in the Canadian payments industry at all stages of their careers, recognizing and honouring one woman in each of the award categories: Rising Star, Innovation, Thought Leader, Advocate for Women, Inspiration, and Distinguished Payments Professional.

  • CNW Group

    Scotiabank Announces Redemption of 3.036% Subordinated Debentures due 2024

    TORONTO , Sept. 9, 2019 /CNW/ - Scotiabank (BNS: TSX, NYSE) today announced its intention to redeem all outstanding 3.036% subordinated debentures due October 18, 2024 at 100% of their principal amount plus accrued interest to the redemption date. The redemption will occur on October 18 , 2019. Formal notice will be delivered to the debenture holders in accordance with the terms and conditions set forth in the related trust indenture. The redemption has been approved by the Office of the Superintendent of Financial Institutions and will be financed out of the general funds of Scotiabank.

  • Thomson Reuters StreetEvents

    Edited Transcript of BNS.TO earnings conference call or presentation 27-Aug-19 12:15pm GMT

    Q3 2019 Bank of Nova Scotia Earnings Call

  • Bank of Canada Balks at Joining the Global Rate-Cutting Trend
    Bloomberg

    Bank of Canada Balks at Joining the Global Rate-Cutting Trend

    (Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. The Bank of Canada resisted pressure from investors to signal it will soon follow global peers in easing monetary policy.At a decision Wednesday, policy makers left interest rates unchanged for a seventh straight meeting and surprised markets by asserting current levels of stimulus are still appropriate despite the escalating trade war between China and the U.S..The Bank of Canada’s reluctance to signal a greater willingness to cut rates has made the central bank an outlier as counterparts around the world ease policy. Investors and analysts had expected more dovish language, paving the way for some easing later this year. The Canadian dollar rose after the statement.“This is a bit more hawkish than we anticipated,” said Brett House, deputy chief economist at Bank of Nova Scotia.To be sure, the door is still open for increased stimulus given how much the central bank underlined trade risks. Policy makers also said Canadian growth is likely to slow in the second half of this year. Investors are anticipating the Bank of Canada will eventually be forced to join other central banks like the Federal Reserve in cutting rates, as soon as next month.‘Note Committing’But Wednesday’s statement suggests the central bank remains reluctant to show its hand on the matter, preferring instead to wait for more concrete signs of weakness before moving.“The Bank is not committing to anything,” Doug Porter, chief economist at Bank of Montreal, said in a note to investors.The Canadian dollar rose 0.8% to C$1.3237 per U.S. dollar at 12:14 p.m. Swaps trading suggests investors are fully pricing in a cut by December, with strong odds of a second reduction by this time next year. That’s still less than the four rate cuts priced by the Federal Reserve over that time.Canada’s benchmark S&P/TSX Composite Index pared an earlier gain to 0.5% after the statement, which the market saw as “largely one of disappointment,” according to Candice Bangsund, portfolio manager at Fiera Capital.The case for cheaper money isn’t as compelling in Canada as it is elsewhere. A strong run of economic data affords the Bank of Canada opportunity to resist -- as it has so far -- the dovish turn in global policy.Interest rates also remain stimulative in real terms, even with the Bank of Canada on hold, mortgage rates have already fallen sharply in recent months because of the decline in global bond yields. In other words, there is plenty of stimulus in the system that the Bank of Canada already needs to keep in mind -- a development the Bank of Canada cited in its statement.“In sum, Canada’s economy is operating close to potential and inflation is on target. However, escalating trade conflicts and related uncertainty are taking a toll on the global and Canadian economies,” the central bank said in its statement. “In this context, the current degree of monetary policy stimulus remains appropriate.”Global OutlookBut escalating tensions between China and the U.S. are hard to overlook. The trade war is impacting global economic momentum more than it had projected in July, and driving lower commodity prices, the Bank of Canada said. So, officials will need to pay close attention to “global developments and their impacts on the outlook for Canadian growth and inflation.”Waiting too long is a risky strategy, however. It could backfire if policy makers are late to recognize spillover effects on businesses and households, particularly since the country’s outlier status on policy could potentially fuel gains in the Canadian dollar.“The Bank of Canada is stalling but it will eventually be peer-pressured into interest-rate cuts,” Frances Donald, chief economist at Manulife Investment Management Ltd., told BNN Bloomberg.(Updates with market reaction, comment in 9th paragraph.)\--With assistance from Erik Hertzberg and Divya Balji.To contact the reporter on this story: Theophilos Argitis in Ottawa at targitis@bloomberg.netTo contact the editors responsible for this story: Theophilos Argitis at targitis@bloomberg.net, Chris Fournier, Stephen WicaryFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • CNW Group

    Scotiabank Stands with our Customers, Employees and Communities Affected by Hurricane Dorian

    TORONTO , Sept. 4, 2019 /CNW/ - Scotiabank is donating $100,000 USD to the Red Cross in support of the rescue and relief efforts taking place in response to Hurricane Dorian's devastation.  Our thoughts continue to be with the people of the affected regions as they demonstrate strength and resilience during and following the hurricane's impact. The scale of the devastation caused by Hurricane Dorian is deeply troubling," says Brian Porter , Scotiabank's President and CEO.

  • CNW Group

    Raj Viswanathan to Speak at Barclays 17th Annual Global Financial Services Conference

    Raj Viswanathan to Speak at Barclays 17th Annual Global Financial Services Conference

  • 12 Canadian authors named to the 2019 Scotiabank Giller Prize longlist
    CNW Group

    12 Canadian authors named to the 2019 Scotiabank Giller Prize longlist

    ST. JOHN'S , Sept. 3, 2019 /CNW/ - The Scotiabank Giller Prize's annual celebration of Canadian literary talent began today with the announcement of this year's longlist. Now in its 26th year, the Scotiabank Giller Prize is focused on highlighting the very best of Canadian fiction. This year, 117 works of literature were submitted for consideration, with the longlist narrowed down to 12.

  • CNW Group

    Raj Viswanathan to Speak at Scotiabank Global Banking and Markets' 20th Annual Financials Summit

    Raj Viswanathan to Speak at Scotiabank Global Banking and Markets' 20th Annual Financials Summit

  • Benzinga

    BMO Reviews Scotiabank's Q3

    Canada-based Bank of Nova Scotia (TSE:BNS) reported fiscal third-quarter results , which were lifted by better-than-expected retail performance, according to BMO. The Analyst BMO Capital Markets analyst ...

  • The Bank of Nova Scotia (BNS) Q3 2019 Earnings Call Transcript
    Motley Fool

    The Bank of Nova Scotia (BNS) Q3 2019 Earnings Call Transcript

    BNS earnings call for the period ending July 31, 2019.

  • Benzinga

    Bank Of Nova Scotia Ticks Higher On Q3 Earnings Beat

    Bank of Nova Scotia (NYSE: BNS ) reported third-quarter earnings of $1.42 per share, which beat the analyst consensus estimate of $1.34 by 6.64%. This is a 5.07% increase over earnings of $1.36 per share ...

  • Scotiabank Latam Push Outpaces Bank of Montreal U.S. Efforts
    Bloomberg

    Scotiabank Latam Push Outpaces Bank of Montreal U.S. Efforts

    (Bloomberg) -- Bank of Nova Scotia’s focus on Latin America proved a better bet than Bank of Montreal’s U.S. push in the fiscal third quarter.Scotiabank’s earnings topped analysts’ estimates on a surge in profit in its international-banking division, fueled by a sharpened focus on Latin America, and lower provisions for loan losses. Bank of Montreal, meanwhile, fell short of expectations amid greater set-asides for bad loans and more muted growth at its U.S. personal-and-commercial banking division.“Scotia’s beat against expectations was almost the polar opposite of BMO’s this morning: better-than-expected provisions, largely reflecting reversals of previous provisions on performing loans,” Barclays Plc analyst John Aiken said Tuesday in a note to clients. “The largest beneficiary is the international segment.”Scotiabank shares gained 0.9% to C$68.39 at 12:18 p.m. in Toronto, while Bank of Montreal plunged 4.1% to C$88.59, its steepest intraday decline since February 2016. Scotiabank is up 0.5% this year, compared with Bank of Montreal’s 0.7% decline and the 3% gain for Canada’s eight-company S&P/TSX Commercial Banks Index.At Scotiabank, the international-banking division earned C$902 million ($682 million), up 90% from a year ago, when results were pared by acquisition costs. Adjusted profit in the division was up 20%, the biggest gain among the Toronto-based lender’s three main segments. Chief Executive Officer Brian Porter has been focusing on the stable Latin American markets of Mexico, Chile, Colombia and Peru, with a recent acquisition in Chile helping drive growth as the bank retreated from other areas.At smaller competitor Bank of Montreal, which has focused on the U.S. for greater growth under CEO Darryl White, the earnings increase at its U.S. personal-and-commercial unit, which includes Chicago-based BMO Harris Bank, cooled to 1.1%. That was the smallest expansion since the fourth quarter of fiscal 2017 and was due to higher loan losses and declining net interest margins. Still, profit from the Toronto-based bank’s overall U.S. operations, which include capital markets and wealth management in the country, was up 17% from a year ago.‘Strong Level’“Our growth in U.S. personal and commercial has really been very, very good over the last few years, and well in excess of peers,” Chief Financial Officer Tom Flynn said in an interview. “We’ve talked about expecting some moderation from the very strong level of growth we’ve had as a reasonable thing to expect, and we’re confident in our ability to continue to outperform peers.”Bank of Montreal expects to do better than its peers in the U.S. even amid an economic backdrop hampered by trade uncertainties, an issue White flagged during a conference call with analysts.“It’s hard to ignore the fact that the trade tensions are creating, first of all, volatility in the markets, as you know well, but also some suppression of growth,” White said. “Our customer base in Canada and the U.S. continues to spend and continues to expand, I would say, a little bit more prudently than perhaps they might have six or 12 months ago.”Scotiabank had adjusted earnings of C$1.88 a share for the three months through July 31, topping analysts’ average estimate of C$1.85, while Bank of Montreal’s adjusted earnings of C$2.38 fell short of the C$2.49 estimate. The miss was driven by higher loan-loss provisions as Canadian consumer losses rose with the migration to a new collections platform, the bank recorded a single large loss from an impaired Canadian commercial loan in the health-care sector and set-asides for performing loans were increased.Loan Losses“Our loan losses were up in the quarter and they were up from low levels in the last two quarters,” Flynn said, adding that that the prior quarters benefited from recoveries. “We do expect the loan losses to be down from the current level that we had in the third quarter as we look out to the fourth quarter.”Bank of Montreal also said Tuesday that it’s winding down its property and casualty reinsurance operations.“In light of the environment in the reinsurance sector, performance is no longer meeting our risk-return expectations and so we’ve made the strategic decision to exit the majority of this business,” White said on his company’s call.(Updates with analyst, executive comments starting in third paragraph.)To contact the reporter on this story: Doug Alexander in Toronto at dalexander3@bloomberg.netTo contact the editors responsible for this story: David Scanlan at dscanlan@bloomberg.net, ;Michael J. Moore at mmoore55@bloomberg.net, Daniel Taub, Josh FriedmanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Scotiabank's international strength buffers it from provisions that hit rival BMO
    Reuters

    Scotiabank's international strength buffers it from provisions that hit rival BMO

    Scotiabank's shares rose 1.7% to C$68.90 in morning trading in Toronto, while BMO dropped 3.3% to C$89.33, its lowest since Jan. 7. Banks in Canada are seeing increased credit provisions on elevated household debt-to-income ratios and struggles in the oil and gas sector, while margins and capital markets businesses face pressure from a global economic slowdown and trade uncertainties. BMO reported a 64.5% jump in loan-loss provisions of during the quarter from a year ago.

  • Reuters

    WRAPUP 2-Scotiabank's international strength buffers it from provisions that hit rival BMO

    Canadian lender Bank of Nova Scotia beat estimates for quarterly profit on Tuesday, as strength in its international division buffered the bank from higher credit provisions, a factor that led rival Bank of Montreal to disappoint. Scotiabank's shares rose 1.7% to C$68.90 in morning trading in Toronto, while BMO dropped 3.3% to C$89.33, its lowest since Jan. 7. Banks in Canada are seeing increased credit provisions on elevated household debt-to-income ratios and struggles in the oil and gas sector, while margins and capital markets businesses face pressure from a global economic slowdown and trade uncertainties.

  • Bloomberg

    Scotiabank’s Overseas Earnings Growth Helps Lender Top Estimates

    (Bloomberg) -- Bank of Nova Scotia is benefiting from its sharpened focus on Latin America.Scotiabank has announced exits from 20 countries and redeployed about C$7 billion of capital in the past four years to focus on key areas such as Mexico, Peru, Chile and Colombia, bringing its international presence down to 34 countries. Still, Scotiabank’s international banking division earned C$902 million ($681 million), up 90% from a year ago to mark the biggest profit gain among the lender’s three main segments. That helped the company beat analysts’ estimates.Key InsightsWhile Scotiabank is Canada’s most international bank, most of its profit still comes from domestic banking. That continued in the quarter, with earnings from Canadian banking rising 2.7% to C$1.16 billion.At Scotiabank’s Global Banking and Markets unit, revenue had declined from a year earlier for the past eight quarters and profit had grown in only two of the periods, prompting National Bank Financial analyst Gabriel Dechaine this month to call the company’s smallest division the “biggest source of disappointment in recent years.” That trend continued as the unit posted earnings of C$374 million, down 15% from a year ago as revenue fell in the fiscal third quarter.Scotiabank latest move in its international retreat was its June agreement to sell its Puerto Rican operations to OFG Bancorp’s Oriental Bank. The announced sale resulted in a C$402 million after-tax loss in the third quarter, compared with its C$400 million guidance in June.Market ReactionScotiabank is down 0.4% this year through Monday, making it the second-worst performer among Canada’s large lenders and underperforming Canada’s eight-company S&P/TSX Commercial Banks Index, which has gained 3.7%.Get MoreNet income for the three months through July 31 rose 2.3% to C$1.98 billion, or C$1.50 a share, from C$1.94 billion, or C$1.55, a year earlier. Adjusted earnings totaled C$1.88 a share, beating the C$1.85 estimate of 14 analysts in a Bloomberg survey.Scotiabank increased its quarterly dividend by 3.4% to 90 Canadian cents.Read more about Scotiabank’s quarterly results here.To contact the reporter on this story: Doug Alexander in Toronto at dalexander3@bloomberg.netTo contact the editors responsible for this story: Michael J. Moore at mmoore55@bloomberg.net, ;David Scanlan at dscanlan@bloomberg.net, Daniel Taub, Steve DicksonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • CNW Group

    Scotiabank Announces Dividend on Outstanding Shares

    Scotiabank Announces Dividend on Outstanding Shares

  • CNW Group

    Scotiabank reports third quarter results

    Scotiabank reports third quarter results

  • Gold Erases Gains as Trump Ratchets Down China Trade-War Tension
    Bloomberg

    Gold Erases Gains as Trump Ratchets Down China Trade-War Tension

    (Bloomberg) -- Gold erased gains after U.S. President Donald Trump said China wants to make a deal on trade, easing demand for the metal as a haven.Bullion futures for December delivery settled little changed at $1,537.20 an ounce at 1:30 p.m. on the Comex in New York, after surging as much as 1.8% to the highest since April 2013. The metal jumped Friday and global stocks plunged as the world’s two biggest economies levied tit-for-tat tariff increases.Markets reversed later Monday after Trump said China “very badly” wants to resolve trade negotiations and the French and U.S. leaders made optimistic remarks about developments with the Asian nation. Top Chinese negotiator Liu He earlier called for calm talks and urged dialogue, while a top state-media editor in Beijing questioned Trump’s version of events.Gold has surged this year as the trade fight hurts the economic outlook, boosting odds of more U.S. rate cuts from the Federal Reserve. Low rates are a boon to gold, which doesn’t offer interest.“The price action in gold last night was pretty indicative of just the renewed fear -- the renewed macro fear and the renewed uncertainty -- in the market,” Nicky Shiels, an analyst at Bank of Nova Scotia, said by phone Monday. With more tariffs “than any time before” currently in place or being put in place, “we would expect some sort of Fed easing in response to that, or accelerative Fed easing, should continue to support gold’s case.”Gold will extend gains as the U.S.-China standoff harms growth, risking a deeper slowdown and inviting more central-bank easing, according to UBS Group AG, which jacked up price forecasts with a prediction the precious metal may hit $1,600 within three months.“Gold has demonstrated its safe-haven qualities and we stay long,” Giovanni Staunovo and Wayne Gordon, analysts at UBS’s wealth-management unit, said in a report before Trump’s latest remarks.As gold’s rally has gathered pace, investors have pushed into bullion-backed exchange-traded funds, which have reached the highest since 2013. Holdings are set for a third monthly gain, according to data compiled by Bloomberg.\--With assistance from Martin Ritchie, Ranjeetha Pakiam and Jake Lloyd-Smith.To contact the reporters on this story: Felix Njini in Johannesburg at fnjini@bloomberg.net;Justina Vasquez in New York at jvasquez57@bloomberg.netTo contact the editors responsible for this story: Phoebe Sedgman at psedgman2@bloomberg.net, Joe Richter, Steven FrankFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Benzinga

    Bank Of Nova Scotia's Earnings Preview

    On Tuesday, August 27, Bank of Nova Scotia (NYSE: BNS ) will release its latest earnings report. Benzinga's outlook for Bank of Nova Scotia is included in the following report. Earnings and Revenue Analysts ...