BNS - The Bank of Nova Scotia

NYSE - NYSE Delayed Price. Currency in USD
54.42
+0.01 (+0.02%)
At close: 4:02PM EST
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Previous Close54.41
Open54.63
Bid53.40 x 900
Ask0.00 x 1800
Day's Range54.31 - 55.20
52 Week Range50.36 - 58.22
Volume1,057,290
Avg. Volume750,604
Market Cap66.341B
Beta (5Y Monthly)1.16
PE Ratio (TTM)10.62
EPS (TTM)5.12
Earnings DateFeb 05, 2017 - Feb 09, 2017
Forward Dividend & Yield2.73 (5.03%)
Ex-Dividend DateJan 05, 2020
1y Target Est72.27
  • Reuters

    CANADA STOCKS-Toronto stocks inch lower as coronavirus fears persist

    Canada's main stock index slightly extended declines on Tuesday, a day after it recorded its worst session in six months on widespread concerns over the coronavirus outbreak. * At 9:51 a.m. ET (14:51 GMT), the Toronto Stock Exchange's S&P/TSX composite index was down 48.58 points, or 0.28%, at 17,514.16. * The index had fallen in tandem with global stocks after the coronavirus outbreak spread to countries outside China, triggering fears of a pandemic.

  • Reuters

    WRAPUP 2-Scotiabank, Bank of Montreal capital markets strength drives earnings beats

    Bank of Montreal and Bank of Nova Scotia, two of Canada’s biggest banks, posted better-than-expected first-quarter profits on Tuesday driven by trading and advisory earnings, but some international challenges weighed on shares. Scotiabank shares dropped 0.7% to C$72.61, in line with the benchmark Toronto stock index. "As we look forward, we do think credit losses will decrease over the balance of the year," BMO's Chief Financial Officer Tom Flynn said in an interview.

  • Scotiabank, Bank of Montreal Earnings Lifted by Market Surge
    Bloomberg

    Scotiabank, Bank of Montreal Earnings Lifted by Market Surge

    (Bloomberg) -- Improving markets gave Bank of Nova Scotia and Bank of Montreal a first-quarter profit boost, with the two Canadian financial giants reporting higher earnings in capital markets and wealth management.Scotiabank’s capital-markets division posted a turnaround quarter, while earnings from global wealth management climbed as well. They were the Toronto-based company’s best-performing units in the three months through Jan. 31. Bank of Montreal benefited as well, with a 39% surge in BMO Capital Markets earnings, helping counter a profit decline at the lender’s U.S. retail-banking unit.The two companies join Royal Bank of Canada in posting first-quarter results Tuesday that topped analysts’ estimates, with improving markets and a better dealmaking environment bolstering market-sensitive businesses. Each of the three banks posted gains in trading revenue, echoing the advances at U.S. investment banks last quarter, while fees from underwriting and advisory surged.Earnings at Scotiabank’s global banking and markets unit rose from a year earlier -- only the second quarter of profit growth in more than two years -- helped by higher revenue from fixed-income and equities trading and a 78% jump in investment-banking fees. Wealth-management earnings, reported separately for the first time, climbed 12% from a year earlier.Those improvements helped offset declining profit from Scotiabank’s international-banking division, which was impacted by divestitures and higher provisions, and lower Canadian banking earnings.Scotiabank shares fell 0.3% to $72.96 at 9:38 a.m. in Toronto, and are down 0.5% this year, compared with a 1.7% increase for the S&P/TSX Commercial Banks Index.‘Would Be Messy’“We knew going in that with pre-announced charges, gains and the earnings drag from the sale of its stake in a Thai bank that the quarter would be messy,” CIBC analysts Robert Sedran and Christopher Bailey said in a note to clients. “The bank did not disappoint on that front, but nor did it disappoint on adjusted earnings as the surge in trading revenues we have seen elsewhere this quarter showed up for this bank as well and helped offset that earnings drag.”Bank of Montreal’s capital-markets division surged 39% to C$356 million ($268 million), with a 17% jump in underwriting and advisory fees and trading revenue that was lifted by fixed-income products. That helped counter an earnings decline at the Toronto-based lender’s U.S. retail-banking division, which was hurt by higher loan-loss provisions.The company’s shares fell 1.1% to $98.37. Also in Scotiabank’s results:The lender has exited more than 20 countries in the past six years, scaling back in the Caribbean and Asia to focus on the Americas, with an emphasis on Mexico, Peru, Chile and Colombia. The international-banking division had C$582 million of profit, down 30% from a year earlier. “As we continue to see improvement in the outlook for both Mexico and Chile, we expect international banking to have stronger results for the balance of the year,” Chief Executive Officer Brian Porter said on the company’s earnings call.Scotiabank told investors in January that it aims to get 40% of its earnings from Canadian banking. The domestic-banking division reported profit of C$852 million in the first quarter, down 1% from a year ago and accounting for 37% of total earnings.Also in Bank of Montreal’s results:Earnings at the company’s U.S. banking division, which includes Chicago-based BMO Harris Bank, fell 21% to C$351 million, after the bank set aside C$149 million for soured U.S. loans in the quarter. That’s more than double the amount in the fourth quarter and up from C$6 million a year ago.Interest-rate reductions by the Federal Reserve last year pushed down the net interest margin at the U.S. banking division to 3.34%, its lowest level in a decade.(Updates with share prices in seventh paragraph.)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, ;Derek Decloet at ddecloet@bloomberg.net, Daniel Taub, Steven CrabillFor 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.

  • Bank of Nova Scotia (BNS) Tops Q1 Earnings Estimates
    Zacks

    Bank of Nova Scotia (BNS) Tops Q1 Earnings Estimates

    Bank of Nova Scotia (BNS) delivered earnings and revenue surprises of 2.99% and -1.48%, respectively, for the quarter ended January 2020. Do the numbers hold clues to what lies ahead for the stock?

  • Scotiabank Beats Estimates in Revival of Capital-Markets Unit
    Bloomberg

    Scotiabank Beats Estimates in Revival of Capital-Markets Unit

    (Bloomberg) -- Bank of Nova Scotia’s capital-markets division is showing signs of a turnaround.The unit had long been the weakest link for the Toronto-based lender, with growth in quarterly profit only once in the past two years. The division appears to have turned a corner in the fiscal first quarter, reporting an 11% increase in income, helping the bank post results that beat analysts’ estimates.Key InsightsScotiabank’s global banking and markets division benefited from rising equities and fixed income and more deal activity compared with a year earlier. Earnings for the division totaled C$372 million ($280 million), up from C$335 million.The company started reporting global wealth management as a separate division, and business head Glen Gowland wants it to eventually generate 15% of overall bank earnings. Wealth-management earnings rose 12% to C$309 million, to account for 13% of overall earnings.Scotiabank has exited more than 20 countries in the past six years, scaling back in the Caribbean and Asia to focus on the Americas, with an emphasis on Mexico, Peru, Chile and Colombia. The international-banking division earned C$582 million, down 30% from C$828 million a year earlier.The lender told investors in January that it aims to get 40% of its earnings from Canadian banking. The domestic-banking division had earnings of C$852 million in the first quarter, down 1% from a year ago.Market ReactionScotiabank has fallen 0.3% this year through Monday, underperforming the 2.2% gain for Canada’s eight-company S&P/TSX Commercial Banks Index.Get MoreNet income for the three months through Jan. 31 rose 3.5% to C$2.33 billion, or C$1.84 a share, after a gain from its Thanachart Bank sale, charges tied to derivatives and discontinued software, and revisions to its allowance for credit losses.Adjusted earnings totaled C$1.83 a share, beating the C$1.75 estimate of 13 analysts in a Bloomberg survey.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, ;Derek Decloet at ddecloet@bloomberg.net, Daniel TaubFor 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.

  • CNW Group

    Scotiabank Announces Dividend on Outstanding Shares

    Scotiabank Announces Dividend on Outstanding Shares

  • CNW Group

    Scotiabank reports first quarter 2020 results

    Scotiabank reports first quarter 2020 results

  • ACCESSWIRE

    The Bank of Nova Scotia to Host Earnings Call

    NEW YORK, NY / ACCESSWIRE / February 25, 2020 / The Bank of Nova Scotia (NYSE:BNS) will be discussing their earnings results in their 2020 First Quarter Earnings call to be held on February 25, 2020 at ...

  • CNW Group

    Scotiabank empowers Canadians with simple, low-fee Scotia International Money Transfer

    TORONTO , Feb. 24, 2020 /CNW/ - Scotiabank announced today the launch of Scotia International Money Transfer, a new cost-effective digital solution that allows customers to send money internationally using mobile banking or Scotia OnLine. Scotia International Money Transfer meets a critical need for millions of Canadians who need a seamless way to send money abroad to places like the U.S., China , India , the United Kingdom , the Philippines and many countries in Europe . With only a few simple steps, customers can send money in a matter of seconds and their recipients can access the funds in as little as one day.

  • Gold’s ‘Cold Blooded’ Gain Shows Virus-Induced Rush Into Havens
    Bloomberg

    Gold’s ‘Cold Blooded’ Gain Shows Virus-Induced Rush Into Havens

    (Bloomberg) -- Investors are rushing to the safety of gold amid a selloff in U.S. stocks on mounting concerns the coronavirus outbreak will derail global growth.Gold jumped as much as 2%, extending its climb to a seven-year high, as the S&P 500 Index headed for its first weekly loss since January. In a sign that the virus is starting to dent the world’s largest economy, business activity in the U.S. shrank in February for the first time since 2013 with the pandemic disrupting supply chains.“The persistent, cold-blooded and measured shift in gold higher, despite the U.S. dollar, is telling,” Nicky Shiels, a metals strategist at Bank of Nova Scotia, said in emailed message. “The breakout is warranted and has legs.”Gold futures for April delivery rose 1.7% to settle at $1,648.80 an ounce at 1:30 p.m. on the Comex in New York, the highest closing price for a most-active contract since mid-February 2013. The metal notched a 3.9% gain this week, the biggest increase since June. The rush to haven assets also sent Treasury yields tumbling.“Gold is in the midst of its perfect storm,” said Ole Hansen, head of commodity strategy at Saxo Bank A/S.Prices of bullion in euros and Australian and Canadian dollars climbed to records. Holdings in gold-backed exchange traded funds climbed for 22 straight sessions through Thursday, the longest ever run, according to data compiled by Bloomberg. And the amount of call options traded in a single day spiked to the highest ever in records dating to 1996, according to preliminary data.This stretch of inflows “certainly gives an indication about concerns around the global economy,” Andrew Jamieson, global head of ETF product at Citigroup Inc. in London, said in an interview with Bloomberg TV.The outbreak has worsened outside of China, with cases in South Korea climbing past 200, while tallies for Singapore and Japan topped 85. A jump in coronavirus cases in Iran is also raising concern. Chinese authorities adjusted the number of cases for the third time this month, raising more questions over the reliability of the data.In more than half of the world’s 20 biggest economies, analysts now expect looser budgets this year — in other words, bigger deficits or smaller surpluses — than they did six months ago, according to a Bloomberg survey of economist forecasts.The Commonwealth Bank of Australia expects the Federal Reserve to ease twice in the second half of the year as the virus threatens the global economy.Still, lower U.S. yields and weaker equities could push gold prices further toward $1,750 an ounce even if the coronavirus is contained during the first quarter, according to Goldman Sachs Group Inc.If the outbreak stretches beyond that, “we see substantially more upside from here -- toward $1,850 an ounce, depending on the magnitude of the global monetary policy response,” the bank said in a note Friday.Silver futures also climbed on the Comex. On the New York Mercantile Exchange, palladium futures rose while platinum futures declined.\--With assistance from Yvonne Yue Li, Elena Mazneva and Ranjeetha Pakiam.To contact the reporters on this story: Luzi Ann Javier in New York at ljavier@bloomberg.net;Justina Vasquez in New York at jvasquez57@bloomberg.netTo contact the editors responsible for this story: Lynn Thomasson at lthomasson@bloomberg.net, Luzi Ann Javier, Joe RichterFor 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.

  • CNW Group

    Scotia Global Asset Management announces February 2020 cash distribution for Scotia Strategic Fixed Income ETF Portfolio

    Scotia Global Asset Management announces February 2020 cash distribution for Scotia Strategic Fixed Income ETF Portfolio

  • CNW Group

    The longlist for the 2020 Scotiabank Photography Award is announced

    The longlist for the 2020 Scotiabank Photography Award is announced

  • CNW Group

    /R E P E A T -- Scotiabank to Announce First Quarter 2020 Results/

    /R E P E A T -- Scotiabank to Announce First Quarter 2020 Results/

  • CNW Group

    Historical transactions by 1832 Asset Management L.P. of trust units of European Residential Real Estate Investment Trust

    TORONTO , Feb. 14, 2020 /CNW/ - 1832 Asset Management L.P. ("1832") is reporting today historical transactions made by it, on behalf of certain investment funds it manages, of trust units (the "Units") of European Residential Real Estate Investment Trust (the "REIT"). The head office of the REIT is located at 11 Church Street, Suite 401, Toronto, Ontario M5E 1W1. On September 24, 2019 , the REIT completed a prospectus offering of 40,185,000 Units (the "September Offering").

  • Shopify’s Sweetheart Week Has It Encroaching on Market Stalwarts
    Bloomberg

    Shopify’s Sweetheart Week Has It Encroaching on Market Stalwarts

    (Bloomberg) -- Canada’s homegrown tech company Shopify Inc. is on a tear.After surging annually since its 2015 initial public offering, it has rallied 36% to a market value of almost C$82 billion ($62 billion) in 2020, making it the seventh largest company on the S&P/TSX Composite Index. That puts it about C$8 billion away from usurping Bank of Nova Scotia -- the fifth biggest company. Canadian National Railway Co. -- is No. 6 on the benchmark.Shopify’s value has climbed about C$7.9 billion just this week as fourth-quarter revenue topped analysts’ estimates and the provider of online shopping tools gave an optimistic forecast for the year.Shares of Shopify have skyrocketed to fresh records amid a dearth of quality tech companies on the S&P/TSX Composite Index. The benchmark tech gauge has a mere 10 members compared with over 71 on the S&P 500’s tech index, which includes FAANG giants such as Facebook Inc., Amazon.com Inc., Apple Inc., Netflix Inc. and Google parent Alphabet Inc.Still, Shopify’s meteoric rise has some analysts calling for caution. Credit Suisse analyst Brad Zelnick downgraded the stock to the equivalent of a hold on its “lofty valuation” but raised his share price target for the U.S.-listed stock to $575 from $450. He did, however, contend that company has a “great business.” The stock is currently sitting at about $527.Markets -- Just The NumbersChart of The WeekPoliticsPrime Minister Justin Trudeau said the government will do everything it can to resolve protests that have crippled parts of the country’s railways, leading to disruptions in passenger travel and the shipment of key goods. RBC Capital Markets said the demonstrations are another reason the Bank of Canada will be “biased to ease.”Get the latest news on the pipeline protests hereThe coronavirus continues to spread within China. Finance Minister Bill Morneau said that the epidemic will take a “real” toll on Canada’s economy given it’s global knock-on effects. Reduced tourism from China and lower commodity prices will also impact Canada’s growth.EconomyA new survey showed that Canadians are growing increasingly confident of getting a job with better pay were they to leave their current workplace, another indication of the health of the nation’s labor market as the unemployment rate sits at historic lows and wages climb near the fastest pace since the recession.The housing market in major Canadian cities continued to tighten as home sales fell and prices rose in January. A combination of steady population growth, low unemployment and cheap borrowing costs have brought buyers into the market but shrinking supply is damping transactions and driving bids for homes higher in places like Toronto.Up next, economists will be watching manufacturing sales figures on Feb. 18, inflation data due Feb. 19 and retail sales expected on Feb. 21. The stock market is closed on Monday for a holiday in Ontario and some other provinces.TrendingInCanada1\. Former Mississauga Mayor Hazel McCallion, also known as “Hurricane Hazel” turned 99 with NHL’s Maple Leafs team celebrating her birthday. She was in office for 12 terms before stepping back in 2014.2\. An extreme cold warning alert was issued for the city of Toronto Friday as temperatures dip below 30 degrees Celsius (that’s -22 degrees Farenheit).\--With assistance from Shelly Hagan.To contact the reporter on this story: Divya Balji in Toronto at dbalji1@bloomberg.netTo contact the editors responsible for this story: Kyung Bok Cho at kcho7@bloomberg.net, Jacqueline Thorpe, Danielle BochoveFor 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.

  • CNW Group

    Scotiabank Wraps up Technology Conference in Montreal

    MONTREAL , Feb. 11, 2020 /CNW/ - Scotiabank today concluded its inaugural Quebec Growth Technology Conference in Montreal . Scotiabank's President and CEO Brian Porter joined other business and technology leaders, to discuss Quebec's growing stature as a global technology hub and its continued focus for Scotiabank moving forward.

  • CNW Group

    70% of Canadians Think They Won't Save Enough for Retirement, Scotiabank Poll

    TORONTO , Feb. 11, 2020 /CNW/ - A recent Scotiabank Retirement Survey revealed that while 68% of Canadians are currently saving for retirement, 70% are worried that they are not saving enough. According to the findings, the average Canadian expects to need $697,000 in retirement savings, less than the average amount of $753,000 expected back in 2017. Findings from the 2019 Scotiabank Investment Poll also suggest that retirement planning has taken a back seat due to more immediate financial priorities.

  • MEDIA ADVISORY - Scotiabank® Hockey Day in Canada festivities are coming to Churchill
    CNW Group

    MEDIA ADVISORY - Scotiabank® Hockey Day in Canada festivities are coming to Churchill

    CHURCHILL, MB , Feb. 6, 2020 /CNW/ - Scotiabank® Hockey Day in Canada (SHDiC) is excited to bring its cross-country celebration to Churchill Manitoba on Friday, February 7 and Saturday, February 8 , with a donation of hockey equipment provided by CCM to the local community through Project North. The event will also feature a Community HockeyFest that includes hockey clinics hosted by NHL Alumni John Chabot and Mark Stuart and an autograph session.

  • CNW Group

    Scotiabank to Announce First Quarter 2020 Results

    Scotiabank to Announce First Quarter 2020 Results

  • MEDIA ADVISORY - Scotiabank® Hockey Day in Canada celebrates its 20th anniversary in Yellowknife, Northwest Territories
    CNW Group

    MEDIA ADVISORY - Scotiabank® Hockey Day in Canada celebrates its 20th anniversary in Yellowknife, Northwest Territories

    MEDIA ADVISORY - Scotiabank® Hockey Day in Canada celebrates its 20th anniversary in Yellowknife, Northwest Territories