|Bid||0.00 x 1000|
|Ask||0.00 x 1400|
|Day's Range||56.51 - 57.09|
|52 Week Range||48.34 - 58.22|
|Beta (5Y Monthly)||1.22|
|PE Ratio (TTM)||11.07|
|Earnings Date||Feb 6, 2017 - Feb 10, 2017|
|Forward Dividend & Yield||2.71 (4.78%)|
|1y Target Est||72.27|
Although the masses and most of the financial media blame hedge funds for their exorbitant fee structure and disappointing performance, these investors have proved to have great stock picking abilities over the years (that's why their assets under management continue to swell). We believe hedge fund sentiment should serve as a crucial tool of an […]
Toronto-Dominion Bank (TD) fourth-quarter fiscal 2019 results reflect higher revenues, partly offset by rising expenses and higher provisions.
Spruce Point Capital says stock in the bricks-and-mortar retailer Canadian Tire could fall up to 50%. Shares, however, fell only about 1% after the report was released.
TORONTO , Dec. 5, 2019 /CNW/ - Women entrepreneurs who apply for business loans may fare better than they expect, according to survey results released today by Scotiabank on the first anniversary of The Scotiabank Women Initiative. The survey of nearly 1,000 small business owners across Canada aims to identify the financial needs of women entrepreneurs. The survey found that women entrepreneurs lag men entrepreneurs in applying for business loans – but are more likely to have the loan application approved.
TORONTO , Dec. 3, 2019 /CNW/ - Scotiabank announced today the closing of the previously announced transaction (the "Transaction") to reduce its 49% interest in Thanachart Bank Public Company Limited ("TBank") in Thailand . As part of agreements entered into with ING Groep N.V., TBank and TMB Bank Public Company Limited ("TMB") in August 2019 , Scotiabank is selling its 49% interest in TBank in exchange for cash and an approximately 6% ownership interest in the form of common shares in TMB.
When you buy and hold a stock for the long term, you definitely want it to provide a positive return. But more than...
TORONTO , Nov. 29, 2019 /CNW/ - Scotia Global Asset Management today announced the estimated year-end reinvested distributions for the Scotia Strategic ETF Portfolios listed on the TSX for the 2019 tax year.
TORONTO , Nov. 29, 2019 /CNW/ - Scotiabank has been named the Canadian Bank of the Year for 2019 by The Banker magazine, a Financial Times publication. "We are very pleased to be named this year's Bank of the Year in Canada by The Banker," said Brian Porter , President and Chief Executive Officer of Scotiabank. Over the past several years, Scotiabank has successfully repositioned itself through a series of strategic acquisitions and divestitures, both in Canada and in core international markets, to focus the Bank's footprint and strengthen its business mix.
Gavin Graham is a specialist in international securities and has held senior positions in financial organizations in London, Hong Kong, and Toronto. Here, the contributing editor to Internet Wealth Builder reviews two recommendations among Canadian banks.
Moody's Investors Service ("Moody's") has assigned definitive ratings of Aa1(sf) to the Class B notes, A2(sf) to Class C notes, and Ba1(sf) to Class D notes issued by Securitized Term Auto Receivables Trust 2019-CRT (START 2019-CRT). This is the seventh term auto loan-backed transaction sponsored by The Bank of Nova Scotia (BNS). The ratings are primarily based on an analysis of the credit quality of the collateral pool, the servicing ability of BNS, and the level of credit enhancement available under the proposed capital structure.
(Bloomberg) -- Bank of Nova Scotia is putting the spotlight on its global wealth-management business, for good reason.The takeovers of Canadian money managers Jarislowsky Fraser Ltd. and MD Financial Management last year contributed to the second-highest quarterly profit from wealth management in five years and the biggest profit growth among the bank’s main businesses in the fiscal fourth quarter, according to a statement Tuesday.Scotiabank is the first major Canadian lender to report quarterly results for a period analysts anticipate will be tougher for capital markets divisions and banking operations overseas and in the U.S., where rate cuts are eating into margins. The country’s Big Six lenders are expected to post adjusted earnings growth of 4% for the period, the median of estimates compiled by Bloomberg Intelligence.For Canada’s third-largest lender by assets, wealth management played a key role for earnings growth, with profit from the business rising 16% to C$303 million ($228 million) in the quarter ended Oct. 31. Chief Executive Officer Brian Porter sees so much promise from wealth management that the Toronto-based company is starting to break out earnings from the business as a separate division this fiscal year.Global BankingGains from the unit helped offset a 2.6% decline from global banking and markets, a division that has seen profit growth only once in the past two years. It posted profit of C$405 million and recorded an increase in year-over-year revenue for the first time in almost three years, helped by higher investment-banking fees and trading revenue. Earnings from international banking rose 2.4% to C$823 million, while Canadian banking climbed 2.5% to C$1.14 billion.The bank’s overall profit rose 1.6% to C$2.31 billion, with per-share adjusted earnings of C$1.82 matching analysts’ estimates.“Canadian banking and international banking came in below our expectation,” but that was offset by better-than-expected results in global banking and markets as well as the corporate business, Darko Mihelic, an analyst at RBC Capital Markets, said in a note to clients.Scotiabank shares fell 0.1% to C$75.75 at 9:35 a.m. trading in Toronto. The shares had climbed 11% this year through Monday, making it the worst performer among Canada’s large lenders and lagging Canada’s eight-company S&P/TSX Commercial Banks Index, which gained 15%.Key InsightsScotiabank’s year-end results missed its medium-term objective for earnings-per-share growth of at least 7%, with the lender posting a 2.1% decline for the year on a reported basis or 0.4% increase on adjusted earnings. The bank also fell short of its profitability goal, with return on equity of 13.1% versus its 14%-plus target. It missed its target of achieving positive operating leverage.Porter said he expects the bank to deliver organic earnings growth “in the mid-single digits” for fiscal 2020, with “low- to mid-single digit” growth in Canadian banking, “mid-single-digit” growth in its capital markets unit and “high single-digit” growth in wealth.Scotiabank said it’s moving to annual dividend announcements starting in the second quarter, altering its practice of making changes to the payout every other quarter.The bank set aside C$753 million for soured loans in the quarter, a 5.6% increase since the third quarter and 28% jump from a year earlier, with higher provisions in both retail and commercial lending.Get MoreRead more about Scotiabank’s results here.(Updates with company and analysts’ comments starting in seventh paragraph.)To contact the reporter on this story: Doug Alexander in Toronto at firstname.lastname@example.orgTo contact the editors responsible for this story: Michael J. Moore at email@example.com, ;David Scanlan at firstname.lastname@example.org, Steve Dickson, Steven CrabillFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Analysts expressed concerns about the bank's international business, whose adjusted earnings growth of 4.3% missed expectations amid geopolitical concerns in some markets, despite outpacing Canada's more staid 1.2% increase. The international unit, which accounts for a little over a third of Scotiabank's adjusted earnings, also posted a 9 basis-point drop in net interest margins, compared with a 2 basis-point rise in Canada.
Bank of Nova Scotia (BNS) delivered earnings and revenue surprises of 0.00% and 0.15%, respectively, for the quarter ended October 2019. Do the numbers hold clues to what lies ahead for the stock?
Bank of Nova Scotia, Canada's third-biggest lender, kicked off banks' fourth-quarter earnings on Tuesday with disappointing profit growth in its international banking segment, which overshadowed a slight overall earnings beat. Analysts expressed concerns about the bank's international business, whose adjusted earnings growth of 4.3% missed expectations amid geopolitical concerns in some markets, despite outpacing Canada's more staid 1.2% increase.
The 700+ hedge funds and famous money managers tracked by Insider Monkey have already compiled and submitted their 13F filings for the third quarter, which unveil their equity positions as of September 30. We went through these filings, fixed typos and other more significant errors and identified the changes in hedge fund portfolios. Our extensive […]
Scotia Global Asset Management announces November 2019 cash distribution for Scotia Strategic Fixed Income ETF Portfolio