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Bullboard - Stock Discussion Forum Bank Nova Scotia Halifax Pfd 3 T.BNS

Alternate Symbol(s):  BNS | T.BNS.P.I | BNSPF

Bank of Nova Scotia is a global financial services provider. The bank has five business segments: Canadian banking, international banking, global wealth management, global banking and markets, and other. It offers a range of advice, products, and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. The bank's international operations span numerous countries and are more concentrated in Central and...

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CEO

angelnicky (105) | August 23, 2022 07:31 pm

should step down ASAP for poor performance and take a salary cut

RE:CEO

Quintessential1 (10662) | August 23, 2022 10:43 pm

I would say your mom should step down and take a salary cut but she is practicaly giving it away at her prices.

Third quarter 2022 earnings: EPS in line with expectations.

Third quarter 2022 results: EPS: CA$2.10 (up from CA$2.00 in 3Q 2021).

Revenue: CA$7.39b (flat on 3Q 2021). Net income: CA$2.50b (up 3.2% from 3Q 2021).

Profit margin: 34% (up from 33% in 3Q 2021). Revenue missed analyst estimates by 5.4%.

Earnings per share (EPS) were mostly in line with analyst estimates.

Over the next year, revenue is forecast to grow 12%, compared to a 4.1% growth forecast for the Banks industry in Canada.

Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth.


angelnicky wrote: should step down ASAP for poor performance and take a salary cut


RE:CEO

CJInvestor (108) | August 24, 2022 02:31 pm

Agree something needs to give.


Most of the weakness was from the Latin America division. This was a risky move years ago by the ceo and board to diversify into the region while other banks like bmo and td went into the USA. Now we are here. Some heads need to roll that's for sure. We are down over 5 years while all other Canadian banks are up by 20-40 percent. What does that say about management?? 

RE:CEO

SargeX (10587) | August 24, 2022 06:10 pm

I totally agree that Porter has done a really poor job as CEO. He took over in Nov, 2013 and BNS has consistently under-performed the other 3 banks we own since then, 

I can recall a number of moves that have blown up where they bought something only to sell it later at a reduced price.

My wife & I are buy & hold dividend income investors and we do like the larger payout. Capital appreciation is very secondary to us but if it does matter to any investor, this is not the bank to own.

I just generated the follwing table from Morningstar for total returns (including dividends paid). I also added ZWB to show that even a bank ETF has out-performed it on 3, 5, and 10 year periods.

Ciao
  Sarge

Ticker   YTD%   1yr%   3yr%   5yr%   10yr%
BMO   -0.73   5.86   16.30   10.51   11.34
BNS   -12.26   0.30   8.99   4.08   7.45
RY   -3.04   -0.37   12.73   9.67   11.79
TD   -8.79   3.49   10.08   9.34   10.64
ZWB   -7.12   -2.86   10.43   7.28   9.34

angelnicky wrote: should step down ASAP for poor performance and take a salary cut


RE:RE:CEO

TammySweets (63) | November 09, 2022 05:16 am

SargeX wrote: I totally agree that Porter has done a really poor job as CEO. He took over in Nov, 2013 and BNS has consistently under-performed the other 3 banks we own since then, 

I can recall a number of moves that have blown up where they bought something only to sell it later at a reduced price.

My wife & I are buy & hold dividend income investors and we do like the larger payout. Capital appreciation is very secondary to us but if it does matter to any investor, this is not the bank to own.

I just generated the follwing table from Morningstar for total returns (including dividends paid). I also added ZWB to show that even a bank ETF has out-performed it on 3, 5, and 10 year periods.

Ciao
  Sarge

Ticker   YTD%   1yr%   3yr%   5yr%   10yr%
BMO   -0.73   5.86   16.30   10.51   11.34
BNS   -12.26   0.30   8.99   4.08   7.45
RY   -3.04   -0.37   12.73   9.67   11.79
TD   -8.79   3.49   10.08   9.34   10.64
ZWB   -7.12   -2.86   10.43   7.28   9.34

angelnicky wrote: should step down ASAP for poor performance and take a salary cut