Bank of Nova Scotia BNS

$ 78.99

[TimeBuilder1]

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[nedstar71]

Amazing this is now above TD in share price.  How the great have fallen.  Hated to do it but I did the switch from this to TD today and pocketed some change.  Dividends are now basically the same and once the dust clears I think TD should outperdorm BNS.  It just may take awhile.  Beautiful run here though from just a couple of months ago.

[Botero789]

Interesting strategy. In my opinion TD will not move a lot in the short term. US regulators have put it in the penalty box and built a fence around it with a much tighter regulatory framework in terms of growth in the US market. However TD is a great business so you should be fine in the medium to long term. Having said that I honestly believe Scotiabank is going to $85 minimum. Courageous move! I

[nedstar71]

Yes it will be interesting to see how it plays out.  I don't expect to make great gains in either situation, just felt like BNS has run quite hard and I timed my buy at just over $61 a few months back.  In my warped mind, dividends now being basically the same I've convinced myself that I essentially paid $61 for TD.

[Botero789]

Haha! No I don't think a warped mind. TD has Preannounced a new CEO starting in April 2025 and has increased their corporate governance on money laundering risks. So it's only a matter of time before they make a come back. I think BNS will continue their run!  hopefully the earnings on December 3 are solid. They are first out of the gate this earnings cycle in terms of the big

[nedstar71]

Short term, as in one day, my swap appears to have been a mistake lol.

[zack50]

In response to your request for clarification... hope this is of some assistance. Brian Morton upgraded BNS to "Equal Weight" from "Underweight" with a price target of C$81, up from C$70. He noted that while Canadian bank earnings in Q4 might face seasonal headwinds and impacts from lower rates, asset management should help fee revenue. Jefferies maintained a "Hold"

[Botero789]

Thank you for the additional detail, appreciate it. It will be interesting to see what happens in the next earnings release as well as in 2025. It takes a while to shift these massive banks in a new strategic direction! I'm not sure why there wasn't more criticism of Brian Porter, the former CEO. The bank share price and earnings were languishing under his last few years of leadership

[zack50]

Yes, Brian Porter's tenure as CEO of Scotiabank did face some scrutiny, especially towards the end. The bank's share price and earnings were under pressure, partly due to its significant international exposure and the broader economic challenges. However, Porter also navigated the bank through the financial crisis and made strategic investments in digital innovation and Latin America.

[Puma1back]

Agree on your calls on BNS, surprising how the analysts trashed the stock the first weeks after the US deal but now they love it. anyway, we do need to remember that only the retail side of TD usa was fenced in with limits. Business side is still there to grow if they want. As well, they should toss the bottom 20% of their crappy US customers and reallocate that capital to the retail spots

[Botero789]

You are exactly right the analysts and also a couple BNN guests were initially somewhat critical (at least not positive), on the minority stake BNS acquired in US based KeyCorp bank. now they seem to really like the strategy. I have followed the BNS quarterly Q and A conferences. I am quite impressed with the new CEO. You are also quite correct to clarify that the entire TD enterprise is not