Bank of Nova Scotia T.BNS

Buying... good sign

[zack50]

On Sept. 28, chairman of the board Aaron Regent invested nearly $2-million in shares of Scotiabank.  He purchased 29,900 shares at a price per share of $66.8076, after which this specific account held 92,422 shares.

Mr. Regent is the former president and chief executive officer of Barrick Gold Corp. 

On Sept. 28, director Calin Rovinescu bought 3,000 shares at an average price per share of approximately $67.045 for an account in which he has indirect ownership (Scarsdale Capital), increasing this specific account’s holdings to 17,929 shares. The cost of this purchase exceeded $201,000.

Mr. Rovinescu is the former president and chief executive officer of Air Canada.

[RayDonovan78]

Yes it is....Gobbled some up last week on the lows adding to my initial position at the Covid 2020 lows. Not worried, good retirement hold, collecting a divy at roughly 7%....drawing a CIBC dIvy of 7.6% and BNS at 7% 

[masfortuna]

Analysts have downgraded banks to "sell" expecting a 15% drp in the sp from here overall. In the case of BNS that will be closer to 20%.  So if your time horizon is 10+ years you will get a great buying opportunity soon Ray. 

[NewfNewf]

Credit Suisse will bring down all the financial stocks so you will get this stock much much cheaper. I'm guessing low 40's.

[Stocker46]

You're dreaming NewfNewf. Already grossly under valued compared to other Cdn banks. At $40, you would be looking at a10% dividend yield .. currenly at 6.4 %. Bought more today.

[NewfNewf]

Don't get me wrong i like BNS as i was a shareholder and sold at 88's. I've been trading it every since. I prefer to to just hold this stock and collect the dividend but capital preservation is always first on my mind and then the dividend as the dividend can always be cut. Earnings will not be great this quarter and who knows what exposure they have to some of these very large banks

[Stocker46]

Nothing wrong with dreaming. I've also sold a few stocks fairly recently & am hoping to get back in at a lower price.  Hard to predict a bottom but some are getting close to my target prices.

[NewfNewf]

Agree. Picking bottoms is impossible. You may get lucky once in a while. Lots of great companys like Intel, walgreens, verizon that has been getting beat up prttty good and all three has great valuations and great dividend yield right now. i may start to take a position in these next week. What names are you looking at to get in at a better price point?

[1condor]

I took a postion in BNS this morning...can it go lower...probably...but happy with my entry point.

[Karl63]

Surprised you'd take a position in it, given management problems, not to mention the challeging political and economic situation in Latin America.  The banks time will come, and I'm watching RY, TD and NA carefully.

[NonCredibleSrc]

And better than a 6% divvy while you wait!

[carlocarli]

Thank you for your contribution NewfNewf. I do not understand how Credit Suiisse will bring down all financial stocks. Would you or anyone else care to explain. I would really appreciate it. Thank you in advance.

[RayDonovan78]

Yes the same analysts that said sell in March 2020. My average cost is still way above current price with a 7% divy..... CIBC is even better....I love those Analysts !!

[RayDonovan78]

Yes the same analysts that said sell in March 2020. My average cost is still way BELOW current price with a 7% divy..... CIBC is even better....I love those Analysts !!