Bank of Nova Scotia T.BNS

In the $50's next week?

[mbuch]

After the results and with the overall market sentiment, I can see this easily in the $50's by end of next week.

By far my worst investment this year. I never would have thought a Canadian bank to be the case.

Will hold for the dividend and maybe average down yet again soon depending on their guidance.

It's gonna be a bumpy ride though.

[Goldluck]

I never thought it either.  History shows when bank stocks drop things are bad even though governments won't admit it.

[Deuteronomy818]

Excellent credit rated customers in Canada have recently had their unsecured PLC's reduced by 95% due to idle use with no chance of reinstatement.  This is a concern for sure. 

[FiddyFiddyShot]

BNS was Fiddy-something in 2020 during the pandemic, then it rose right back up to 95 dollars. It could very well do both again, rinse and repeat.  As long as the dividend remains intact, it's just a waiting game...

[mbuch]

The dividend is what I'm worried about.

[BlackDay1]

When was the last time they reduced the divi?

[kingdocta]

I googled it, they didn't cut dividends in 2008, I doubt they'll cut them now: Have Canadian banks ever reduced dividends? "); display: inline-block; height: 24px; width: 24px; transform: rotateZ(-180deg);">     Royal Bank of Canada (TSX:RY), Scotiabank (TSX:BNS), TD Bank (TSX:TD), Bank of Montreal (TSX:BMO), and CIBC have

[FiddyFiddyShot]

Laurentian Bank slashed their dividend back in May 2020:  https://www.bnnbloomberg.ca/laurentian-bank-slashing-dividend-40-in-rare-move-for-canadian-lender-1.1442846#:~:text=Laurentian%20Bank%20of%20Canada%20announced,cent%20to%20%240.40%20per%20share.

[Quintessential1]

No they sure did not cut in 2008.  In fact they were the only bank to increase their divy. They didn't cut their divy during the pandemic either and didn't increase it because of BOC regs. It would appear they have not cut it again.  6.75% yield with a very favourable tax treatment. GLTA 

[Winnipeg40]

None of the big banks even cut their dividend during the 1930s depression.    Never bet against the BIG Canadian Bank dividends....its a bad move.  National Bank yes,  Laurention Bank yes...both cut..but these are not the big guys

[NonCredibleSrc]

Perhaps you found some solice in yesterday's trading action - I hope that to be true. It's highly unlikely that we will see any of the big 6 cut their divvy in our lifetime. Today's div yields are too much to ignore. Riughly 4% higher than standard inflation. Anyone not loading up at today's prices, with today's yields, is likely making poor decisions. 1, 3, 5 years out these

[Karl63]

I own it, but have never been a big fan, especially when you look at the 10 year capital gain; it's practically non-existant, meaning you hold for the dividend only.  I sold some this morning at 63.97 and immediately bought BMO at 112.61; a switch I'm comfortable with.

[Runner117]

Actually i boughr more

[Quintessential1]

Looks to be a good move. "The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.28 per share.   The bank posted revenue of $13.64 billion in the period. Its revenue net of interest expense was $6.06 billion, also exceeding Street forecasts." https://www.washingtonpost.com