#6 - Bank of Nova Scotia (TSE:BNS)
Bank of Nova Scotia (TSE:BNS) In recent months, BNS has spent billions of dollars building a presence in Latin America. The bank is specifically targeting Peru, Chile, Colombia and Mexico. These four countries are home to over 230 million consumers. The plan is for BNS to see rising demand for loans and investment products as the middle class in these countries grows. Growth from these countries would continue to boost the bank’s profit from international operations which already accounts for almost 30% of its profits. An additional sign of strength for the stock is insider buying. While executives may sell a company’s stock for a variety of reasons, there is typically only one reason to buy. That is, they expect the stock to appreciate from its current level. The Bank of Nova Scotia is one of Canada’s Banking All-Stars. The company recently raised its dividend to $0.03 per share. This was in addition to an additional dividend increase earlier in the year, putting their total dividend increase to 5.88% for 2019.
About Bank of Nova Scotia
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.
More about Bank of Nova Scotia- Current Price
- C$75.16
- Consensus Rating
- Hold
- Ratings Breakdown
- 5 Buy Ratings, 9 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- C$77.31 (2.9% Upside)
