- Scotiabank reported a provision for credit losses of C$1.11 billion, slightly missing the estimate of C$1.08 billion.
- Earnings per share were reported at C$1.65.
- The bank’s common equity Tier 1 ratio was documented at 13.2%, just shy of the estimated 13.3%.
- Net income for the quarter was C$2.21 billion.
- Revenue came in at C$9.80 billion, surpassing the estimated C$9.43 billion.
- Analyst recommendations include 5 buys, 8 holds, and 4 sells.
A look at Bank Of Nova Scotia Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 4 | |
| Dividend | 4 | |
| Growth | 3 | |
| Resilience | 3 | |
| Momentum | 4 | |
| OVERALL SMART SCORE | 3.6 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
In analyzing Bank of Nova Scotia’s long-term outlook using Smartkarma Smart Scores, the company appears to be positioned well across various key factors. With strong scores in value and dividend at 4 out of 5, it indicates that the company is seen favorably in terms of these fundamental aspects. Additionally, a momentum score of 4 suggests positive market sentiment and potential for growth in the future. On the other hand, scores of 3 in growth and resilience indicate moderate performance in these areas, signaling room for improvement.
Bank of Nova Scotia provides a range of banking services including retail, commercial, international, corporate, investment, and private banking. The company’s overall Smart Scores paint a picture of a solid institution with promising value and dividend prospects, supported by positive momentum in the market. However, there may be opportunities for Bank of Nova Scotia to focus on enhancing growth and resilience strategies to further strengthen its long-term position in the banking industry.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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