#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
The Bank of Nova Scotia provides various banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally. It operates through Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets segments.
Read More - Current Price
- C$79.85
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 6 Buy Ratings, 7 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- C$76.00 (4.8% Downside)
