One Canadian bank that has continued to “disappoint” with each quarterly earnings release is Bank Of Nova Scotia Stock (BNS).
Earnings this morning from Bank Of Nova Scotia (BNS) kicked off Canadian bank earnings which conclude over the next couple of weeks. If they are any indication what to expect, investors may not have any need to rush out and buy more bank stocks.
Bank Of Nova Scotia Earnings Were Ho-Hum
Earnings from Bank Of Nova Scotia were encouraging but rather ho-hum and continue to show that domestic markets are what is keeping profits afloat despite the bank’s focus on the “international” component of its business which earned $823 million, up from $804 million for the same period last year. However global banking and markets earned only $405 million down from $416 million so you can see why the international component continues to baffle the bank, quarter after quarter.
So with “ho-hum” earnings the chance of the stock roaring higher is slim while any dip in the stock is probably an opportunity. Here are two trades entered today following their earnings release. I do not think there is any need to rush into trades in BNS.
These trades are being done on the TSX Composite Index in Canadian dollars.
The rest of this Canadian Stocks trade alert and ideas article is for FullyInformed Members.
Bank Of Nova Scotia Stock (BNS) Trade After Ho-Hum Earnings – Nov 26 2019
Disclaimer: There are risks involved in all investment strategies and investors can and do lose capital. Trade at your own risk. Stocks, options and investing are risky and can result in considerable losses. None of the strategies, stocks or information discussed and presented are financial or trading advice or recommendations. Everything presented and discussed are the author’s own trade ideas and opinions which the author may or may not enter into. The author assumes no liability for topics, ideas, errors, omissions, content and external links and trades done or not done. The author may or may not enter the trades mentioned. Some positions in mentioned stocks may already be held or are being adjusted.