Analyst Consensus ?
ConsensusHold19 ratings
Bullish1052.6%
Neutral842.1%
Bearish15.3%
The Bank of Nova Scotia · BNS · FY2024 Q4 · Calendar Q4 2024
Scotiabank maintains outlook while shifting capital toward North America
The supplied analysis supports a measured view: Scotiabank’s earnings trajectory is underpinned by Canadian banking, wealth-management growth, client primacy, and a North-American strategy, but the case depends on credit-cost control and effective international and capital-allocation execution.
Reported Before market openNYSEFinancial Services
$113.23B market cap
80quality score
Earnings scorecard
Reported versus consensus
Reported EPS
—
Consensus $1.16
EPS surprise
—
Reported versus consensus
Reported revenue
—
Consensus $6.24B
Revenue surprise
—
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
-3.5%
Event window
SPY move
+0.0%
Same window
Abnormal move
-3.6%
Stock minus SPY
Volume
2.0×
Versus trailing sessions
Subsequent drift
-2.1%
Up to 20 sessions
BNSSPY benchmark
Ask FN2 about BNS FY2024 Q4
Transcript, numbers and history already loaded
What drove BNS's -3.5% move after FY2024 Q4 earnings?What changed in BNS's guidance and outlook in FY2024 Q4?Give me the bull and bear case for BNS after FY2024 Q4 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
The current analysis places greater emphasis on the North-American corridor, including the KeyCorp investment and Peru divestiture, while highlighting a larger primary-client opportunity and continued pressure from credit costs, international execution, and tax.
Guidance delta
Maintained: management reaffirmed its existing earnings-growth outlook in the supplied analysis.
Key takeaways
- Management described modest earnings growth and record net income, supported by Canadian banking and wealth management.
- The strategic direction emphasizes North-American corridor exposure, including the KeyCorp investment and Peru divestiture.
- Credit costs, international execution, and capital deployment remain the main checks on the outlook.
Management priorities
- Deepen primary client relationships through Scene+ and Mortgage+.
- Scale wealth-management and transaction-banking fee income.
- Integrate the KeyCorp investment, regionalize international commercial banking, and maintain cost and capital discipline.
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$92.9Current
$67Low
$72.15Average
$75.6High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 25, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| RBC Capital | Sector Perform | Sector Perform | Maintain | May 28, 2026 |
| Scotiabank | Hold | Hold | Maintain | Aug 30, 2023 |
| Barclays | Underweight | Underweight | Maintain | Aug 21, 2023 |
| CIBC | Outperform | Neutral | Upgrade | Mar 2, 2021 |
| B of A Securities | Neutral | Neutral | Maintain | May 13, 2020 |
| CFRA | Buy | Buy | Maintain | Mar 18, 2020 |
| Credit Suisse | Neutral | Outperform | Downgrade | Dec 13, 2019 |
| Bank of America | Buy | Neutral | Upgrade | Sep 24, 2019 |
| BMO Capital | Outperform | Outperform | Maintain | Aug 28, 2019 |
| Canaccord Genuity | Hold | Buy | Downgrade | Aug 29, 2018 |
| Dundee | Buy | Buy | Maintain | Sep 21, 2016 |
| Macquarie | Neutral | Outperform | Downgrade | Jun 9, 2016 |
| Cormark Securities | Buy | Market Perform | Upgrade | Jun 1, 2015 |
| Citigroup | Neutral | Neutral | Maintain | Mar 6, 2015 |
| TD Securities | Buy | Buy | Maintain | Aug 27, 2014 |
| National Bank Financial Inc | Outperform | Sector Perform | Upgrade | May 15, 2014 |
| National Bank Financial | Outperform | Sector Perform | Upgrade | May 15, 2014 |
| Stifel Nicolaus | Hold | Hold | Maintain | Aug 28, 2012 |
| Bank oferica | Buy | Buy | Maintain | May 30, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $92.9. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| RBC Capital | Darko Mihelic | $74 | $55.38 | -20.3% | Dec 4, 2024 |
| BMO Capital | Sohrab Movahedi | $72 | $48.98 | -22.5% | Aug 28, 2024 |
| UBS | Jill Shea | $67 | $45.46 | -27.9% | Jul 2, 2024 |
| Bank of America Securities | Ebrahim Poonawala | $75.6 | $62.51 | -18.6% | May 19, 2021 |
Track every rating change on BNS the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationThe 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. The company offers financial advice and solutions, and banking products, including debit and credit cards, chequing and saving accounts, investments, mortgages, loans, and insurance to individuals; and retail automotive financing solutions. It also provides business banking solutions comprising lending, deposit, cash management, and trade finance solutions to small, medium, and large businesses. In addition, it provides wealth management advice and solutions, including online brokerage, mobile investment, full-service brokerage, trust, private banking, and private investment counsel services; and retail mutual funds, exchange traded funds, liquid alternatives, and institutional funds. The company was founded in 1832 and is headquartered in Toronto, Canada.
Historical context
All BNS earningsFinancial Services peers this season
Latest reports in the same sector
Latest beats and misses
Who reports nextBeat on EPS
- FCNCAFY2026 Q3 · October 23, 2026+19.9% EPS+8.2% move
- FCNCNFY2026 Q3 · October 23, 2026+19.9% EPS+0.2% move
- FCNCOFY2026 Q3 · October 23, 2026+19.9% EPS+1.0% move
- FCNCPFY2026 Q3 · October 23, 2026+19.9% EPS+1.0% move
- RDYFY2027 Q2 · October 23, 2026+24.0% EPS-0.2% move
- SLBFY2026 Q3 · October 23, 2026+3.7% EPS+7.1% move
Missed on EPS
- INFYFY2027 Q2 · October 23, 2026-4.8% EPS-6.6% move
- BBDFY2026 Q3 · October 22, 2026-7.7% EPS+3.0% move
- SNAFY2026 Q3 · October 22, 2026-5.9% EPS-3.4% move
- SPOTFY2026 Q3 · October 22, 2026-11.6% EPS+11.1% move
- VRSNFY2026 Q3 · October 22, 2026-2.0% EPS-0.9% move
- HBANMFY2026 Q3 · October 22, 2026-5.3% EPS+0.5% move
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2024-11-19T00:04:21.083458+00:00
- Polygon adjusted daily market bars · 2026-10-25T22:10:48.841790+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-25T22:10:48.839047+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-25. For educational purposes only; not investment advice.