Another Canadian Bank Hits Low Valuation Levels
Bank of Nova Scotia provides personal, commercial, corporate, and investment banking services in Canada and internationally through a network of 1,037 branches and 3,488 automated banking machines (ABMs). The International Banking segment offers retail and commercial banking services to customers in the Caribbean, Latin America, Central America, and Asia through a network of approximately 2,800 branches and offices, 6,833 ABMs. BNS was founded in 1832 and is headquartered in Toronto, Canada.
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BNS has a PE of 11.3X earnings and pays a 4.3% dividend. The market capitalization is $CAD 66 billion.
BNS currently earns about $4.95 per shares and is expected to earn about $6.09 by 2015.
Assuming a continuation of the current trend in earnings, the Purple Chips target is $CAD 65.00 in 12 to 18 months.
LOW VALUATION IN BANK OF NOVA SCOTIA AT $55.75 (BNS-T, $CAD 55.40) FULL POSITION
