Shares of the Bank of Nova Scotia rose 4.92% on Tuesday following adjusted return on equity hitting 14.2%, surpassing the management’s medium-term target of 14% by 0.2 percentage point.
The fiscal Q3 beat was broad: fee income accelerated, every operating segment grew, and revenue expanded faster than costs. The price reaction has already pushed BNS above the average analyst target.
BNS versus U.S.-listed Canadian bank peers at the same Yahoo Finance market snapshot.
Peer average: +1.00%. BNS outperformance: 3.92 percentage points.
Fiscal Q3 2026 versus Q3 2025. Calculated from reported Canadian-dollar figures.
| Business | Q3 profit | YoY | Signal |
|---|---|---|---|
| Canadian Banking | C$1.07bn | +12% | 19.4% ROE |
| International Banking | C$766m | +8% | Broad growth |
| Global Wealth | C$518m | +23% | C$474bn AUM |
| Global Banking & Markets | C$647m | +37% | Largest gain |
Consensus: Hold from 14 analysts—2 Strong Buy, 2 Buy, 9 Hold, 1 Sell.
Current price is 1.27% above the average target. The range implies −17.3% to +17.4%.
| Market capitalization | $111.29bn |
| One-day value change, approximate | +$5.2bn |
| Quarterly shares repurchased | 8.6m |
| YTD dividends + buybacks | C$6.3bn |
| YTD total return | +24.35% |
| One-year total return | +60.46% |
Market data timestamp: August 25, 2026, 11:35:12 EDT. Market-value change is an estimate based on the quoted percentage move.
| Credit | PCL remains 3.7% above last year despite the sequential decline. |
| Valuation | The stock already trades above the average analyst target. |
| Execution | Expenses still rose 9.2%; positive leverage must persist. |
| Currency | Canadian-dollar earnings can translate unevenly for U.S. holders. |
Sources: Scotiabank Q3 releaseReutersYahoo FinanceAnalyst data. All monetary figures are Canadian dollars unless marked with a dollar-only U.S. share price.
BNS trades below the 15.88× median forward P/E of BMO, RY, TD and CM. The valuation is cheaper, but the average target still offers only 1.4% upside.
