Topic: How To Invest

The Successful Investor Hotline – Friday, May 31, 2019

Article Excerpt

BANK OF NOVA SCOTIA, $68.56, Toronto symbol BNS, has completed several acquisitions in the past few months. They include buying 68.19% of BBVA Chile for $2.2 billion U.S. BBVA is that South American country’s sixth-largest bank. In May 2018, Bank of Nova Scotia paid $950 million in stock for Jarislowsky Fraser. The Montreal wealth management firm caters to institutional investors and high-net-worth individuals. The bank has also recently completed its purchase of MD Financial Management, which sells wealth management services to Canadian medical doctors and their families. It paid $2.6 billion in cash for that privately held firm. If you exclude costs to integrate those new operations and other unusual items, Bank of Nova Scotia earned $2.26 billion in its fiscal 2019 second quarter, ended April 30, 2019. That’s up 3.3% from $2.19 billion a year earlier. The bank sold shares to help finance its acquisitions, so earnings per share fell 0.6%, to $1.70 from $1.71. That missed the consensus estimate of $1.74…

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