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Scotiabank (BNS, $73.26) beats fiscal Q1 earnings expectations
The Bank of Nova Scotia (operating under the name Scotiabank ) reported its first quarter 2022 earnings that surpassed analysts’ expectations.
The banking behemoth’s adjusted earnings came in at C$2.15 a share in the quarter, beating analysts’ expectations of $2.05. The figure is also higher than year-ago quarter’s $1.88.
The Canadian banking segment adjusted earnings climbed +32% year-over-year, to C$1.2 billion, on the back of solid loan and mortgage growth.
International banking business experienced a +38% growth in its adjusted earnings to C$552 million, on strong demand for mortgage and commercial loans growth.
The global wealth management and global banking and markets division’s earnings grew from the year-ago quarter to C$419 million and $561 million, respectively.
BNS in -0.76% downward trend, sliding for three consecutive days on May 12, 2022
Moving lower for three straight days is viewed as a bearish sign. Keep an eye on this stock for future declines. Considering data from situations where BNS declined for three days, in 130 of 278 cases, the price declined further within the following month. The odds of a continued downward trend are 47%.
Current price $63.41 crossed the resistance line at $72.97 and is trading between $72.97 resistance and $57.97 resistance lines. Throughout the month of 04/13/22 - 05/16/22, the price experienced a -7% Downtrend, while the week of 05/09/22 - 05/16/22 shows a +1% Uptrend.
The Aroon Indicator for BNS entered a downward trend on May 16, 2022. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
The RSI Oscillator points to a transition from a downward trend to an upward trend -- in cases where BNS's RSI Oscillator exited the oversold zone, 11 of 27 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 41%.
The Stochastic Indicator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. 26 of 52 cases where BNS's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 50%.
The Moving Average Convergence Divergence (MACD) for BNS just turned positive on May 16, 2022. Looking at past instances where BNS's MACD turned positive, the stock continued to rise in 18 of 45 cases over the following month. The odds of a continued upward trend are 40%.
Following a +2.84% 3-day Advance, the price is estimated to grow further. Considering data from situations where BNS advanced for three days, in 127 of 333 cases, the price rose further within the following month. The odds of a continued upward trend are 38%.
BNS may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
Tickeron has a negative outlook on this ticker and predicts a further decline by more than 4.00% within the next month with a likelihood of 69%. During the last month, the daily ratio of advancing to declining volumes was 1 to 1.83.
The Tickeron Profit vs. Risk Rating rating for this company is 79 (best 1 - 100 worst), indicating that the returns do not compensate for the risks. BNS’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 81, placing this stock better than average.
The Tickeron Price Growth Rating for this company is 73 (best 1 - 100 worst), indicating slightly worse than average price growth. BNS’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Valuation Rating of 62 (best 1 - 100 worst) indicates that the company is fair valued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (1.484) is normal, around the industry mean (0.974). P/E Ratio (10.215) is within average values for comparable stocks, (18.052). Projected Growth (PEG Ratio) (2.537) is also within normal values, averaging (2.137). Dividend Yield (0.048) settles around the average of (0.052) among similar stocks. P/S Ratio (3.233) is also within normal values, averaging (2.603).
The Tickeron PE Growth Rating for this company is 61 (best 1 - 100 worst), pointing to average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Seasonality Score of 50 (best 1 - 100 worst) indicates that the company is fair valued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
The Tickeron SMR rating for this company is 2 (best 1 - 100 worst), indicating very strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
Major banks are among the biggest companies in the world, often times with global reach and market capitalizations in the multi-billions. Large banks often have multiple arms spanning different disciplines, from deposits, to investment banking, to wealth management and insurance. The biggest banks often have key competitive advantages over smaller players in the industry in terms of brand recognition, cost of capital, and efficiency. Think J.P. Morgan, Bank of America, Wells Fargo, and Citigroup.
The average market capitalization across the Major Banks Industry is 74.3B. The market cap for tickers in the group ranges from 191.4M to 349.8B. JPM holds the highest valuation in this group at 349.8B. The lowest valued company is MSL at 191.4M.
The average weekly price growth across all stocks in the Major Banks Industry was 0.3%. For the same Industry, the average monthly price growth was -4.96%, and the average quarterly price growth was -6.91%. INGVF experienced the highest price growth at 9.33%, while BNDSY experienced the biggest fall at -12.99%.
The average weekly volume growth across all stocks in the Major Banks Industry was -71.11%. For the same stocks of the Industry, the average monthly volume growth was -74.54% and the average quarterly volume growth was -36.39%
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
Stocks in the group have a Negative Outlook today, backed by the MA200MA50 Indicator. Tickeron has a negative outlook on this group and predicts a further decline by more than 4.00% within the next month with a likelihood of 63%. During the last month, the daily ratio of advancing to declining volumes was 1 to 1.53.
13 stocks in the group of tickers exhibit a similar negative trend based on the 15 indicator with an average likelihood of 64%.
The most notable companies in this group are JPMorgan Chase & Co (NYSE:JPM), Bank of America Corp (NYSE:BAC), Wells Fargo & Co (NYSE:WFC), HSBC Holdings PLC (NYSE:HSBC), Citigroup (NYSE:C), Barclays PLC (NYSE:BCS).
The average market capitalization across the group is 84.1B. The market cap for tickers in the group ranges from 1.5B to 349.8B. JPM holds the highest valuation in this group at 349.8B. The lowest valued company is NTB at 1.5B.
- 5/14/22 4:22 AM: Bank of China (BACHF, $0.38), market cap jumped by $20.8B
- 5/11/22 7:46 AM: Agricultural Bank of China (ACGBF, $0.36), market cap jumped by $34.3B
- 5/3/22 8:18 AM: Industrial and Commercial Bank of China (IDCBF, $0.57), market cap jumped by $42.5B
The average weekly price growth across all stocks in the group was 0.5%. For the same group, the average monthly price growth was -6.71%, and the average quarterly price growth was -9.03%. BBVXF experienced the highest price growth at 8.48%, while BNDSY experienced the biggest fall at -12.99%.
- 5/14/22 4:23 AM: ING Groep (ING, $9.7) was a top weekly gainer, with a +6.01% jump
- 5/12/22 5:38 AM: Mitsubishi UFJ Financial Group (MUFG, $5.59) was a top loser this week, declining -7.14%. Expect a Downtrend reversal
- 5/11/22 7:46 AM: Svenska Handelsbanken (SVNLY, $4.7) was a top loser this week, declining -6.56%. Expect a Downtrend reversal
The average weekly volume growth across all stocks in the group was 15.75%. For the same stocks of the group, the average monthly volume growth was 1122.65% and the average quarterly volume growth was 352.28%
- 5/13/22 4:49 AM: The volume for Toronto Dominion Bank stock increased for a consecutive 5 days, with an average daily gain of 104%
- 5/12/22 5:32 AM: The volume for Toronto Dominion Bank stock increased for a consecutive 5 days, with an average daily gain of 105%
- 5/11/22 7:40 AM: The volume for Svenska Handelsbanken stock increased for one day, resulting in a record-breaking daily growth of 340% of the 65-Day Volume Moving Average
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
The most notable companies in this group are JPMorgan Chase & Co (NYSE:JPM), Bank of America Corp (NYSE:BAC), Wells Fargo & Co (NYSE:WFC), HSBC Holdings PLC (NYSE:HSBC), Citigroup (NYSE:C), Barclays PLC (NYSE:BCS).
Major banks are among the biggest companies in the world, often times with global reach and market capitalizations in the multi-billions. Large banks often have multiple arms spanning different disciplines, from deposits, to investment banking, to wealth management and insurance. The biggest banks often have key competitive advantages over smaller players in the industry in terms of brand recognition, cost of capital, and efficiency. Think J.P. Morgan, Bank of America, Wells Fargo, and Citigroup.
The average market capitalization across the Major Banks Industry is 74.3B. The market cap for tickers in the group ranges from 191.4M to 349.8B. JPM holds the highest valuation in this group at 349.8B. The lowest valued company is MSL at 191.4M.
- 5/14/22 4:22 AM: Bank of China (BACHF, $0.38), market cap jumped by $20.8B
- 5/11/22 7:46 AM: Agricultural Bank of China (ACGBF, $0.36), market cap jumped by $34.3B
- 5/3/22 8:18 AM: Industrial and Commercial Bank of China (IDCBF, $0.57), market cap jumped by $42.5B
The average weekly price growth across all stocks in the Major Banks Industry was 0.3%. For the same Industry, the average monthly price growth was -4.96%, and the average quarterly price growth was -6.91%. INGVF experienced the highest price growth at 9.33%, while BNDSY experienced the biggest fall at -12.99%.
- 5/14/22 4:23 AM: ING Groep (ING, $9.7) was a top weekly gainer, with a +6.01% jump
- 5/12/22 5:38 AM: Mitsubishi UFJ Financial Group (MUFG, $5.59) was a top loser this week, declining -7.14%. Expect a Downtrend reversal
- 5/11/22 7:46 AM: Svenska Handelsbanken (SVNLY, $4.7) was a top loser this week, declining -6.56%. Expect a Downtrend reversal
The average weekly volume growth across all stocks in the Major Banks Industry was -71.11%. For the same stocks of the Industry, the average monthly volume growth was -74.54% and the average quarterly volume growth was -36.39%
- 5/13/22 4:49 AM: The volume for Toronto Dominion Bank stock increased for a consecutive 5 days, with an average daily gain of 104%
- 5/12/22 5:32 AM: The volume for Toronto Dominion Bank stock increased for a consecutive 5 days, with an average daily gain of 105%
- 5/11/22 7:40 AM: The volume for Svenska Handelsbanken stock increased for one day, resulting in a record-breaking daily growth of 340% of the 65-Day Volume Moving Average
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
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