|Bid||0.00 x 800|
|Ask||55.00 x 800|
|Day's range||38.51 - 41.01|
|52-week range||31.94 - 58.22|
|Beta (5Y monthly)||1.08|
|PE ratio (TTM)||7.92|
|Earnings date||05 Feb 2017 - 09 Feb 2017|
|Forward dividend & yield||2.71 (6.67%)|
|Ex-dividend date||05 Apr 2020|
|1y target est||72.27|
(Bloomberg) -- Toronto-Dominion Bank priced the largest covered bond on record from a Canadian lender on Friday, days after the country’s central bank widened the range of securities it takes as guarantee for repurchase transactions. Bank of Nova Scotia followed with a similar deal Monday.TD, the country’s second-largest bank by assets, issued C$10 billion ($6.9 billion) of floating-rate covered bonds maturing in 1.5 and 3 years, according to data compiled by Bloomberg. Bank of Nova Scotia priced C$.5.5 billion of 2-year fixed-rate and 3-year floating-rate covered bonds, the data show.The Bank of Canada said March 18 it is starting to allow participants in its term repo operations -- mostly banks -- to pledge their own covered bonds at collateral for such transactions. The change is part of a wide range of measures announced in recent weeks to shore up the country’s financial markets.“TD notes the Bank of Canada recently expanded its eligible collateral to include own-name covered bonds, among other assets,” TD spokeswoman Julie Bellissimo said in an e-mailed statement.Scotiabank’s covered bonds will be used by the lender to buffer its central-bank eligible collateral, a person familiar with the matter said.TD’s C$5 billion portion of 18-month floating-rate covered bonds were priced to yield 200 basis points over 1-month CDOR, and the 3-year floater floater was priced at a spread of 170 basis points. Scotiabank’s C$2.75 billion of notes due 2022 were priced at 185 basis points over similar-maturity government debt. The 2023 floating-rate notes were priced at a spread of 165 basis points over 3-month CDOR.TD’s covered bonds are the largest of their kind from a Canadian bank, according to Bloomberg records going back to 2007.(Updates with Scotiabank transaction beginning in first paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Lucia, a sex trafficking survivor, flashed her new debit card and ran her finger along her name embossed on the plastic. "If I look at my card I am very happy, like my ID, I have my name there," Lucia - whose name has been changed to protect her identity - told the Thomson Reuters Foundation in a busy cafe in an east London shopping centre.
Bank of Nova Scotia (BNS) delivered earnings and revenue surprises of 2.99% and -1.48%, respectively, for the quarter ended January 2020. Do the numbers hold clues to what lies ahead for the stock?
(Bloomberg) -- Canada’s homegrown tech company Shopify Inc. is on a tear.After surging annually since its 2015 initial public offering, it has rallied 36% to a market value of almost C$82 billion ($62 billion) in 2020, making it the seventh largest company on the S&P/TSX Composite Index. That puts it about C$8 billion away from usurping Bank of Nova Scotia -- the fifth biggest company. Canadian National Railway Co. -- is No. 6 on the benchmark.Shopify’s value has climbed about C$7.9 billion just this week as fourth-quarter revenue topped analysts’ estimates and the provider of online shopping tools gave an optimistic forecast for the year.Shares of Shopify have skyrocketed to fresh records amid a dearth of quality tech companies on the S&P/TSX Composite Index. The benchmark tech gauge has a mere 10 members compared with over 71 on the S&P 500’s tech index, which includes FAANG giants such as Facebook Inc., Amazon.com Inc., Apple Inc., Netflix Inc. and Google parent Alphabet Inc.Still, Shopify’s meteoric rise has some analysts calling for caution. Credit Suisse analyst Brad Zelnick downgraded the stock to the equivalent of a hold on its “lofty valuation” but raised his share price target for the U.S.-listed stock to $575 from $450. He did, however, contend that company has a “great business.” The stock is currently sitting at about $527.Markets -- Just The NumbersChart of The WeekPoliticsPrime Minister Justin Trudeau said the government will do everything it can to resolve protests that have crippled parts of the country’s railways, leading to disruptions in passenger travel and the shipment of key goods. RBC Capital Markets said the demonstrations are another reason the Bank of Canada will be “biased to ease.”Get the latest news on the pipeline protests hereThe coronavirus continues to spread within China. Finance Minister Bill Morneau said that the epidemic will take a “real” toll on Canada’s economy given it’s global knock-on effects. Reduced tourism from China and lower commodity prices will also impact Canada’s growth.EconomyA new survey showed that Canadians are growing increasingly confident of getting a job with better pay were they to leave their current workplace, another indication of the health of the nation’s labor market as the unemployment rate sits at historic lows and wages climb near the fastest pace since the recession.The housing market in major Canadian cities continued to tighten as home sales fell and prices rose in January. A combination of steady population growth, low unemployment and cheap borrowing costs have brought buyers into the market but shrinking supply is damping transactions and driving bids for homes higher in places like Toronto.Up next, economists will be watching manufacturing sales figures on Feb. 18, inflation data due Feb. 19 and retail sales expected on Feb. 21. The stock market is closed on Monday for a holiday in Ontario and some other provinces.TrendingInCanada1\. Former Mississauga Mayor Hazel McCallion, also known as “Hurricane Hazel” turned 99 with NHL’s Maple Leafs team celebrating her birthday. She was in office for 12 terms before stepping back in 2014.2\. An extreme cold warning alert was issued for the city of Toronto Friday as temperatures dip below 30 degrees Celsius (that’s -22 degrees Farenheit).\--With assistance from Shelly Hagan.To contact the reporter on this story: Divya Balji in Toronto at email@example.comTo contact the editors responsible for this story: Kyung Bok Cho at firstname.lastname@example.org, Jacqueline Thorpe, Danielle BochoveFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Dividend paying stocks like The Bank of Nova Scotia (TSE:BNS) tend to be popular with investors, and for good reason...
Toronto-Dominion Bank (TD) fourth-quarter fiscal 2019 results reflect higher revenues, partly offset by rising expenses and higher provisions.
When you buy and hold a stock for the long term, you definitely want it to provide a positive return. But more than...
Analysts expressed concerns about the bank's international business, whose adjusted earnings growth of 4.3% missed expectations amid geopolitical concerns in some markets, despite outpacing Canada's more staid 1.2% increase. The international unit, which accounts for a little over a third of Scotiabank's adjusted earnings, also posted a 9 basis-point drop in net interest margins, compared with a 2 basis-point rise in Canada.
Bank of Nova Scotia (BNS) delivered earnings and revenue surprises of 0.00% and 0.15%, respectively, for the quarter ended October 2019. Do the numbers hold clues to what lies ahead for the stock?
Bank of Nova Scotia (BNS) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
It is not uncommon to see companies perform well in the years after insiders buy shares. On the other hand, we'd be...