The Globe and Mail reports in its Saturday, Feb. 23, edition that Bank of Nova Scotia ($75.38) reports earnings on Tuesday. The Globe's guest columnist Ted Dixon writes in the Who's Buying and Selling column that of the five major banks, the Scotiabank has the highest INK Edge ranking, which is based on value, insider commitment (buying and holdings) and price momentum.
While INK Edge outlooks are not a predictor for future profits, Mr. Dixon notes that Bank of Nova Scotia has been outperforming its peers over the past three months as of mid-February.
Meanwhile, three insiders have bet on the bank's future, spending a combined $612,793 buying shares in the public market in December. The Globe reported on Nov. 8, 2018, that Desjardins Securities analyst Doug Young continued to rate Scotiabank "buy." The shares were then worth $70.99. The Globe's Ian McGugan was bullish on Canadian banks on Nov. 20, 2018. Scotiabank shares could then be had for $70.76. The Globe reported on Feb. 23, 2019, that TriDelta manager Lorne Zeiler favoured Bank of Nova Scotia over all other Canadian banks. Scotiabank shares could then be had for $73.80.
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