Bank of Nova Scotia Split Message Board

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Gold/Mining/Energy : Bank of Nova Scotia Split

BNS 65.63

-0.1%

12:02 PM EST

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To: JAMES BORECKI who wrote (2)	4/20/1998 10:29:00 PM
From: Quattro	Read Replies (1) of 26

Hello everyone. Thanks for starting a thread on this one. This stock has certainly taken a beating in the last two trading sessions. Having watched the trading activity today, I saw support build at $40 and then jumped in. Maybe it was a little too early as it closed at $39.60 but I am hoping for some bounce on this. While the banks in general have been selling off heavily, I feel they are tremendous values. If you look at the price of BNS, it's only 13 times earnings. This makes it the cheapest of the majors. When you compare these multiples to other major corporations, you can't help but feel that there is still a lot of upside on the bank stocks, BNS in particular. While the dividends paid are modest at best, these earnings cannot be retained indefinitely. At some point the banks will increase their dividends and this will only enhance their stock value even more. As I previously stated, I'm long at $40 and looking for a good run. Quattro

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