Bank Of Nova Scotia Stock (BNS) Plunge and Trade Alert for Dec 5 2014

Bank of Nova Scotia stock was hammered again today as the quarterly results showed a 17% decline in revenue over the same period last year.

Bank of Nova Scotia Stock has had it’s share of problems this fall. The bank already advised investors it was taking a big hit on its Caribbean and Latin American operations. Today the latest quarterly results also showed a decline in revenue of 17% among the worse performance of all the banks. Bank Of Nova Scotia earned $1.4 billion (all figures Canadian) versus $1.7 billion for the same quarter last year.

The Numbers

Canadian personal and commercial banking income was $483 million which was down from $555 million for the same quarter last years. While other banks are still showing strength in personal and commercial banking income, Bank Of Nova Scotia is experiencing a decline. As well net income attributable to equity holders at their international banking division, which spans Latin America and their growing presence in Asia, fell from $410 million to $265 million. On the bright side, global wealth and insurance profit rose slightly from $313 million to $327 million.

Prior BNS Stock Trades In Jeopardy?

I have 4 trades still open, one of which stretches back to August. Included in today’s trade alert is also the strategy I will be using going forward with the stock including how I will be handling the open 4 trades.

Bank Of Nova Scotia Stock (BNS) Trade Alert for Dec 5 2014

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