20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
- Bank of Nova Scotia (NYSE:BNS) reported Q2 FY23 adjusted EPS of C$1.70, which declined from C$2.18 a year ago. Adjusted EPS of $1.26 missed the Street view of $1.31.
- Revenue remained broadly flat Y/Y at C$7.93 billion, with net interest income at C$4.47 billion (flat Y/Y). Revenue of $5.865 billion missed the consensus of $5.99 billion.
- The bank witnessed double-digit Y/Y customer deposit growth in the quarter, which outpaced loan growth.
- Adjusted net income declined to C$2.17 billion from C$2.77 billion in the quarter.
- Canadian Banking's adjusted net income declined 10% Y/Y to C$1.06 billion owing to higher provisions for credit losses and non-interest expenses.
- International Banking's adjusted net income rose 6% Y/Y to C$650 million on higher revenues and favorable foreign exchange translations.
- Global Wealth Management's adjusted net income fell 13% Y/Y to C$359 million due to lower mutual fund fees and brokerage revenues.
- The provision for credit losses stood at C$709 million vs. C$219 million a year ago.
- Common Equity Tier 1 (CET1) capital ratio expanded around 80 basis points vs. the prior quarter to 12.3%.
- Adjusted return on equity stood at 12.4% vs. 16.4% the prior year.
- The Liquidity Coverage Ratio (LCR) stood at 131% at quarter end, compared to 122% in the prior period.
- In Q1 2023, BNS recognized an additional income tax expense of C$579 million, reflecting the present value of the amount payable for the Canada Recovery Dividend.
- Dividend: The company increased its quarterly dividend per share by C$0.03 to C$1.06, payable on July 27, 2023, to shareholders of record as of July 5, 2023.
- Price Action: BNS shares are trading lower by 1.52% at $48.44 on the last check Wednesday.
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
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