Aggressive acquisition streak hits Scotiabank’s stock price [Toronto Globe and Mail (Ontario, Canada)]
Bank Nova Scotia Halifax Pfd 3 Ordinary Shares (BNS)
Last bank nova scotia halifax pfd 3 ordinary shares earnings: 2/25 05:30 am
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Source: Toronto Globe and Mail
After a stunning run of acquisitions, Bank of Nova Scotia is feeling the heat. Shares of Canada’s third-largest lender are suffering relative to rival Big Six banks, and the pressure is on management to prove its recent spate of deals was worth it. In the past 10 months, Scotiabank has spent nearly $7-billion on acquisitions, including $2.6-billion on its purchase of asset manager MD Financial in May and nearly $1-billion for storied money manager Jarislowsky Fraser in February. As Scotiabank acquired, its stock has struggled. Over the past year, shares of Canada’s Big Six banks have delivered an average return of 14 per cent, while Scotiabank’s stock is down 2.7 per cent. Story continues below advertisement This underperformance can be traced back to multiple issues. North American free-trade agreement negotiations weigh on Scotiabank more than its rivals because it has a large Mexican operation. Investors' recent fears about emerging market
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