Bank of Nova Scotia stock expands buyback to 40 million shares

Published on 10/06/2026 at 18:28 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Bank of Nova Scotia stock closed at CAD 128.74 on October 5 after a 40 million share buyback approval. Q3 revenue reached CAD 10.54 billion.

BNS, CA0641491075, Illustration mit AI erstellt.

Bank of Nova Scotia stock closed at CAD 128.74 on the Toronto Stock Exchange on October 5, 2026, down 0.92 percent on the session. The bank enters October 6 with approval to expand its normal course issuer bid to 40 million shares, giving the latest market move a concrete corporate backdrop.

Buyback capacity rises sharply

According to StockTitan, Scotiabank said on October 2, 2026, that regulators approved an increase in the maximum number of shares available for cancellation from 15 million to 40 million. The enlarged authorization represents 3.25 percent of the 1,231,433,660 common shares outstanding as of March 24, 2026, and became effective on October 6, 2026.

The comparison is material: the authorized capacity is 25 million shares higher than before. Scotiabank had already purchased 13,044,315 shares under the existing bid as of August 31, 2026, while the amended program permits daily purchases of 1,114,002 shares outside block purchase exceptions.

Q3 earnings set a high base

Scotiabank's third-quarter 2026 figures provide the operating context for the repurchase decision. Investing.com reports revenue of CAD 10.54 billion and earnings per share of CAD 2.28 for the quarter released on August 25, 2026.

The same report puts quarterly earnings above the CAD 9.97 billion revenue estimate and EPS above the CAD 2.08 forecast. Return on equity reached 14.2 percent in the quarter, while management highlighted a 14 percent medium-term level as a threshold rather than a ceiling.

Consensus stays near the stock

Analyst expectations point to limited distance from the October 5 close. Investing.com lists a Neutral consensus from 14 analysts, with an average 12-month price target of CAD 132.86, a high target of CAD 152 and a low target of CAD 109.

The average target lies 3.20 percent above the October 5 closing price. For investors, the buyback is therefore the immediate capital-return change, while the next earnings release will test whether the Q3 operating pace can continue.

Stock remains below yearly high

Bank of Nova Scotia stock closed at CAD 128.74 on October 5, 2026, with a 52-week range of CAD 88.22 to CAD 134.50 and a session volume of 4,620,000 shares. The stock was 4.28 percent below the yearly high at that close.