Bank of Nova Scotia stock gets a larger buyback program

Published on 10/05/2026 at 18:19 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Bank of Nova Scotia stock follows Q3 net income of CAD 2.78 billion, up 21 percent year over year. The buyback ceiling rises from 15 million to 40 million shares effective October 6.

BNS, CA0641491075, Illustration mit AI erstellt.

Bank of Nova Scotia stock stood at CAD 129.93 on the Toronto Stock Exchange at the October 2, 2026 close, while the bank's approved repurchase ceiling rose from 15 million to 40 million shares. The amendment takes effect October 6, 2026, giving the latest corporate action a clear date for shareholders.

Buyback capacity reaches 40 million

According to Financial Times on October 2, 2026, the Toronto Stock Exchange and the Office of the Superintendent of Financial Institutions approved the increase. The expanded limit represents 3.25 percent of 1,231,433,660 common shares outstanding as of March 24, 2026.

The same release said Scotiabank had already purchased 13,044,315 shares by August 31, 2026. The repurchased shares are cancelled, so the program changes both the potential scale of future buying and the share count over time.

Q3 profit reached CAD 2.78 billion

Investing.com reports that third-quarter 2026 net income reached CAD 2.78 billion and diluted earnings per share were CAD 2.28, compared with CAD 2.08 expected. Return on equity reached 14.2 percent in the quarter, while revenue came in at CAD 10.54 billion.

The quarterly result supplies a second measure for the buyback story: the capital action arrived after a period of elevated profitability rather than after a weak reporting update. Investing.com also described a 14 percent year-over-year increase in expenses and a one-time Chile tax write-down as factors that investors must weigh against the profit result.

Analyst target sits near the TSX price

The analyst consensus published by Investing.com comprises 14 analysts and carries a Neutral rating. Its average 12-month target is CAD 132.86, which is 2.25 percent above the October 2 price of CAD 129.93; the consensus therefore points to a narrow gap rather than a broad valuation discount.

The same analyst table lists RBC Capital at Hold with a CAD 129.00 target on August 27, 2026, while Keefe, Bruyette and Woods carries a Buy rating and CAD 152.00 target dated August 26, 2026. The spread shows why the aggregate Neutral label matters: individual views range from capital preservation to materially higher valuation.

BNS stays below its yearly high

At CAD 129.93, BNS remained CAD 4.57 below its 52-week high of CAD 134.50 and CAD 41.71 above its 52-week low of CAD 88.22 on October 2, 2026. The stock's market capitalization was CAD 158.1 billion on that date, placing the buyback decision against an already substantial equity base.

Bank of Nova Scotia will report its next earnings on December 2, 2026, according to Investing.com. For investors, the next checkpoint is whether the bank converts its stronger quarterly earnings into sustained returns while the enlarged repurchase authorization becomes active.