Both banks revealed a rise in loan loss provisions in third-quarter earnings released on Tuesday and analysts are cautious of further credit risks ahead.
He has a 12-month price target of $64 on shares of Scotiabank and neutral rating on the stock, which is equivalent to a hold. Scotiabank’s shares were trading at $62 as of Tuesday morning. BMO’s earnings per share of $3.12 after adjusting for severance and legal provisions was below consensus of $3.14, but above our estimate at $3.08,” Holden wrote in a note to clients.
There are opportunities to cut front line staff as transactions turn digital, and a possibility to cut on the commercial corporate side, according to Mark McQueen, former president and chief executive officer at Wellington Financial LP.
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Bank earnings: Analyst picks top bank for the quarterWith Canada’s big six banks in the midst of reporting their latest quarterly results, one analyst suggests the top bank has already reported.
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Bank earnings: Money manager picks top bank for the quarterWith Canada’s big six banks in the midst of reporting their latest quarterly results, one analyst suggests the top bank has already reported.
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