Highlights

  • Bank of Nova Scotia closed near C$98 on December 02, 2025, following its Q4 earnings beat.
  • Shares remain just below the C$99–C$100 52-week high range.
  • BNS has gained about 26–27% over the past year after a challenging 2023–2024 period.

Bank of Nova Scotia (TSX:BNS; NYSE:BNS) entered the spotlight on December 02, 2025, after reporting better-than-expected fourth-quarter earnings. The stock ended the session around C$98 per share. Intraday trading moved between approximately C$96 and C$99. The level kept the stock just below its 52-week high, estimated near C$99 to C$100.

The performance extended a notable rebound for the bank. Over the past 12 months, BNS has recorded a gain of roughly 26–27%. This placed it ahead of many major global banks and marked a turnaround following weaker performance through 2023 and 2024. On the New York Stock Exchange, the U.S. listing traded near US$70, which aligns closely with the Toronto price when adjusted for currency.

Market Context

As of December 02, 2025, BNS trades at a trailing price-to-earnings ratio of about 18x. The stock’s 52-week range shows a floor near C$62.50 and recent highs above C$99. The movement illustrates how far shares have climbed from last year’s lows.

The current valuation reflects a re-rating driven by earnings stability and improving sentiment toward Canadian financials. With much of the rebound already captured, attention has shifted to the sustainability of the bank’s latest operating results.

Earnings Beat Adds Momentum

The bank’s fourth-quarter numbers delivered a positive surprise. The improvement helped lift shares toward the upper end of their annual range. The results also fueled renewed discussion on whether there is further room for appreciation or whether recent gains have already incorporated most of the favourable developments.

Sector-wide dynamics remain a factor. Canadian banks have benefited from calmer credit conditions and clearer visibility on capital requirements. However, market observers continue to monitor macro pressures, including loan growth trends and deposit activity.