5 Undervalued Canadian Stocks to Buy Now

4. The Bank of Nova Scotia (NYSE:BNS)

PE Ratio: 9.09 

The Bank of Nova Scotia (NYSE:BNS) is a Canadian banking firm. Some of the services it provides include debit and credit cards, chequing and saving accounts, investments, mortgages, loans, and insurance, as well as cash management and trade finance solutions. The firm operates in a range of countries like the United States, Mexico, Peru, Chile, and Colombia. It was founded in 1832 and employs over 90,000 people across the world. It is headquartered in the Halifax region of Nova Scotia. 

The Bank of Nova Scotia (NYSE:BNS) stock has climbed in the past week as the Canadian government tries to rein in inflation through aggressive rate hikes. On July 13, the central bank in Canada raised the policy rate by 100 basis points. 

On May 25, The Bank of Nova Scotia (NYSE:BNS) posted earnings for the second fiscal quarter, reporting earnings per share of C$2.18, beating estimates by C$0.22. The revenue over the period was C$7.9 billion, up over 2% year-on-year.