8 Best Diversified Bank Stocks to Invest in Right Now

7. The Bank of Nova Scotia (NYSE:BNS)

Number of Hedge Fund Holders: 20

The Bank of Nova Scotia (NYSE:BNS) ranks among the best diversified bank stocks to invest in right now. On August 28, UBS maintained its Buy rating on The Bank of Nova Scotia (NYSE:BNS) and boosted its price target from C$88 to C$94 following the bank’s third-quarter earnings beat. Lower provision expenses and pre-tax pre-provision (PTPP) strength across a number of divisions, including Global Banking and Markets, International Banking, and Canadian Banking, fueled earnings growth.

In addition to raising its 2025 EPS forecast for The Bank of Nova Scotia (NYSE:BNS) from $6.85 to $7, UBS also raised its 2026 earnings per share estimate to $7.90 from $7.75. The new model includes lower forward-looking credit costs to reflect stronger consumer credit patterns over UBS’s previous prediction.

Additionally, UBS raised Scotiabank’s revenue outlook, citing modest gains in net interest income and more significant gains in noninterest income.

The Bank of Nova Scotia (NYSE:BNS), commonly referred to as Scotiabank, is a chartered bank in Canada that offers global banking and markets, global wealth management, and banking services.