The company's struggles are well known. It is the worst performing major bank in the country by a wide margin and it likely needs to step back ,refocus and get back on track.
Growth has lagged the other banks for 5+ years now, and I'd view it as a yield trap inside of the other Big 6 banks. Many will buy BNS simply because it has the highest yield. However, I believe the 5 other banks to be higher quality.
Heading into a potential multi-year recession with a new CEO is likely causing the market to become more bearish on the company as well.
Bank of Nova Scotia has a chance to turn things around here. But if I were to make a decision right now on what bank to buy heading into the market and economic volatility we're expected to, I wouldn't be choosing the turnaround story. I believe the market shares these same thoughts.