1 Magnificent High-Yield Bank Stock Stock Down 25% to Buy and Hold Forever

Bank of Nova Scotia (BNS -1.06%), often just called Scotiabank, isn't particularly well known in the U.S., where it has only a minimal presence. This is one of the key reasons the giant Canadian bank's stock is down roughly 25% from its 2022 high-water mark. But management of the Toronto-based bank is looking to change things, and now is a good time to add this bank if you are looking to maximize the passive income your portfolio generates.One big thing to like about Bank of Nova ScotiaThe S&P 500 index (^G ...