STOCKCHASE

Not worried about this one or any of the Canadian banks but feels that bank valuations are going to have a hard time rising from here. Earnings growth is slowing down. Banks can't expand at the rate they did a couple of years ago.

2012-02-06

HOLD

58.660

Has been the laggard at raising their dividend. Thinks it will increase in 2012. It is almost a utility.

2012-01-12

BUY

54.700

Why is this bank so unfavourable to its peers? This bank had a number of catastrophes with people making ill-advised speculations, digitally on natural gas. Since then, they have done a great job but the stock has behaved quite badly. People have found the latest quarter wanting and feels they have taken the stock down way too much.

2011-12-16

DON'T BUY

56.660

Colin Stewart

Why would you buy a GIC with a low interest rate, when you can get this one at 5%? 2 different things. GIC's are guaranteed by the government. This one is an equity and you own a small piece of the company. The equity can go up and down and you might get a downturn in the equity of 15%. Not a fan of the banking business today.

2011-12-09

Comment

57.150

Recently disappointed in earnings. Always finds their strategy a little bit muddled and didn’t like what was going on in Harrison in the US. Stock dropped so the dividend is now over 4%.

2011-12-07

DON'T BUY

55.490

Over the last month, all banks have been hit pretty hard. Have a big presence in Chicago area and are expanding it with a recent acquisition. There has always been a question of when shareholders are going to see real benefits from return on capital. Doesn't feel its valuation is compelling. (See Top Picks.)

2011-11-25

Comment

57.600

Jim Huang

Cdn banks have been solid during the rough sea of global banking. Overall he is expecting a 5%-6% growth with a slow and steady dividend growth. Good place for a long-term conservative investor but don't expect a lot of upside in the short term. This bank is reasonably valued here.

2011-11-14

BUY

58.700

Rick Stuchberry

Doesn't see any risk in the 4.8% dividend. Earnings are solid.

2011-11-03

DON'T BUY

57.410

Lorne Steinberg

Got into trouble during financial crisis. Would not be a buyer here.

2011-11-01

TOP PICK

59.730

Steve Carlin

Has been out of favour in recent years. This is the only bank that has not raised the 4.8% dividend since the recovery. Thinks there is a very good chance of a rise in the next 6-9 months. Thinks it can grow its earnings by 10%. Loan growth possible. Total rate of return in the 15-16% range.

2011-10-26

BUY

58.750

Christine Poole

One of the higher yield in the group. Nearly 4.8%. Increased presence in US will give them more scale. Tends to trade at a lower valuation.

2011-10-12

PAST TOP PICK

56.930

(A Top Pick Oct 12/10. Up 0.03%.)

2011-10-04

DON'T BUY

57.150

Ron Meisels

Probability of it breaking down through $54 is very high. The stock has been holding support all through 2010-2011 and is now starting to break below support. Banks have not been doing well. Could go significantly lower.

2011-10-03

Comment

58.940

Gavin Graham

All Canadian banks stand to be affected in the event of a Greek default but direct exposure to Canadian banks is minimal. If you are going to be in any banks in the developed world, Canadian banks are the ones to be in .

2011-09-29

DON'T BUY

58.590

Barry Schwartz

Not too excited about this bank. Looks reasonable but doesn't think they are planning to raise the dividend this year. Payout ratio is quite high compared to the other banks. Also, too much exposure to the US. (See Top Picks.)

2011-09-14

BUY

59.630

Of the 4 or 5 sub segments within large-cap financials, banks would be the area where he would be happiest. Reasonably priced. Shouldn't be difficult for them to get to the last peak of $70-$72 range in the next 12 months. 4.7% yield.

2011-09-08

Comment

60.000

Preferreds. Decent yield but it's fixed so it won't go up. High quality company.

2011-08-29

DON'T BUY

57.350

Chyanne Fickes

Not going to increase its dividend. Being pretty aggressive in the US, which concerns her. Not one of the better banks at this time.

2011-08-22

HOLD

57.350

If you are buying banks at this level for the yield, which is higher than what do we get on bonds, that is fine. Earnings growth will be a little bit slower.

2011-08-19

BUY

60.240

Prefers National Bank. Canadian Western bank gives you more growth.

2011-08-17

Comment

59.580

Don Lato

Likes the Cdn banks, which sold off more than they should have. Has never climbed back to its old highs like it's peers. Very solid dividend.

2011-08-15

Comment

59.580

Fears have caused a flood to bonds and away from equities of all kinds. Thinks banks are undervalued. You will see mid-single digit solid growth for earnings and dividend increases. You can buy almost any bank stock and get a higher yield than a 5 year bond.

2011-08-15

Comment

61.380

Norman Levine

Just made a big move into the US. Long-term it will probably prove to be a good move. In the near-term, the outlook for US banking is not great. Stock will probably under perform in the near-term.

2011-07-27

TOP PICK

61.590

The acquisition in the US will be good for them. The banks have to struggle with what to do with their cash flow. They have to diversify internationally. The question is if they can integrate the acquisition completely in the next couple of years. Descent yield and expects rise in dividend in 2012. He doesn’t mind the wait for the acquisition to be accretive.

2011-07-21

Comment

60.540

Mike S. Newton, CIM FCSI

Wouldn't rush in to buy this one right now. If you own, consider diversifying into other banks.

2011-07-19

WAIT

61.160

Laura Wallace

A bit premature for this one. Wait until you see how their latest acquisition has done. Execution will be critical to its valuation.

2011-07-15

TOP PICK

59.690

Richard Croft

Because we are in a very slow period in the market and probably in a trading range and looking for dividend stocks, this one happens to be the highest yielding bank stock currently. Pretty good dividend yield.

2011-06-24

WEAK BUY

60.200

Paul Harris, CFA

4.67% dividend, sustainable. One of the largest yielding stocks in the banking index in Canada. A well-run bank. They haven’t established a strong brand in the US. They could have been more aggressive. For this reason he doesn’t like them as much as other Canadian banks. They are fairly valued.

2011-06-23

DON'T BUY

60.880

Now that they have acquired this new bank, when are beleaguered investors going to see great returns coming from these markets? Dividends should be secure. This bank is not attractive to him in spite of its fairly high yield.

2011-06-20

DON'T BUY

60.290

David Baskin

Greece situation shouldn’t affect Canadian banks at all very much except for general contagion. Never liked this bank that much. Always considered it to be in the bottom tier of Cdn banks.

2011-06-16

HOLD

61.090

His least favourite of the big five. Always had trouble with the strategy of buying Harris in the US. More recent US acquisition seems to be ok but he is just watching it.

2011-05-10

Comment

63.670

Gavin Graham

Just made a big acquisition of a US company, Marshall & Ilsley Corp, which is pretty sound and conservatively run. As long as they can run it effectively it will help make the US mid-west a bigger part of it. They are growing their asset management business, they have the EGF (?) initiative and are earning their way into being able to raise the dividend.

2011-04-04

HOLD

62.920

Andrew McCreath

Rock solid blue chip company with stable dividend that will probably grow over time. But his favourite is the Royal. Their US investment will probably hold them back. It will work out in the long-term. The banks take turns under and out performing each other.

2011-03-30

WAIT

62.140

Lorne Steinberg

Canadian banks in the best shape of any banking system in the world. BMO is not in as good shape as the others. But dividend is secure. None of the banks are really cheap. We are looking at the Canadian economy to slow down a bit from here. There will probably be a better buying opportunity.

2011-03-25

HOLD

61.980

One of his favorites. One of the cheapest banks excluding the commerce. He is not going to sell the stock because people are going to say to them ‘show me’ that they can make an acquisition. He would buy some for new accounts.

2011-03-14

HOLD

60.930

Don Lato

Likes banks as a group and prefers TD and RY. The group tends to move generally together. Could be better to hold but would prefer TD at these levels.

2011-02-22

HOLD

59.640

Steve Carlin

Likes story longer term. US acquisition they made late last year will be a little bit of an overhang for the stock because 1) have to raise some equity to pay for it and 2) how well they can integrate it into their US business model.

2011-02-10

HOLD

59.500

Rick Stuchberry

Canadian banks will usually run as a pack but this one is usually in the back space. It has a very safe dividend. This one has some work to do before it looks ready to move up.

2011-02-07

DON'T BUY

57.840

On a technical call, he is wary of both Bank of Montreal (BMO-T) and Royal (RY-T), the Royal in particular.

2011-01-28

BUY

59.310

One of his favourite bank stocks. Cheaper than Toronto Dominion (TD-T) and Royal (RY-T), which he also owns. Recent US acquisition was well timed but their will be a few operating difficulties in the future such as will they keep some of the more regional; branches.

2011-01-27

BUY

59.290

Laura Wallace

Fell off more than 8% on the announcement of their US acquisition. Has been a bit of a laggard versus its peers. Offers reasonable value here.

2011-01-20

BUY

58.230

Michael Smedley

They have been in the US since 1984 so they should know what to do with their recent US acquisition. No point raising the dividend since it is the highest one on the street.

2011-01-07

DON'T BUY

58.200

His fifth favourite of the big ones. They made an interesting purchase in December. A good geographical fit but there is not material upside for the first 3 years because of the price they paid.

2011-01-06

HOLD

56.600

Christine Poole

Reacted negatively to the acquisition of Marshall & Ilsley in the US. Acquisition will double their exposure in terms of lending and deposit. Paid a reasonable price of 1X of tangible Book but if you factor in the loan payback to the US government and writing down loan books, it becomes about 1.7X tangible Book.

2010-12-20

WATCH

56.600

Bill Carrigan

Bought a regional US bank that the market didn’t like so you have a torpedo. Bad thing about torpedoes is that they catch you by surprise and you have no defense. The good thing is that usually the market punishes the stock only once.

2010-12-20

BUY

61.220

This bank tends to have the highest yield. Have gone a long way to straightening out some of the problems they were having in the last 1.5 years.

2010-12-01

Comment

60.260

Paul Harris, CFA

Canadian banks are fairly valued at these levels. Management has done a very good job of turning the bank around. If you want more upside, he would suggest a US bank. His preference in Cdn banks would be TD (TD-T) or Royal (RY-T).

2010-11-25

HOLD

60.250

Mike Lyons CA, CFA

Canadian banks made it through the financial crisis in much better shape than the rest of the world. Has 1.7% (half) holding. Has been sitting on the sidelines. It is still a period of uncertainty. If there is a problem it will be in credit quality of assets.

2010-11-03

BUY

61.680

Nick Majendie

Likes longer-term outlook very much. Target of 10% earnings annually is achievable. With 4.6% dividend yield, you're looking at handsome double-digit returns.

2010-10-26

Comment

61.570

Expect all banks will grow dividends. Because of current payouts, this one will probably be slower than Toronto Dominion (TD-T), National (NA-T) or Royal (RY-T). Haven't increased dividends in the last few years so will probably play catch-up now.

2010-10-25

TOP PICK

59.840

For income oriented accounts and being defensive, this is a pretty good total rate of return. Is impressed with decline in loan loss provisions, tightening up of cost structure and capital market activities.

2010-10-12

DON'T BUY

59.320

A number of banks reported misses last quarter and this one was particularly big. The collapse and trading revenues was significant. US banks were lagging to a great extent. (See Top Picks.)

2010-09-22

BUY

59.680

Looking for the dividends to go up so you could buy the banks at this time.

2010-09-21

Comment

60.890

He is light on the financial sector right now. He thinks the new rules on capital are going to require them to hold more capital and that will slow down their growth and reduce their earnings. Finds there are other things more attractive to buy.

2010-09-09

DON'T BUY

62.570

(Market Call Minute.) Not his favourite bank at the moment.

2010-07-28

Comment

61.460

Michael Decter

Likes Canadian banks and feels the dividends are safe. May take a bit of time before they increase dividends again. The premium banks are Toronto Dominion (TD-T) and Royal (RY-T), which carry a premium multiple, so this will give you a bit better dividend. Doesn't see another leg up in the short-term but in the medium-longer term it is fine.

2010-07-19

DON'T BUY

58.550

David Baskin

Have not had great management and Harris group has not been a tremendous asset for them.

2010-07-06

Comment

63.070

David Burrows

If he were going to pick a bank, this is probably the one. Behaving very well. Nice yield of 4.4%. Recent numbers were very good. His only concern is that many investors are expecting near-term dividend increases but thinks this is a little ways away. Also need to see some resolution on the new capital requirements.

2010-06-21

VAGUE

63.150

Core holdings. Good earnings out of retail and capital markets. Doesn’t expect a dividend increase during the rest of this year.

2010-06-02

BUY

63.370

Steven Conville

(Market Call Minute.) Bank of Nova Scotia (BNS-T) or Bank of Montreal (BMO-T)? His preference is Bank of Nova Scotia. Likes their global involvement. However, you can't go wrong with either company.

2010-05-03

BUY on WEAKNESS

64.930

Sandy McIntyre

Capital ratios are good. Thinks we are in a choppy range bound market for a while. Market may want to correct here. Financials are the most concentrated sector on the TSX so they will be more volatile.

2010-04-23

HOLD

64.190

All the banks have had a nice run and the return is probably 5% from here plus dividend gives you 7% or 8%. He prefers Bank of Nova Scotia (BNS-T) as this one is a little less clear as to a specific strategy but nothing wrong with it.

2010-04-19

Comment

61.970

Paul Gardner, CFA

Sell and Buy BCE (BCE-T)? Not a bad idea from a trading perspective as Bank Montreal is priced pretty well for perfection at about 2X book value.

2010-04-01

PAST TOP PICK

55.100

Christine Horoyski

(Top Pick Apr 13/09, Up 30.5%) Bank of Montreal Capital Trust 10.221% maturing Dec 31/18.

2010-02-22

DON'T BUY

52.180

Benj Gallander

Wouldn’t touch Canadian Banks at these levels. There is more downside risk. May look at preferred shares.

2010-02-09

DON'T BUY

51.920

Stan Wong

A lot of the stocks within the banking space have been relatively flat over the last several months. Would prefer other names in the Canadian financial space such as AGF Management (AGF.B-T) with over 6.2% yield. Dundee Wealth (DW-T) looks like it is turning itself around.

2010-02-04

HOLD

52.650

Michael Decter

Thinks dividend is safe and doesn't see any Canadian banks cutting dividends. Canadian banks have had a huge run and are probably in a bit of a holding pattern for a couple of quarters.

2010-01-25

DON'T BUY

52.180

He is still not on the bandwagon for this one. Still grinding through its issues. Still have some problems in the US.

2010-01-22

PAST TOP PICK

53.480

(A Top Pick Jan 9/09. Up 70%.) Getting to the point where he would be a seller and not a buyer.

2010-01-11

PAST TOP PICK

55.300

Mark Carpani

(A Top Pick Jan 27/09. Up 33.58%.) Capital Trust II, Dec/17 @ 10.22%. Still likes.

2009-12-29

Comment

54.390

Norman Levine

Had gone from being the most conservative Canadian bank to the riskiest one making the yield the highest. Raised a lot of capital and it is not an issue any more. His only bank holding is National (NA-T).

2009-12-23

VAGUE

54.390

Lot of people are asking if their money can earn more elsewhere than the banks. But more analysts are recommending BMO. 5% yield still. No compelling reason to get out.

2009-12-22

Comment

54.170

David Cockfield

Bank of Montreal (BMO-T) versus Bank of Nova Scotia (BNS-T)? He would rank Scotia above BMO because it has better growth prospects. However, this is one of the most improved banks in Canada. Excellent dividend.

2009-12-21

VAGUE

53.850

Ara Nalbandian

Recent reports were mixed. Longer term, 2010 is a transition year, where they are trying to build up capital and see what the regulatory framework will look like. Owns TD. Thinks TDBankNorth will play out positive for them eventually.

2009-12-15

Comment

53.350

Paul Harris, CFA

Dividend is high but he doesn't think they will cut them.

2009-12-10

HOLD

54.050

His least favourite bank. Has a little bit of trouble with their strategy and their US exposure. (See Top Picks.)

2009-12-07

Comment

54.180

Slowly but surely coming around. Prefers others but will continue to perform well. An interesting way to play is to buy Guardian Capital (GCG.A-T), which has a massive block of this company on its balance sheet.

2009-12-03

PAST TOP PICK

52.950

Mark Carpani

(A Top Pick Jan 27/09. Up 32.57%.) Capital Trust II, Dec/17 @ 10.22%. Recently trimmed part of his position.

2009-11-17

SELL

50.060

David Cockfield

All of the Canadian banks are looking tired. Had a big run up off the bottom. He has been taking profits.

2009-10-30

SELL

50.460

Mike S. Newton, CIM FCSI

(Market Call Minute) Switch over to Royal or BNS.

2009-10-27

Comment

51.760

Getting quite close to his target of $58-$59. At that point he would be looking for a setback. Historically, when the banks have had a move of this size that they had this year, the setback has been quite substantial at 30%+.

2009-10-26

BUY

52.000

Don Lato

Favorable toward all Canadian banks. Solid dividend, low PE multiple. Not his favorite/ TD and RY are his favorite.

2009-10-21

DON'T BUY

52.450

This would not be his preferred choice in the banks. He would look at Royal (RY-T) or Scotia (BNS-T).

2009-10-16

HOLD

54.120

David Baskin

Expanding into China and he thinks it will be hard work for them. Chinese like banking with the Chinese. The Harris Bank in Chicago is a bit of a millstone around their neck. Pretty good dividend.

2009-09-23

Comment

53.540

Ron Meisels

Had a major rise from March because it had been so oversold. 200-day moving average is at $40 so there is a huge gap between this and the stock price. Therefore anything can happen including a correction. If you are worried about losing some profits, your stoploss should be below $47-$48.

2009-09-18

SELL

51.880

Take money out of it. It was the most under valued bank in the past and it has more than doubled this year. Move money into lifecos and technology, out of financials.

2009-09-08

Comment

51.210

Derek Webb, CFA

Caller sold a Put for $3 and could now buy the Option back at $1.50. He is very bullish on Canadian banks. He would hold on to the Puts, ride out the premium, take the full $3. Worst-case scenario you be given the stock at a much lower price than what it is.

2009-09-03

BUY

50.500

Financials have been pulling back the last few days. Pays a fairly generous dividend of over 5.5% and recent results show that it is sustainable. Came out ahead of expectations. Not a lot of capital charges. Still have some problems in the US but overall it's a good place to have some money.

2009-09-02

PAST TOP PICK

53.650

Michael Smedley

(A Top Pick Aug 20/08. Up 28.7%.)

2009-08-26

Comment

51.330

Hap (Robert) Sneddon FCSI

Potentially bank stocks look like they want to work a bit higher, maybe 15%-18%. This one might carry as high as $60. Have to be careful because over the past 30 years of trading in bank stocks this has been the biggest, fastest recovery of them and when they start to fall they can have nasty corrections.

2009-08-13

BUY

50.830

Dean Smith

Bonds. Views on this bank are increasingly positive as time goes on. A good one would be 5.2% due 2012. Subordinated debt.

2009-08-12

Comment

52.410

David Burrows

Longer-term view is that banks do not have anywhere near the tail wind that they have had over the last 15 years. Thinks they will have an earnings multiple contraction over time. Currently they trade at a premium multiple to global banks, especially the US. Thinks valuations look pretty stretched.

2009-08-06

BUY on WEAKNESS

54.550

Banks had a huge run and he is expecting a slight pullback. About $47 would be a level of support that could be a pretty safe entry point and 5%-10% would be a good stoploss from that level. Institutional players are rotating out of the banks and into insurance and fund companies, which would be an alternative place to look at this time.

2009-08-04

Comment

54.550

David Schaffner

Capital Trust II 10% bonds. The legal maturity is almost a century from now but is structured to be redeemed in 10 years. If the bank lets the bond remain outstanding they will have to pay a government bond yield +10%.

2009-08-04

PAST TOP PICK

52.800

Christine Horoyski

(A Top Pick April 13/09. Up 18.7%.) Still attractive but estimated return is in the high single digits rather than double digits.

2009-07-30

Comment

50.000