STOCKCHASE

His 3rd favourite Canadian bank after National (NA-T) and Bank of Nova Scotia (BNS-T). Looks quite attractive. Good results in retail, commercial and lending. Expects earnings will increase from here. Cheapest of the big 5. Has a $65 target and a dividend increase. 3.8% yield.

2010-09-02

Comment

52.300

Bruce Campbell

2 concerns. They are most highly levered to capital markets but he can live with that. His biggest concern is that they're losing money on their US retail side. This needs some fixing. (See Top Picks.)

2010-09-02

TOP PICK

51.250

Likes their core business and have owned them for years. Buying below $49. Loan loss provisions are coming down and the key banking part is good.

2010-08-30

PAST TOP PICK

51.250

Hap (Robert) Sneddon FCSI

(A Top Pick Dec 3/09. Down 8%.) Got this one wrong but still likes. Good dividend.

2010-08-30

BUY

48.950

Paul Harris, CFA

(Market Call Minute.) Good time to buy this one. Great company.

2010-08-26

TOP PICK

51.690

Christine Poole

Has under performed and is the only one that is down year to date. Good last year. The stock was over bought when it got up and has now corrected. Is trading in line with the group instead of at a premium, which it used to.

2010-08-23

BUY

51.350

Bill Carrigan

Because he is fairly positive on the outlook for the market, financials have to move with the rise. He doesn't see them doing a lot but he doesn't see them going down either. There is a lot of support around its current price. 3.9% dividend.

2010-08-19

DON'T BUY

51.720

Financial services indexes on a monthly basis are 2nd from the bottom so the action has not been in financials. The environment of lowering of yields compresses financials so much that the banks really have no place to make money.

2010-08-18

DON'T BUY

51.460

Benj Gallander

Question about what if there is 2 bad quarters. He says problem is people’s short term thinking. He doesn’t like Canadian banks at this price though.

2010-08-17

Comment

51.320

Jamie Horvat

Experienced volatile earnings since 2006. Net interest margins peaked in 2008 because of a lack of global growth. With decreased trading revenues, M&A activity and housing environment, he sees limited growth going forward. Can see more interest from foreign investors in Canadian banks. He is not neutral on this one. For dividend investors only.

2010-08-16

BUY

51.320

Michael Decter

Thinks this bank has the best management culture in terms of consistency and a very solid franchise.

2010-08-16

BUY

52.060

Would buy all of the banks at their current levels but especially this one. They are in the penalty box right now.

2010-08-11

BUY

53.350

Has been slapped down. Got stung by US operations. Reasonable dividend yield. They will turn it around this quarter. Overcapitalized. Looking for them to raise dividend next year. Earnings in the high $4 this year, $5 next year.

2010-08-10

BUY

52.670

The rules have come out in such a way that he thinks all the Canadian banks can increase their dividends.

2010-08-05

WAIT

52.670

Brooke Thackray

MFC brought all the financials down. RY I a blue chip bank and are a better bank to be in in tougher times. He would not buy banks right now. Not a good seasonal time. Season is October 28 th. Not expecting it to go back to $62 but it could go down to $45. October 28 th is a major date to get into banks. This is their year-end. Get in a month before the reports. That’s when they announce dividend increases.

2010-08-05

WEAK BUY

53.720

Jeff Parent

Has been very disappointing. Complete loss of momentum. Has potential because people outside of Canada by it. Treat it as a trading stock. Prefers National Bank (NA-T).

2010-07-30

HOLD

52.450

Paul Gardner, CFA

Missed their numbers last quarter so stock had a dip. Trying to make a push into a global banking entity by going into the US, which could have some execution risks but a brand name that is respected globally. Will probably go up 5%-10% over the next 12 months. You could Buy for the long-term.

2010-07-26

TOP PICK

52.450

Christine Poole

Has under performed the group. Stock came off because of a poor quarter in wholesale revenues. As Canada's largest bank it has a premier franchise in retail and wholesale banking. Well positioned to participate in the long economic growth that should follow. 3.8% yield.

2010-07-26

HOLD

52.000

David Cockfield

Banks in general didn’t do that well today, but this one was flat. Didn’t have that great a result recently. Is recommending a different bank today. If you want to hold it for the long term you will do fine.

2010-07-22

PAST TOP PICK

53.540

(A Top Pick May 12/09. Up 28.46%.)

2010-07-20

TOP PICK

53.630

4.93% Bond maturing July 16/25. A deposit note, which is right near the top of the capital structure. Very well run bank, well diversified and good balance sheet.

2010-07-19

HOLD

53.630

6.821% maturing June 30/49 and callable June 30/18. Will probably be called in 2018 because this is a Tier 1 capital structure. This is a high-quality credit.

2010-07-19

VAGUE

54.880

Benj Gallander

RY preferred shares. Could sell at a premium, and he is going to re-examine but likely he will continue to hold them. Not a lot of upside in the short term, but there is only one way for them to go.

2010-07-13

BUY

54.880

Benj Gallander

(Market Call Minute)

2010-07-13

BUY

54.360

Mike S. Newton, CIM FCSI

Sees this as flat in the next 6 months but you'll get your dividend but could be a little higher. Really depends on what happens in August or November with the Basil 3 G20 meeting.

2010-07-12

HOLD

52.460

Michael Simpson, CFA

Premier Bank in Canada. Has come down a lot during the correction. 4% dividend yield.

2010-07-07

TOP PICK

52.370

Missed on their earnings and the market overdid it. Has problems in the US, but everybody does. Operations in Canada are very strong. As recovery takes hold earnings and dividend will grow. Top-notch company, 25% cheaper than in April.

2010-07-06

BUY

51.150

Greg A. Taylor, CFA, BBA

Missed its quarter saw analysts took their targets lower so the bank lost its premium royalty. Fairly good value here. 4% dividend yield. May be a soft quarter coming up.

2010-07-05

BUY

51.150

Martin Hubbes, CFA

You have to remember that while they had great earnings, a lot of this was coming from trading revenues. Much more reasonable pricing now for a long-term investor.

2010-07-05

Comment

50.910

Don Vialoux

High yielding stocks are so attractive because of their yield that now is the time to start looking at them even though technically they don't look that hot. Dividend yield in excess of 4%. Good place to hide until September/October. As a seasonal investor this is not something he would do.

2010-07-02

PAST TOP PICK

51.000

(Top Pick Dec 3/09, Down 10%) Attractively priced right now. Getting a nice dividend right now.

2010-06-29

BUY

53.750

Sometimes when companies report earnings and are the only ones in the group that disappoint, they get punished. That's the case with this bank. Great entry point and has the most potential for growth between now and the end of the year. Toronto Dominion (TD-T) is his favourite followed by this one.

2010-06-23

BUY on WEAKNESS

54.710

Peter Brieger

Banks face new regulations at year-end. RY is the next one he would consider buying. 2 to 3 years it is a great purchase.

2010-06-15

BUY

53.740

Hap (Robert) Sneddon FCSI

Missed earnings expectations. However broken down they missed on trading, the most volatile part of the business. Retail and wholesale have been doing very fine. Attractive price. Good dividend at 3.7%.

2010-06-14

BUY

53.000

Michael Decter

Took advantage of weakness in the US to buy banking assets on sale. Long term buy.

2010-06-11

Comment

53.000

Craig Machel

Didn’t they hedge against their FX losses? Yes, their hedging went against them. They made a call on the firing currency as a means to add to the banks profits and they were wrong.

2010-06-11

WAIT

53.540

Would not be that comfortable with the financials. The first stop point is not too far away from where we are here.

2010-06-04

DON'T BUY

55.080

Michael Sprung

We had a mixed bag of earnings. Banks were doing well in retail. Wholesale did not have a lot of IPOs. On a long-term basis. They are all selling on about 11 times forward earnings. Would prefer a different bank right now.

2010-06-02

SELL ON STRENGTH

55.120

Don Vialoux

Usually it is strong from end of January until end of May. This year technicals are not so good. Technical breakdown caused it to break through support level. It is so over sold now that it is now due for a bit of a bounce over the next week or two. Next strength period is typically end of September to end of November.

2010-05-31

WAIT

58.990

Colin Stewart

Very strong retail franchise and didn't get into too much trouble with regards to US businesses. Took advantage of opportunistic purchases in the US. Long-term, a good place to be. A little concerned about Cdn real estate market and would wait for a lower entry point.

2010-05-25

HOLD

62.420

Joey Mack

Preferred A perpetual shares. Preferreds are looking relatively cheap. Perpetual is tough as he thinks rates are going to rise. Have already fallen off when long bonds haven't. 6% yield equals an 8% tax equivalent.

2010-05-03

BUY

62.420

Steven Conville

Short term, stock may go lower because Canadian banks in general have been on such a great run and making key US acquisitions may slow their earnings growth. For a long-term Buy there aren't too many companies globally that are better run.

2010-05-03

PAST TOP PICK

59.570

(A Top Pick May 12/09. Up 40.87%.) His favourite. Number of compelling reasons to own banks right now. Good dividend yields and you have a better option of getting better earnings/growth over the next few years.

2010-04-12

HOLD

58.940

Stan Wong

Some of the downside risks could be increased because of regulatory rules and changes on how they operate. This one has a great balance sheet. Chart shows at doing extremely well but wonders if there will be a bit of a pause in some of the banks.

2010-04-08

PAST TOP PICK

59.440

(A Top Pick April 3/09. Up 54%.) Wouldn't chase this one at this price.

2010-03-31

PAST TOP PICK

59.450

(A Top Pick March 2/09. Up about 10%.) 4.58% Bond callable 2012. If he still owned it, he would be looking to get out of it now.

2010-03-29

BUY

60.380

Jim Houston

Expect banks to move higher over the long term. In the short term there could be backing and filling. Fantastic domestic franchise.

2010-03-25

HOLD

60.240

Banks normally sell mortgages to the CMHC. Terrific bank. Number 3 on his list due to valuation. CIBC would be number 1 for new money.

2010-03-23

HOLD

59.490

Michael Smedley

(Market Call Minute.) Like all the other major banks, you should hold this one forever.

2010-03-18

BUY

58.410

Jeff Parent

Likes the banks. This one looks really good and is very close to its all-time record highs of the $60 level. Getting near to this again. $60 will be a bit of the resistance point but there should be a couple of dollars left in this. Would be surprised to see a drop below $56.

2010-03-12

PAST TOP PICK

58.050

(A Top Pick Apr 1/09. Up 26.15%.) 6.821% June 30, 2018 bonds yielding about 8% to maturity. Still likes.

2010-03-11

PAST TOP PICK

53.060

(A Top Pick Feb 9/09. Up 67.5% excluding dividends.) Had been way oversold.

2010-02-08

WATCH

53.480

Don Vialoux

Banks have 2 periods of seasonality. One is from the end of October until the end of December, which is when the banks are reporting their 4th quarter results. The other period is from the end of February to the end of May. Watch for the sector to show bottoming action are on the end of this month.

2010-02-03

PAST TOP PICK

52.820

Gavin Graham

(A Top Pick Jan 14/09. Up 60.02%.)

2010-02-01

PAST TOP PICK

53.370

(A Top Pick March 2/09. Up 9.74%.) Bond due 2012. No longer owns as he changed firms but still likes.

2010-01-26

PAST TOP PICK

55.750

(A Top Pick Feb 9/09. Up 80.51%.)

2010-01-14

PAST TOP PICK

56.140

(A Top Pick Apr 3/09. Up 49.95%.) Still likes.

2009-12-30

HOLD

56.140

David Driscoll

(Market Call Minute) for all Canadian banks

2009-12-29

HOLD

54.810

Steven Conville

Management style is very conservative, which he likes. Long-term hold.

2009-12-18

HOLD

55.260

(Market Call Minute.) Still sees plenty of upside.

2009-12-16

BUY on WEAKNESS

55.150

(Market Call Minute.) Buy in the low $50’s. The banks are in a consolidation phase.

2009-12-10

SELL

55.230

Norman Levine

Would not own too many banks. Would take profits. They have a huge US exposure and he prefers banks with less US exposure.

2009-12-08

TOP PICK

57.480

Now that we are at normalized valuations for banks, this is the place to be. Attractive valuation. Extremely well positioned in the capital market. Good “buy and hold” blue-chip stock.

2009-12-03

Comment

56.810

John Zechner

This is more the stable player in banks with the best of the consumer market. Worries are little about their US exposure. Feels banks are now fairly valued. Earnings growth will be slow because of dilution. Good dividends.

2009-11-30

PAST TOP PICK

56.700

(A Top Pick May 5/09.) Doesn't own since he is managing a new fund. Still likes.

2009-11-27

PAST TOP PICK

58.190

Gavin Graham

(A Top Pick Jan 14/09. Up 75.31%.) Still buy.

2009-11-23

WAIT

57.350

Will be reporting in a few weeks and will know a lot more then as to how much loan loss provisions will be needed for the US operations.

2009-11-12

BUY

54.880

Craig MacAdam

Canadian banks have come through the crisis and this one is the leader. Dividend is secure and will start to grow again once they build up their capital. This would be his favourite play. 3.6% yield.

2009-11-02

BUY

56.110

(Market Call Minute) One of his two favourite banks stocks.

2009-10-21

Comment

55.950

Had a wonderful run off the bottom. All the banks are looking a little tired for the short-term and he has lightened his holdings little bit. 3.5% yield.

2009-10-09

PAST TOP PICK

56.310

Jeff Parent

(A Top Pick Oct 10/08. Up 43%.) Buying Shares at about $41and Selling Call Options at $42.

2009-10-07

BUY on WEAKNESS

55.170

Steven Conville

Attention to detail is very good. Over a long-term you will be rewarded. Expect you could get it $3-$5 cheaper in the next few months.

2009-10-02

BUY

57.500

Great company. Trading at a reasonable valuation. Earnings will continue to grow. Expect dividends will go higher in 2010.

2009-09-29

PAST TOP PICK

57.050

(A Top Pick Oct 9/08. Up 16.71%.) RBC Capital Trust bonds Dec 31’13.

2009-09-21

Comment

56.840

Shauna Sexsmith

Largest bank in Canada but has some US assets that cause some concern. Had a great quarter because of vote 50% of their revenues came from trading. Has the best ROE in the business. Strong franchise but the shares are priced to reflect that. (See Top Picks.)

2009-09-08

SELL

56.840

John Zechner

He is selling banks. Not worried about dividends or earning, though, and would rather look at US banks.

2009-09-08

TOP PICK

56.400

Andrew Guy, CFA

This and Toronto Dominion (TD-T) (See Past Top Picks) are the 2 best managed Canadian banks. At this time, this one is the better pick because of the diversification of its assets and the strong management.

2009-09-04

Comment

56.450

Blew the doors off with their last quarter's earnings. If you own and have doubled, consider taking some profits. Very impressed with this bank. Fair value right now and there is room for the dividend to rise.

2009-08-31

TOP PICK

56.100

6.1% Series AX Bond yielding 5.5%. Rate reset bond that if the bank or insurance company does not call it back in 5 years, they will either go on for the next 5 years at either a fixed or floating rate, your option. One of Canada's top banks. With the drop in yield, the price should go up.

2009-08-28

PAST TOP PICK

56.100

(A Top Pick May 5/09. Up 4.25%.) Callable Bond due in 2018 which should be called out in 2013.

2009-08-28

BUY on WEAKNESS

50.580

Ara Nalbandian

A little bit overvalued and banks could correct here. Overall he doesn't see any significant overall catalyst that is going to bring it down so wouldn't recommend a short position on it.

2009-08-19

HOLD

50.110

Andrew McCreath

(Market Call Minute) Best of the lot in it’s market place. Sees no calamitis events but tough time moving higher.

2009-08-18

BUY on WEAKNESS

50.710

Bruce Campbell

(Market Call Minute.) Prefers the other banks.

2009-08-10

BUY

51.850

Banks have had a good run. He views them as core holdings and wouldn't be afraid to own them here. Trading at reasonable multiples. There are signs of slowly but surely improvement in the economy. Solid yield.

2009-08-05

Comment

51.000

Canadian banks will make a lot of money on their underwriting. This one has a little bit too much exposure in the US for him. Expecting a reasonably good quarter. Pretty much fully priced. If you own Hold but if not, every portfolio should have a Canadian bank.

2009-07-27

BUY on WEAKNESS

45.130

He is under weighted the financials because Canadian banks that are US exposed might be exposed to more bad debt than is thought. If the price gets close to $40 you can buy but don't go roaring after them.

2009-07-10

HOLD

47.990

Ara Nalbandian

Canadian banks have been managing through the cycle considerably better than other global banks. This is the premier, highest-quality bank in Canada. He views Canadian banks as having run too far, too fast and he doesn't find great value in them right now. For a longer-term time horizon you should continue to Hold. Dividends are safe.

2009-07-03

PARTIAL SELL

47.990

Prakash Hariharan

Would take some profits but would keep a little bit in the case of a rebound. Wait for a pullback before buying. If they have bad earnings numbers that would be an opportune time to get in. Good tangible common equity ratio.

2009-07-03

PARTIAL SELL

47.470

Bill Carrigan

Canadian banks were a screaming buy back in early March when they had yields of 6% plus. They are now up 40%-50%. If you own, consider taking some profits.

2009-07-02

DON'T BUY

47.540

Michael Sprung

(Market Call Minute.) This would not be his first choice. There are a couple of others that would have a better valuation.

2009-06-26

TOP PICK

46.000

Dividend yield of 4% plus. A year from now, the economy is going to be better and we won't be talking about housing prices and loan losses. Earnings are going to start growing. This bank’s wholesale business doesn't get enough credit. Very good upside in the next couple of years.

2009-06-19

DON'T BUY

45.180

David Burrows

A number of things that have driven earnings gains in the past are probably not there going forward. Banks became very over owned and never will likely be a multiple contraction going forward. He has very limited holdings in financials.

2009-06-15

HOLD

45.990

Mike S. Newton, CIM FCSI

His 2 picks in Canadian banks would be Bank of Nova Scotia (BNS-T) and Royal Bank (RY-T). The issue he has with them is that the charts show them right up against the long-term trend. Things are not getting a lot better out there and he doesn't know how they are going to make a lot of money. Will probably be a sideways trade for some time. 4.3% yield.

2009-06-11

SELL

46.090

Norman Levine

Would consider taking profits as the banks have gone up on declining volume. Charts of Canadian banks shows volumes were highest at the bottom of the stocks. As the stocks have been going up, the volumes have been going down. Also big US exposure and commercial loan exposure is there. Credit card debt could be a problem.

2009-06-08

BUY on WEAKNESS

46.090

Paul Gardner, CFA

With the latest run he sold part of his holdings. Best in class company but would wait for a 10% drop.

2009-06-08

BUY

44.840

Gavin Graham

(Market Call Minute.) One of his 3 favourite banks. The other 2 are Toronto Dominion (TD-T) and Bank of Nova Scotia (BNS-T).

2009-06-04

HOLD

43.700

Gerald Allaye-Chan

Long-term this one is definitely a hold. Has been very well managed and diversified. Will be a winner in the long-term.

2009-05-29

BUY on WEAKNESS

45.500