STOCKCHASE

He is warming up to US banks and for the first time has one as a top pick today. If he had to own a big bank, this would be the one because it is the best run of the big banks. They are not big in investment banking and brokerage, which is good. He is very warm to it. He prefers US regional banks to Canadian on a valuation basis.

2012-01-19

TOP PICK

30.240

Sandy McIntyre

Super regional, well-run bank. Some of the US housing market is turning and stabilized. Has always being conservatively run. Payout ratio of about 16%-17%. Sees an opportunity for dividend growth eventually.

2012-01-18

HOLD

29.610

As with all of the “too big to fail” US banks, you have to be concerned as to the outlook for the US housing market. Well run bank, but is still dependent on the housing market. Longer-term it will be a survivor.

2012-01-13

Comment

27.110

One of the few US banks that is fairly close to where it was pre-2008-2009 crisis. One of the better conservatively managed banks. It is in the “too big to fail” category.

2011-12-28

PAST TOP PICK

26.500

Ben Cheng

(A Top Pick Jan 11/11. Up 11%.)

2011-12-20

TOP PICK

26.950

Ian Ainsworth

Not high growth, but growing faster than its competition. 22% growth in earnings over the next year. Well reserved against US problem loans. Could easily move up into the mid-$30’s. US economy is a lot stronger than people think.

2011-10-12

DON'T BUY

31.400

John O'Connell, CFA

Well run bank. Still has a lot of real estate exposure as well as a lot of exposure to the consumer. Has increased its dividend.

2011-04-11

BUY

32.420

Mike S. Newton, CIM FCSI

Tide in this sector is starting to change. Reported good revenues last week. Interest spreads were pretty flat which is pretty endemic of all banking. Will probably be the first US bank to raise dividends. Looks really good here.

2011-01-31

DON'T BUY

32.700

Lorne Steinberg

Well managed US conservative bank. Pure retail b bank and not involved in investment banking. Hadn’t participated much in the mortgage excesses in the market. One negative is their huge exposure to California and the Western states where mortgage/housing market is still suffering.

2011-01-24

TOP PICK

31.400

Ben Cheng

7.5% Preferred Share. (Can’t find the symbol for this preferred but the premium is about $1,000. New issue?) Good Risk/reward.

2011-01-11

PAST TOP PICK

26.460

(Top Pick Dec 17/09, Up 0.12%) Still holds, still likes and would buy at these prices.

2010-11-03

PAST TOP PICK

25.600

(A Top Pick Dec 17/09. Down 0.21%.) Still likes.

2010-06-30

DON'T BUY

27.030

Doesn’t own any US banks. The quality is inferior to Canadian banks. He thinks banks are a little ‘toppy’ both in US and Canada, but if you need to own a US bank, this is one of the best run.

2010-06-09

DON'T BUY

28.990

David Baskin

One of the better banks in the US. One of the unknown questions on US banks is if they will suffer from the coming crash in commercial real estate. Came through the recent crisis better than any of their competitors.

2010-01-14

TOP PICK

26.070

Acquisition of Wachovia was brilliant. Very reasonably priced and gave them an expanded distribution base. Extremely strong deposit base, which means cost of funds is going to go down. Extremely well run.

2009-12-17

DON'T BUY

28.570

Derek Webb, CFA

Good-looking chart. Real estate in the US is still a problem and has not been fixed. One area that still scares him is credit to consumers. There are too many easier places to make money.

2009-10-29

DON'T BUY

28.390

David Baskin

One US big bank that was left standing after last year's crisis and managed its balance sheet better than the competition. A question as to what is off the balance sheet on US banks. This one seems to have been more open and transparent but they have a problem with real estate in their home territory. Would give US banks another year.

2009-10-27

Comment

28.760

David Baskin

This is one of the banks that came through the banking crisis in relatively good shape. Didn't engage in a lot of the dubious practices of derivative securities and swaps. One of the better bets of the larger US banks.

2009-09-23

Comment

27.330

Karl Berger

Very well run bank. This is one of the US banks that he would look at and consider when he had little bit more confidence.

2009-08-25

DON'T BUY

27.320

(Market Call Minute.) Wouldn't own any US banks at the moment but if he had to choose one this would be #1 or #2 on his list.

2009-08-24

PAST TOP PICK

24.870

Christine Horoyski

(A Top Pick April 13/09. Up 5.8%.) Still likes this one and still has an attractive yield.

2009-07-30

PAST TOP PICK

23.090

Christine Horoyski

(A Top Pick April 13/2009. Up 4.75%.) 4.45% maturing Feb 29/11. Considers this a Hold.

2009-06-17

Comment

25.020

Mike S. Newton, CIM FCSI

Has survived and has a very strong cultural embedded employees. You are probably going to be fine with this, but his top picks would be Goldman Sachs (GS-N), JP Morgan (JPM-N) or Morgan Stanley (MS-N).

2009-06-11

SELL

25.100

One of the US banks that is a big beneficiary of the meltdown in the US financial system. Purchased Wachovia and doing a good job of turning it around. Profitability will be lower with all US banks than it used to be. Would prefer Canadian banks instead.

2009-06-04

BUY

24.200

Brett Hryb

One of the winner stocks in the US banking sector. Had been hit by all the difficulties that every company had been hit with but weathered the storm far better. Longer-term it is a great stock.

2009-05-13

DON'T BUY

26.840

Gordon Reid

To buy one of the major banks at this point seems very risky. Very little visibility.

2009-05-06

BUY

20.090

Charles Lannon

Will be one of the survivors.

2009-04-23

TOP PICK

0.020

Christine Horoyski

Wells Fargo 4.45% maturing Feb 28/11. These are 2 year deposit notes issued in Cdn$ and is guaranteed by their US parent. Yielding about 5.3%.

2009-04-13

DON'T BUY

8.120

Ross Healy

You have to be gutsy to get into the US financials right now. The unknown sunken logs and torpedoes in the balance sheets can have an unknown impact.

2009-03-05

DON'T BUY

15.760

Financials that survive are going to be beneficiaries of the stimulus package. This one looks like a survivor. Housing market in the US is so bad that there may be surprises in balance sheets. Would stick with Canadian banks that do not have the same issues.

2009-02-13

BUY

16.190

Mark Carpani

Solid AA bank. Thinks a lot the risk is out of these bonds now that the Federal Deposit Corp is allowing them to borrow under the guaranteed program. As long as you diversify and don't have too big a proportion in your portfolio it is probably okay.

2009-01-27

Comment

16.650

David Abella

Investing in corporate senior debt in a company like this would probably be okay. No banking company is immune from what is going on but this company is not considered to have the same extent of problems.

2009-01-21

BUY

18.680

Brendan Caldwell

(Market Call Minute.) Thinks the US financial services stocks are a Buy.

2009-01-19

BUY

27.830

Current market conditions provide opportunities for the high-quality US banks. Top 3 quality US banks would be JP Morgan (JPM-N), Wells Fargo (WFC-N) and Northern Trust (NTRS-Q). On a 3-year view, these stocks will make you a fair amount of money.

2008-12-29

BUY

21.760

Walter Gerasimowicz

Has the capital strength and has been a relatively good performer during this chaos. Would suggest call options and pick up some premium if you sold a call forward. Good security for the long haul.

2008-11-21

Comment

28.730

Charles Bobrinskoy

Got a great deal when they acquired Wachovia (WB-N). Stock has been stronger than what he would have expected. Strong balance sheet.

2008-11-14

BUY

30.830

Brendan Caldwell

Acquiring Wachovia (WB-N). Takeover deals are tough. Risk/arbitrage people have had their heads handed to them because spreads have widened so dramatically. As a retail investor he would probably Buy the big senior company that you know is going to survive regardless.

2008-10-27

DON'T BUY

30.380

He does not own any US banks right now and is not in any rush to do so. Historically this is one of the best run.

2008-08-12

DON'T BUY

23.000

(Market Call Minute.) Good house in a bad neighbourhood. Would avoid the whole financials group until there is some clarity.

2008-07-11

DON'T BUY

36.550

Brian Acker, CA

Excellent company, not mispriced, as a result personally not interested. 4-5% positive differential. Lots of value elsewhere.

2007-09-20

DON'T BUY

36.550

Brian Acker, CA

Excellent company, not mispriced, as a result personally not interested. 4-5% positive differential. Lots of value elsewhere.

2007-09-20

BUY

35.920

Financials have been a good place in the last year and this one has participated in that. Getting close to their top. US and European banks are a better value than Canadian banks right now.

2007-01-31

BUY

34.970

Paul Harris, CFA

A fantastic bank. Made a couple of acquisitions that worked out very well for them. They concentrate on retail, which is a hugely profitable business. Always trades at a premium.

2006-08-15

HOLD

64.410

US banking stocks have been under performing other parts of the market. Very well run company and you probably won't get hurt with this one.

2006-04-10

DON'T BUY

61.050

One of the big groups that has led for 15 years are the banks and they are in an existent in this rally. This one is performing much worse than the market. He has a zero weighting in his US fund in US banks and only a 3% weight in the Canadian banks.

2006-02-06

SELL

58.800

Not performing well.

2005-09-22

BUY

59.900

Paul Harris, CFA

A great bank. They concentrate on key areas, especially retail banking. Not involved with investment banking. Yield is 3.2%.

2005-02-25

BUY

62.570

Chris Lowe, BA, MBA

A phenominal bank and will probably remain so. Its approach to efficiency is what other banks try to emulate.

2004-11-12

TOP PICK

60.190

Mary Farrell

Interested in companies that have very good earnings growth and visibility. Wonderful history of increasing dividends. Well over a 3% yield.

2004-10-01

DON'T BUY

56.720

The super regional banks had been performing quite well. Good balance sheet. Strong financials and management. Share price has been stagnant because of fears of them making an acquisition. Would prefer others such as Wachovia Bank.

2004-02-24

PAST TOP PICK

57.570

Matt Barasch

(A top pick Aug 22/03. Up 16%.) Sold their holdings, but still on their radar screen. If you own, hold.

2004-02-19

BUY

54.150

John Sinkins, CFA

Has made a nice run. A well-run bank.

2003-10-07

PAST TOP PICK

51.470

Brad Willock

(Was a top pick Jul 17/03. Up ½%.) Had been chosen for a possible dividend increase which was done. Well run bank. Their books are clean.

2003-09-03

TOP PICK

49.130

Matt Barasch

Investors had concerns on its lack of economic exposure and lower mortgage revenues compared to its peers.Earnings will probably come in better than expected.Buy for the 4% yield, earnings quality and growth.A good defensive stock.

2003-08-22

TOP PICK

50.950

Brad Willock

Everything goes through their Profit and Loss statement, so nothing is hiiden. A very conservative company. Could have an increase in their dividend shortly.

2003-07-17

BUY

50.240