Toronto-Dominion Bank (TD.TO)

Doesn’t see as much growth out of this in the next couple of years as he does out of the others. It is about 4.5%. Trading at a premium valuation. Q3 numbers were very wholesale heavy. Their flagship Canadian unit was fairly sluggish. This has benefited from having the biggest US exposure, and you are probably not going to have the same performance in the next year or 2.

A very unique Canadian bank. They have a strong US presence. However, the return on that business has not been as good as people were expecting. He doesn’t think the Canadian banks are expensive. Very rigorous on cost cutting, so you will be able to see some earnings growth from that.

One of the biggest Canadian banks and has a great retail operation in Canada and a very strong presence in the US, in comparison to its peers. Very well managed and not overly expensive.

Pioneer in terms of getting into the US successfully. A large percentage of revenues come from retail banking. It held up much better last year. He already had exposure in the US on banking. It will be hard to get growth in the Canadian banks but 2-3% earnings growth would be good.

He continues to own and buy this one because he doesn’t have to own a US bank. He gets the diversification in 1 bank, that might take 2 or 3 otherwise.

(Market Call Minute) Maine to Florida in the US but not getting the ROEs they get in Canada.

(A Top Pick July 31/15. Up 12.7%.) Really likes their large US exposure. They are not in the kinds of banking that is going to be really hammered by the new regulations. Dividend yield of 3.8%.

(A Top Pick Aug 20/15. Up 14.65%.) A great bank. Have done a great job of growing their franchise in the US, around the east coast. Not trading at a high multiple and has a great yield. If they can keep their costs down, they can have bottom line growth between 10%-15%. Their US franchise is still not earning what it should be, and he thinks this is the upside to the story.

(A Top Pick August 17/15. Up 14.84%.) Likes their long term franchise. It is the lowest dividend payer of the group, but it has also been the best performer.

Toronto Dominion (TD-T) or Wells Fargo (WFC-N)? Two excellent banks. He would probably buy this one, simply because you wouldn’t be exposed to the currency fluctuations. They are both excellent, but he expects there will be a little more upside in this one.

This has been a really great bank stock. The recent hiccup is a reflection of global financial concerns. A wonderfully managed, good quality name. A name that should be in every portfolio.

(A Top Pick June 22/15. Up 5.54%.) His favourite bank. The main attraction is the exposure to the US. Their exposure to the UK is minimal.

Best Canadian bank? This is one of his favourite banks. Because they have strong exposure to the US, it has done an incredible job of building out their branch networks. The US is going to be a safe haven. You may see more money flow into the US, which might be good for this bank.

His favourite bank. It has had a focus in the US and is diversifying away from Canada. His view is that this is a retail bank focused on the customer, and less risky than capital markets and international. A conservative way to play the banking sector.

(Market Call Minute.) It doesn’t go up as high as the other banks, but this is a Buy. (See Top Picks.)