Canadian Western Bank (CWB-T)

Working to diversify, including owning Ontario real estate. Undergoing a review to calculate capital differently which, if successful, would let them compete more aggressively on loan products. Regional banks are trades for him, in and out. Prefers this to LB.

Focused on the western part of the country and which is still going through a difficult economic period of time. It has had a decent couple of years as credit losses have been kept to a decent low. Their traditional business of lending with a flat yield curve is very difficult. He prefers TD-T and RY-T because they are doing the best with regards to investing.

A mortgage- and loan-heavy bank, so it's more volatile than the big banks. But volatility is opportunity. Don't trade out of this for one to buy one of the big guys. Just stick with it.

Tied in with Alberta's economy, but in the past few years has surprised all--its loans losses aren't as bad as people feared. They've weathered the oil crisis very well. Prefers banks not as regional as this one. If you're positive about Alberta's outlook, then CWB is a good hold. A few new pipelines would boost sentiment.

National Bank or Canadian Western Bank or Laurentian? Definitely National. It's growing in asset management and spending on technology, adapting their tech to their data findings. Drawback is it's Canadian-only focus. That said, he prefers larger banks operating in U.S. like TD and Royal.

Doesn’t like. They don’t own any of the banks in Canada. It’s one he would avoid he doesn’t see good upside. Had a nice rebounce coming back from the energy issues that plagued the sector in 2015 and early 2016. If he owned, he would look at trimming and wouldn’t be picking up here. The oil environment has improved and gotten a lot better and thinks Canadian Western Bank is fully valued at this point. It’s a valuation issue, and also a broader issue around the banking sector with valuations, you are paying for the fundamentals, and thinks fundamentals are rather toppy in terms of the credit cycle.

Although located in the West, the company is not dependent on oil and gas. They’ve been doing well. Have broken into eastern Canada a little. It is probably worth holding. 2.7% dividend yield.

This has had a great recovery with both the oil recovery and housing worries abatement. He wouldn’t look at this in relation to other Canadian banks. Has a yield of under 3%, and you can get Bank of Nova Scotia or Royal Bank that is closer to 4%.

It has had a wonderful rally. He is more constructive now on energy than in quite some time. This is a help from western Canada. He prefers US banks to Canadian but certainly this one is acting great and he would not have a problem owning it.