Laurentian Bank (LB-T)

Bought in his conservative strategy when all the analysts on the street hated it. Stock has a definite bottom, and he bought near that for a swing trade. Now at, or near, the top. His target was $31 -- obtained, as that was the level of support in late 2022 and mid-2023. Today it's around $29.50, so he's on the verge of selling.
 
Could move a bit higher, as the banks tend to move as a group until the end of December. Might get another $1 out of it. "Bulls make money, bears make money, pigs get slaughtered." Once it hits $31, he's out.

Excellent trend. Likes setup of the chart - would recommend buying at this price. Seeing value in the current share price. Bank appears to be a M&A candidate, or a turnaround story. Support appears to be there for a recovery. A stop loss strategy could also protect investors. 

Doesn't have a bright outlook for its future. Not a good bank. Multi-decade series of strategic blunders. Increasingly, scale matters, and this one is sub-scale. Put themselves up for sale, but why would anyone buy it when they can just eat their lunch for free and take their market share?

Different from NA takeover of CWB; both of those banks are good banks.

Don't buy today, but you can continue to own it if you already do. Pretty nice dividend yield, safe payout ratio. Trap. Not a lot of great opportunity. Needs improved growth, better operational efficiency, more consistent revenues.

He made that call right before they put themselves for sale. So it would have been a good time to sell. He's baffled why BNS bought CWB and not the cheaper LB. He would hang onto this. It's so cheap and eventually somebody will buy it.

Tough one. Up for sale, no offers accepted. Power outage. Management changes. Very low ROE compared to peers. Still thinks it will get gobbled up. Results on slow decline, need to turn ship around.

Would not recommend buying bank. Broken business model. Cheap business for a reason. Sub scale in terms assets. Very behind in competitive nature of business. Dividend yield tempting - but is too risky to justify investment. Cutting dividend very poor sign. 

Put itself up to buy, and no one bought. Difficult environment has gotten worse. New management. Banking is a business of scale and technology, and they can't compete. Buy something else.

Company struggles reflect cheap stock price. Would be very careful investing in company. Lots of errors within in management team. Believes credit will become a problem in going forward. Better / cheaper names in financial sector to invest in. Unsure on quality of balance sheet and assets. Would not recommend investing in right now. 

Does not own shares. Too regional for preferences. Has been a tough time for the business. Recent strategic process not going well. Would not recommend buying. Better options in sector. 

Small Canadian bank that has entered strategic review. No buyer for recent review process is a very bad sign. Concerns about debt levels and credit risk with rising interest rates. Will not recommend buying at this time. Better Canadian banks to buy.

It has a good presence in Quebec. They are interested in selling but he doesn't see who would buy them.

Not very attractive as a bank, otherwise it would have been snapped up. Hasn't invested in IT, not efficient, no scale. Not sure of a sale. Very interesting asset in the US, an inventory finance company. It's possible someone in the US will buy that part, while someone in Canada buys the banking part. 

Does not own shares.
Not a good deposit rate.
Cost of funding higher than competitors in sector.
Strategic review not generating prospects.
Not a good investment.
Holding as potential M&A target not a good strategy. 

Better banks to own with better assets, balance sheets, and management. Price popped, then dropped when 2 of the big banks took a pass on buying. If there are no buyers, you're left with a lower quality bank. Going with the biggest and best will provide defensiveness plus capital to grow.