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National Bank of Canada (NA-T)

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National Bank of Canada
NA-T

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Signal	Opinion	Expert
PAST TOP PICK	National Bank of Canada(NA-T) January 18, 2019 (A Top Pick Jan 26/18, Down 2%) Q4 was strong, capping off a great year. They had sector-leading ROE at 18.5%. Still trades at a discount to peers. Earnings will grow 7%, but Canadian debt is a worry. You can buy it now. banks 0 0 0 0 0 0 comments	(A Top Pick Jan 26/18, Down 2%) Q4 was strong, capping off a great year. They had sector-leading ROE at 18.5%. Still trades at a discount to peers. Earnings will grow 7%, but Canadian debt is a worry. You can buy it now. banks 0 0 0 0 0 0 comments Greg Newman Director &, Scotia Wealth Manage... Price $60.740 Owned Yes

DON'T BUY	National Bank of Canada(NA-T) January 9, 2019 Because Canada runs a well-regulated banking oligopoly, he has no doubt that in due time, it will be a 150B company. But it's not worth this now. It's grown up, and is now playing in the big boys sandbox. They've accomplished a lot over the last 10 years. Most importantly, they've improved their ROE, the primary driver of valuation for a bank, and the market has recognized and rewarded this already. Prefers larger, more diversified banks. banks 0 0 0 0 0 0 comments	Because Canada runs a well-regulated banking oligopoly, he has no doubt that in due time, it will be a 150B company. But it's not worth this now. It's grown up, and is now playing in the big boys sandbox. They've accomplished a lot over the last 10 years. Most importantly, they've improved their ROE, the primary driver of valuation for a bank, and the market has recognized and rewarded this already. Prefers larger, more diversified banks. banks 0 0 0 0 0 0 comments Brian Madden Senior VP , Goodreid Investment ... Price $58.690 Owned No
PAST TOP PICK	National Bank of Canada(NA-T) January 7, 2019 (A Top Pick Jan 09/18, Down 6%) Can't control the market. Earnings were up 10% in 2018, dividends were raised twice. You have to own a bank, and this is their preferred one, trading at 9x earnings, grow earnings 6-7% this year. What's not to like? banks 0 0 0 0 0 0 comments	(A Top Pick Jan 09/18, Down 6%) Can't control the market. Earnings were up 10% in 2018, dividends were raised twice. You have to own a bank, and this is their preferred one, trading at 9x earnings, grow earnings 6-7% this year. What's not to like? banks 0 0 0 0 0 0 comments Barry Schwartz CIO & Port, Baskin Wealth Manage... Price $57.310 Owned Yes
HOLD	National Bank of Canada(NA-T) January 4, 2019 He thinks NA-T is doing a lot of good things outside of Quebec today. A forgotten sister of the big banks in Canada in an oligopolistic market in Canada. A good company to own. banks 0 0 0 0 0 0 comments	He thinks NA-T is doing a lot of good things outside of Quebec today. A forgotten sister of the big banks in Canada in an oligopolistic market in Canada. A good company to own. banks 0 0 0 0 0 0 comments Tim Regan Managing D, Kingwest & Company... Price $56.540 Owned No
PAST TOP PICK	National Bank of Canada(NA-T) December 19, 2018 (A Top Pick Jan 25/18, Down 9%) Banks in general had a rough year. Q4 was very strong for them. Trades at a discount compared to the group. He thinks it is going to grow at 8% annually. Still like it. banks 0 0 0 0 0 0 comments	(A Top Pick Jan 25/18, Down 9%) Banks in general had a rough year. Q4 was very strong for them. Trades at a discount compared to the group. He thinks it is going to grow at 8% annually. Still like it. banks 0 0 0 0 0 0 comments Greg Newman Director &, Scotia Wealth Manage... Price $57.360 Owned Yes
DON'T BUY	National Bank of Canada(NA-T) December 13, 2018 It is not that much chapter than TD-T but he seems more risk because they are so Canadian-centric. All the growth in Canadian banks will come from the US. He does not see anything specifically wrong with this one, however. banks 0 0 0 0 0 0 comments	It is not that much chapter than TD-T but he seems more risk because they are so Canadian-centric. All the growth in Canadian banks will come from the US. He does not see anything specifically wrong with this one, however. banks 0 0 0 0 0 0 comments Kash Pashootan CEO & Chie, First Avenue Investm... Price $58.670 Owned Unknown
DON'T BUY	National Bank of Canada(NA-T) November 26, 2018 National Bank vs. Laurentian Bank Laurentian, because their mortgage debacle has dragged down the stock until it's now the cheapest Canadian bank. National isn't trading as much at a discount as its peers (as LB), and it also has the biggest exposure to Canadian oil, which is a red flag. banks 0 0 0 0 0 0 comments	National Bank vs. Laurentian Bank Laurentian, because their mortgage debacle has dragged down the stock until it's now the cheapest Canadian bank. National isn't trading as much at a discount as its peers (as LB), and it also has the biggest exposure to Canadian oil, which is a red flag. banks 0 0 0 0 0 0 comments John Zechner Chairman, J. Zechner & Assoc... Price $60.060 Owned No
COMMENT	National Bank of Canada(NA-T) November 14, 2018 He likes Canadian banks. NA has done very well. Good management. NA is heavily exposed to Canada, so he prefers TD or BMO because of their US exposure. banks 0 0 0 0 0 0 comments	He likes Canadian banks. NA has done very well. Good management. NA is heavily exposed to Canada, so he prefers TD or BMO because of their US exposure. banks 0 0 0 0 0 0 comments Bruce Murray CEO & Chie, The Murray Wealth Gr... Price $60.880 Owned Unknown
BUY	National Bank of Canada(NA-T) November 6, 2018 A very good bank with better numbers (sometimes) than the big 5. It has a clearing corp that he uses; it settles the back-office trades for most of the independents in Canada, totalling $250 billion that NA settles for. Well-run. Weathered this correction well. Pays a higher dividend than the big 5. A very good hold. Sees no weaknesses. banks 0 0 0 0 0 0 comments	A very good bank with better numbers (sometimes) than the big 5. It has a clearing corp that he uses; it settles the back-office trades for most of the independents in Canada, totalling $250 billion that NA settles for. Well-run. Weathered this correction well. Pays a higher dividend than the big 5. A very good hold. Sees no weaknesses. banks 0 0 0 0 0 0 comments Rick Stuchberry Portfolio , Wellington-Altus Pri... Price $60.230 Owned Unknown
BUY	National Bank of Canada(NA-T) October 15, 2018 It had a really nice trend and broke it. He would feel comfortable adding to it. It would be the strongest one next to BMO-T. banks 0 0 0 0 0 0 comments	It had a really nice trend and broke it. He would feel comfortable adding to it. It would be the strongest one next to BMO-T. banks 0 0 0 0 0 0 comments Hap (Robert) Sn Chief Port, Castlemoore Inc.... Price $60.330 Owned Unknown
BUY	National Bank of Canada(NA-T) August 22, 2018 He likes all the Canadian banks. This is a good, safe dividend grower and very little risk. Rising interest rates is a tail wind for this stock. banks 0 0 0 0 0 0 comments	He likes all the Canadian banks. This is a good, safe dividend grower and very little risk. Rising interest rates is a tail wind for this stock. banks 0 0 0 0 0 0 comments Chris Stuchberr Portfolio , Wellington-Altus Pri... Price $65.510 Owned No
DON'T BUY	National Bank of Canada(NA-T) August 14, 2018 This is a purely Canadian bank, focused in two specific regions: Quebec and the energy sector. He doesn’t like the environment for banks in Canada at this time. On the positive side, they are the biggest custodian of securities in Canada and the biggest market maker in government bonds. They make a lot of money on their securities side. It’s extremely well run and usually sells at a discount to the others. He expects it to be a little more volatile than the other Canadian banks. He has owned it in the past and might own it again, though he does not recommend Canadian banks at this time. banks 0 0 0 0 0 0 comments	This is a purely Canadian bank, focused in two specific regions: Quebec and the energy sector. He doesn’t like the environment for banks in Canada at this time. On the positive side, they are the biggest custodian of securities in Canada and the biggest market maker in government bonds. They make a lot of money on their securities side. It’s extremely well run and usually sells at a discount to the others. He expects it to be a little more volatile than the other Canadian banks. He has owned it in the past and might own it again, though he does not recommend Canadian banks at this time. banks 0 0 0 0 0 0 comments Norman Levine Managing D, Portfolio Management... Price $64.810 Owned No
COMMENT	National Bank of Canada(NA-T) August 10, 2018 He owns TD-T instead as it has lots of US exposure. He prefers the liquidity and exposure into alternative markets of the major banks. banks 0 0 0 0 0 0 comments	He owns TD-T instead as it has lots of US exposure. He prefers the liquidity and exposure into alternative markets of the major banks. banks 0 0 0 0 0 0 comments Mike Archibald Associate , AGF Investments... Price $64.400 Owned No
COMMENT	National Bank of Canada(NA-T) July 5, 2018 There are a couple of issues. It depends on earnings power and at what price do they split. US stocks tend to trade at higher prices than American. Now we are behaving more like them and banks shares are not splitting. NA-T is unique in that it does not make the international investments that others have taken. banks 0 0 0 0 0 0 comments	There are a couple of issues. It depends on earnings power and at what price do they split. US stocks tend to trade at higher prices than American. Now we are behaving more like them and banks shares are not splitting. NA-T is unique in that it does not make the international investments that others have taken. banks 0 0 0 0 0 0 comments Lyle Stein Sr. Portfo, Vestcap Investment M... Price $63.000 Owned Unknown
DON'T BUY	National Bank of Canada(NA-T) July 3, 2018 National Bank (NA-T) vs other banks. These smaller banks are more regional (Quebec in this case). The Quebec economy is doing well. The underlying business is more capital focused and therefore more volatile in his mind. He would still prefer to own the major banks, which are trading relatively cheaply, he thinks. banks 0 0 0 0 0 0 comments	National Bank (NA-T) vs other banks. These smaller banks are more regional (Quebec in this case). The Quebec economy is doing well. The underlying business is more capital focused and therefore more volatile in his mind. He would still prefer to own the major banks, which are trading relatively cheaply, he thinks. banks 0 0 0 0 0 0 comments Ryan Bushell President, Newhaven Asset Manag... Price $62.660 Owned No

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