The Best Banks Stocks In Canada 2020, we’ve witnessed the Stock market volatility this year has probably had many investors wishing they weren’t invested in the stock market.
In times like these, we need to remind ourselves that if we can see more than 20% growth in one year, years like 2020 will happen.
The Great Recession just over a decade ago likely has scared many investors from owning bank stocks. However, Canadian banks have rebounded very well since 2009.
Today, Canadian bank stocks can provide shareholders with stability, growth potential, and a healthy dividend.
Dividend yield
Banking is one of the top industries for dividend-income investors in Canada. Each of the top six Canadian banks pays a very respectable dividend today, and TD is no different.
The bank currently pays an annual dividend of $3.16 per share, spread out over four quarterly dividend checks. At a stock price of $67, a $3.16 dividend is equal to a very respectable yield of 4.70%.
If a $10,000 investment was made today in TD, investors could expect to receive a check of $117 four times a year.
Here Are The Best Banks Stocks In Canada 2020
7.Laurentian Bank ( LB.TO )
Laurentian Bank is a leading Canadian bank, providing a broad range of advice-based solutions and services. Laurentian Bank caters to retail clients, small and medium-sized enterprises and real estate developers.
- Dividend yield: 5.45%
- Market Cap: $1.28 Billion
6.Canadian Western Bank (CWB.TO)
Canadian Western Bank is a bank in Canada. It is a part of the CWB Financial Group; the bank provides specialized financial services in business and personal banking and wealth management services to small and medium-sized companies.
- Dividend yield: 4.11%
- Market Cap: $2.47 Billion
5.National Bank ( NA.TO)
National Bank is a leading financial institution, ranking amongst the six largest commercial banks in Canada; National Bank’s business can be divided into – Personal and commercial banking, which accounts for nearly 45% of National Bank’s revenue, followed by financial markets (23%), Wealth management (23%), and US specialty finance and international (9%). It has over $281 billion in assets as of October 2019.
- Dividend yield: 4.06%
- Market Cap: $23.49 Billion
5.CIBC (CM.TO)
Canadian Imperial Bank of Commerce is a leading financial institution in North America; the bank caters to 10 million individuals, businesses, commercial, corporate and institutional clients in Canada, the U.S. and around the world. CIBC operates through a vast network of more than 1000 banking centers, over 3,000 ATMs,
- Dividend yield: 5.36%
- Market Cap: $48.56 Billion
4.Bank of Montreal (BMO.TO)
Bank of Montreal is a diversified financial services provider and the eighth largest bank in North America by assets. Bank of Montreal provides an extensive portfolio of products and services in personal and commercial banking, wealth management and investment banking to a diversified range of customers, including more than 12 million individuals, businesses, governments and corporate customers across Canada and the United States
- Dividend yield: 4.73%
- Market Cap: $58.38 Billion
3.Scotia Bank (BNS.TO)
The Bank of Nova Scotia or Scotiabank is a leading international bank in Canada. The bank provides a broad range of products and services in personal and commercial banking, wealth management, private banking, corporate and investment banking, and capital markets.
The bank has a presence across Canada (55% of 2019 earnings), the Pacific Alliance countries (23%), the U.S. (9%), the Caribbean region (5%), and international markets (8%) of Europe, Asia, Australia. Canada’s six key markets, the U.S. and the Pacific Alliance countries, contribute over 80% of the bank’s earnings.
- Dividend yield: 5.80%
- Market Cap: $75.94 Billion
2.TD Bank (TD.TO)
Toronto Dominion Bank, or TD Bank, is the fifth-largest bank in North America (by the number of branches). The bank offers a full range of financial products and services to more than 26 million customers worldwide.
Canadian retail accounting for 55% of earnings (TD Canada Trust, Business Banking, TD Auto Finance, TD Wealth, TD Direct Investing and TD Insurance), US retail (40% – TD Bank, TD Auto Finance, TD Wealth and investment in TD Ameritrade), and Wholesale banking (5% – TD Securities).
- Dividend yield: 4.70%
- Market Cap: $121.7 Billion
1.Royal Bank (RY.TO)
Royal Bank is Canada’s largest bank. It is a diversified financial services company offering personal and commercial banking, wealth management, insurance, investor services, and capital markets products and services. Royal Bank is a premier provider of selected global financial services and one of the top five global wealth managers by assets.
Royal Bank ranks amongst the largest banks in the world based on market capitalization. It serves 17 million clients in Canada, the U.S., and 34 other countries. Canada is its largest market accounting for 61% of revenues by geography, followed by the US (23%) and other countries (16%). It operates 35 offices in 23 US states.
- Dividend yield: 4.25%
- Market Cap: $147.1 Billion
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