Today, we have shortlisted 7 Canadian Financial stocks that are relatively undervalued with trailing twelve months Price to Book (P/B) of less than 2. Additionally, these stocks are expected to report strong book value per share growth (>10%) for fiscal year 2014. Moreover, we note that during the past one month, all of the stocks have registered price gains with daily average trading volumes in excess of 100,000.
|
Company Name |
Ticker |
Exchange |
Market Cap |
Last Price |
Average Volume |
Price Change (1-Month) |
Trailing Twelve Months P/B |
BVPS Growth 2014(E) |
|
Laurentian Bank of Canada |
LB |
TSX |
1,461.5 |
50.68 |
110,249 |
3.3% |
1.13 |
11.8% |
|
Calloway Real Estate Investment Trust |
CWT-U |
TSX |
3,677.6 |
27.76 |
365,982 |
1.5% |
1.15 |
10.9% |
|
Genworth MI Canada Inc |
MIC |
TSX |
3,869.2 |
40.72 |
330,344 |
10.7% |
1.16 |
11.8% |
|
Industrial Alliance Insurance & Financial Services Inc |
IAG |
TSX |
4,555.6 |
45.39 |
354,689 |
6.7% |
1.38 |
11.4% |
|
Terra Firma Capital Corp |
TII |
TSXV |
30.0 |
0.74 |
176,068 |
19.4% |
1.43 |
15.4% |
|
Canadian Real Estate Investment Trust |
REF-U |
TSX |
3,369.3 |
48.81 |
176,002 |
0.6% |
1.99 |
14.3% |
|
Canadian Western Bank |
CWB |
TSX |
3,056.4 |
38.03 |
300,565 |
3.0% |
2.00 |
14.5% |
Source: Bloomberg
BVPS: Book Value per Share
Company Description
Laurentian Bank of Canada (TSX: LB)
Laurentian Bank of Canada offers retail banking, agency banking, and commercial and corporate banking products and services to individuals and small to medium sized businesses. The Bank operates through its offices and branches in Canada. Laurentian, through its subsidiaries offers fiduciary and trust products and services, as well as brokerage services.
Calloway Real Estate Investment Trust (TSX: CWT-U)
Calloway Real Estate Investment Trust is an open-ended mutual fund trust that acquires holds, maintains, leases, and manages real property. The company is currently focusing on acquiring shopping centers, office buildings, and industrial buildings located in western Canada.
Genworth MI Canada Inc (TSX: MIC)
Genworth MI Canada Inc provides private residential mortgage insurance in Canada. The company underwrites mortgage insurance on residential properties in all provinces and territories of Canada.
Industrial Alliance Insurance & Financial Services Inc (TSX: IAG)
Industrial Alliance Insurance and Financial Services Inc. is an insurance and financial services company that has operations throughout Canada. The company provides life and health insurance, savings and retirement plans, registered retirement saving plans, investment funds, mortgage loans, securities brokerage services, auto and home insurance, and other financial products and services.
Terra Firma Capital Corp (TSXV: TII)
Terra Firma Capital Corporation is a real estate finance company that provides customized equity and debt solutions to the real estate industry. The company is engaged in the arrangement of and participation in real property financings secured by investment properties and commercial and residential real estate developments, throughout Canada and the United States.
Canadian Real Estate Investment Trust (TSX: REF-U)
Canadian Real Estate Investment Trust is a real estate investment trust which owns and operates a diversified portfolio of properties in Canada. The company’s income producing properties consist of retail, industrial, and office properties.
Canadian Western Bank (TSX: CWB)
Canadian Western Bank is a Schedule I chartered bank which operates in western Canada. The Bank provides commercial loans, energy loans, construction and real estate project financing, and industrial equipment financing. Canadian Western’s retail services include a variety of mortgages, consumer loans, and deposit products.
