Stephen Poloz, current governor of the Bank of Canada, is set to provide an update on Canadian interest rates. He recently cut the rate to 0.5% in July, and many are expecting him to do the same on September 9, 2015. If this occurs, then more than a few financial institutions could see a decline in its share price, including the companies on our list.
Home Capital Group Inc. (TSX: HCG) – $27.93
Banks
Home Capital Group Inc. is a Canada-based holding company that operates through its subsidiary, Home Trust Company (Home Trust). Home Trust is a federally regulated trust company offering insured and uninsured deposits, residential and non-residential commercial mortgage lending, retail credit, credit card issuing services and consumer lending. Home Trust offers deposits via brokers and financial planners, and through its direct to consumer deposit brand, Oaken Financial.
- Market Cap: $1,965,178,067
- Revenue or Interest Income: $909,627,000.00
- Total Equity (LFQ): $1,536,099,000.00
- YTD Price Change: -42.2%
>> Read More: Dividend Killers? 5 Companies That Could Slash Its Payout
United Corporations Ltd. (TSX: UNC) – $82.90
Closed End Funds
United Corporations Limited (United) is a Canada-based closed-end investment company. Its bonds and preferred shares were offered for sale to the public. It is an investment vehicle for long-term growth through investments in common equities. The objective of the Company is to earn an above-average rate of return, primarily through long-term capital appreciation and dividend income. The investment portfolio of the Company comprises a mix of predominantly foreign equities.
- Market Cap: $1,020,338,501
- Revenue or Interest Income: $6,502,000.00
- Total Equity (LFQ): $1,413,545,000.00
- YTD Price Change: 8.8%
>> Read More: Top 5 Overbought Healthcare Stocks
Canadian Western Bank (TSX: CWB) – $22.91
Banks
Canadian Western Bank (CWB) is a bank offering a range of financial services through more than 40 branch locations in Western Canada. The bank offers Personal Banking, Business Banking, and Investing Services.
- Market Cap: $1,793,255,688
- Revenue or Interest Income: $849,147,000.00
- Total Equity (LFQ): $1,896,211,000.00
- YTD Price Change: -31.9%
Callidus Capital Corp. (TSX: CBL) – $12.91
Corporate Financial Services
Callidus Capital Corporation (Callidus) is a Canada-based company engaged in providing financing solutions for companies that are unable to obtain financing from lending institutions. The Company operates a finance business that provides senior secured asset-based loans and lending services to mid-market companies operating in Canada and the United States. Callidus offers loans ranging in size from $5 million to $100 million.
- Market Cap: $640,281,473
- Revenue or Interest Income: $129,796,000.00
- Total Equity (LFQ): $491,445,000.00
- YTD Price Change: -26.5%
