Considering investing in Canadian bank stocks? While the best Canadian bank stocks depend on your portfolio and investment goals, we've identified some Canadian bank stocks that are worth keeping an eye on in the financial services sector. Keep reading to learn more about Canadian bank stocks and how to start investing.
We round up a selection of stocks in or related to the financial services industry, weighting the list more heavily towards popular mid- and large-cap stocks.
| Best stock | 1-year return | Market cap | Exchange | Volume | Buy on Questrade |
|---|---|---|---|---|---|
| Royal Bank of Canada (RY.TO) | 64.02% | $387 billion (CAD) | Toronto Stock Exchange | 5,605,524 | Buy now |
| Toronto Dominion Bank (TD.TO) | 80.24% | $271.4 billion (CAD) | Toronto Stock Exchange | 7,031,106 | Buy now |
| Bank of Montreal (BMO.TO) | 71.31% | $164.9 billion (CAD) | Toronto Stock Exchange | 2,471,884 | Buy now |
| Bank of Nova Scotia (BNS.TO) | 68.51% | $146.7 billion (CAD) | Toronto Stock Exchange | 6,408,842 | Buy now |
| Canadian Imperial Bank Of Commerce (CM.TO) | 70.49% | $145.3 billion (CAD) | Toronto Stock Exchange | 3,064,426 | Buy now |
| National Bank of Canada (NA.TO) | 68.79% | $81.3 billion (CAD) | Toronto Stock Exchange | 2,534,800 | Buy now |
| EQB (EQB.TO) | 33.85% | $4.5 billion (CAD) | Toronto Stock Exchange | 260,300 | Buy now |
| VersaBank (VBNK.TO) | 74.88% | $864.1 million (CAD) | Toronto Stock Exchange | 37,216 | Buy now |
| Laurentian Bank Of Canada (LB.TO) | 39.73% | $1.8 billion (CAD) | Toronto Stock Exchange | 108,388 | Buy now |
The financial services industry is affected by a range of complex factors such as trade policies, regulations, and fluctuating supply and demand. So when considering Canadian bank stocks to buy, it's important that you have access to vital information about a company's financial health, leadership team, and market positioning.
Also keep in mind that, while volatility can be ideal for day traders, long-term investors will want to look for stocks to offer steadier gains over time.
A lot of factors go into picking the best Canadian bank stocks. Stock performance can be impacted by factors like market conditions, company decisions and global events. Plus, what may be a strong Canadian bank stock investment for one person might not be suitable for another.
That said, we rounded up this list of popular Canadian bank stocks in or related to the financial services industry to help narrow down your options:
Keep in mind that this is not a "best" list or a recommendation. It highlights some Canadian bank stocks for informational purposes only and does not indicate past or future performance or investment advice. We do not guarantee any investment performance.
We've outlined detailed company and stock performance details for each Canadian bank stock below. Keep reading to decide if any of these companies are the right investment for you.
Royal Bank of Canada operates as a diversified financial service company worldwide. Its Personal Banking segment offers home equity financing, personal lending, chequing and savings accounts, private banking, auto financing, mutual funds, GICs, credit cards, and payment products and solutions.
The company's Commercial Banking segments provides lending, deposit and transaction banking products and services.
| Closing stock price | C$284.08 |
|---|---|
| Market Capitalization | C$387 billion |
| Gross profit (TTM) | C$65.7 billion |
| Profit margin | 33.69% |
| Revenue (TTM) | C$65.7 billion |
| Earnings per share (TTM) | C$15.37 |
| 52-week stock price range | C$168.46 – C$282.00 |
The Toronto-Dominion Bank, together with its subsidiaries, provides various financial products and services in Canada, the United States, and internationally. It operates through four segments: Canadian Personal and Commercial Banking; U.S. Retail; Wealth Management and Insurance; and Wholesale Banking.
The company offers personal deposits, such as chequing, savings, and investment products; financing, investment, cash management, international trade, and banking services to businesses; and financing options to customers at point of sale for automotive and recreational vehicle purchases.
| Closing stock price | C$169.33 |
|---|---|
| Market Capitalization | C$271.4 billion |
| Gross profit (TTM) | C$59.2 billion |
| Profit margin | 25.19% |
| Revenue (TTM) | C$59.2 billion |
| Earnings per share (TTM) | C$8.53 |
| 52-week stock price range | C$93.23 – C$165.67 |
Bank of Montreal provides diversified financial services primarily in North America. It operates through Canadian Personal and Commercial Banking; U.S. Banking; Wealth Management; and Capital Markets segments.
The company offers checking accounts, savings, money markets and certificates of deposits, debit cards, overdrafts, digital banking, credit cards, loans, mortgages, investment and retirement options, and other banking services; and commercial banking products and services comprise various of financing options and treasury and payment solutions, as well as risk management products.
| Closing stock price | C$245.30 |
|---|---|
| Market Capitalization | C$164.9 billion |
| Gross profit (TTM) | C$34.7 billion |
| Profit margin | 28.06% |
| Revenue (TTM) | C$34.7 billion |
| Earnings per share (TTM) | C$13.02 |
| 52-week stock price range | C$138.18 – C$238.20 |
The Bank of Nova Scotia provides various banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally. It operates through Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets segments.
The company offers financial advice and solutions, and banking products, including debit and credit cards, chequing and saving accounts, investments, mortgages, loans, and insurance to individuals; and retail automotive financing solutions.
| Closing stock price | C$123.48 |
|---|---|
| Market Capitalization | C$146.7 billion |
| Gross profit (TTM) | C$34.2 billion |
| Profit margin | 27.91% |
| Revenue (TTM) | C$34.2 billion |
| Earnings per share (TTM) | C$7.32 |
| 52-week stock price range | C$70.48 – C$122.17 |
Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally. The company operates through Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S. Commercial Banking and Wealth Management; Capital Markets and Direct Financial Services; and Corporate and Other segments.
It offers checking, savings, agriculture, and business accounts; mortgages; business, car, education, home, and other loans; lines of credit and agriculture loans; and cash management, small business financing, and overdraft protection services.
| Closing stock price | C$161.45 |
|---|---|
| Market Capitalization | C$145.3 billion |
| Gross profit (TTM) | C$28.9 billion |
| Profit margin | 33.98% |
| Revenue (TTM) | C$28.9 billion |
| Earnings per share (TTM) | C$10.07 |
| 52-week stock price range | C$90.01 – C$162.12 |
National Bank of Canada provides financial services to individuals, businesses, institutional clients, and governments in Canada and internationally. It operates through four segments: Personal and Commercial, Wealth Management, Financial Markets, and U.S. Specialty Finance and International.
The Personal and Commercial segment offers banking, financing, and investing services to individuals, advisors, and businesses, as well as insurance operations.
| Closing stock price | C$221.68 |
|---|---|
| Market Capitalization | C$81.3 billion |
| Gross profit (TTM) | C$14 billion |
| Profit margin | 32.89% |
| Revenue (TTM) | C$14 billion |
| Earnings per share (TTM) | C$11.31 |
| 52-week stock price range | C$130.21 – C$214.78 |
EQB Inc., through its subsidiary, Equitable Bank, provides personal and commercial banking services to retail and commercial customers in Canada. It accepts term deposits, guaranteed investment certificates, high-interest savings accounts, institutional deposit notes, and covered bonds, as well as specialized financing solutions.
The company also offers single-family residential mortgages, reverse mortgages, and home equity lines of credit, as well as insurance loans.
| Closing stock price | C$126.19 |
|---|---|
| Market Capitalization | C$4.5 billion |
| Gross profit (TTM) | C$1.1 billion |
| Profit margin | 18.70% |
| Revenue (TTM) | C$1.1 billion |
| Earnings per share (TTM) | C$5.09 |
| 52-week stock price range | C$82.57 – C$127.14 |
VersaBank provides various banking products and services in Canada and the United States. The company operates through Digital Banking Canada; Digital Banking USA; and DRTC (cybersecurity services and banking and financial technology development) segments.
It offers deposit products, such as guaranteed investment certificates, registered retirement savings plans, and tax-free savings accounts, as well as deposit insurance products.
| Closing stock price | C$26.84 |
|---|---|
| Market Capitalization | C$864.1 million |
| Gross profit (TTM) | C$137.9 million |
| Profit margin | 22.04% |
| Revenue (TTM) | C$137.9 million |
| Earnings per share (TTM) | C$0.94 |
| 52-week stock price range | C$13.87 – C$28.93 |
Laurentian Bank of Canada, together with its subsidiaries, provides various financial services to personal, commercial, and institutional customers in Canada and the United States. It operates through Personal and Commercial Banking, and the Capital Markets segments.
The company offers chequing, current, business, savings, day by day US dollar, youth, and senior accounts; personal and student line of credit; personal, student, RRSP, and term loans; fixed and variable rate mortgage; equity line of credit; commercial lending; revolving credit; financing solutions; and mortgage and loan insurance.
| Closing stock price | C$40.34 |
|---|---|
| Market Capitalization | C$1.8 billion |
| Gross profit (TTM) | C$884.2 million |
| Profit margin | 3.15% |
| Revenue (TTM) | C$884.2 million |
| Earnings per share (TTM) | C$0.31 |
| 52-week stock price range | C$28.42 – C$40.52 |
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