Compare Preferred Shares Of The Canadian Banks
Using these tables you can compare all the preferred shares issued by the Canadian Banks. We have included all of the big five (Royal Bank, CIBC, BNS, BMO, TD) and a couple of the smaller ones (Canadian Western Bank, Laurentian Bank). All types of preferred’s are included (perpetual, fixed, floating) in one table. We present the information in an easy, to view and understand format. As a result you can pick the right share to purchase or sell.
Compare Bank Preferred Shares Process
Each investor has a unique selection process. Consequently the same metric is viewed differently. That is to say, the weight assigned to the metric differs for each investor, thus resulting in a dissimilar selection.
- Some investors, looking for high yield over the next 5 years, will put more emphasis on the “Blended Yield” metric. As a result, the issue with the most dividend over the next 5 years is selected.
- More weight should be given to the “Credit Rating” metric, if you are looking for the highest credit worthy issues. That is to say, sacrificing some yield for security, is a good fit for the long term and “buy and hold” investors.
- Good value is indicated by the metric “Rate Increase Percent”. This also highlights the stocks with the most room for capital gains, if rates start going up. A value investor may find this appealing.
Conclusion
We expect each investor, to review the various metrics, and make a determination on the totality of their values. While at the same time expressing their personal investing style. In other words we present you with the information and you make a choice you are comfortable with.
Two tables are provided here. Review both, since the information provided contributes to the selection process.
If you need more information on how to use the metrics below, see our how to YouTube video or our post how to pick the best preferred share of a company.
Table To Compare Preferred Shares Of The Canadian Banks
The following metrics are now only available on the premium version of this tool:
- Reset Date.
- Reset (Yield | Dividend). Represents the yield and dividend for the current issue after the upcoming reset. For this calculation it’s assumed the key rates are going to be the same as todays published rates. The reset yield is the sum of the key rate for the base term (5YR, 3Month, etc) plus the published spread. Since we do not know what the key rate will be at the time of the reset we assume its going to be the same as today. The ability to use a different set of rates during this caclulation is planned for a future release.
- Blended (Yield | Dividend).
- Rate Change Percent.
- Rate Change To Value.
- New Spread Change. It shows the effect or the current price on the issue spread of the preferred. It shows the percent increase/decrease of the new spread
- New Spread Value.
- Short Position.
- Additional Features.
- Years To Double Initial Investment. How many years will it take for the initial investment to double.
- Outstanding float.
- Market Cap In Bilions.
- Common Stock P/E Ratio.
- Common Stock P/B Ratio.
- Common Stock Yield.
(EST: UTC-05:00)Last Updated: Market Data 2024-Dec-20 16:41, Model Metrics 2024-Dec-20 17:10
Here is a Limited Version of the Premium - Compare Tool.
A limited number of rows is included with the full metrics. This is a sample only. See link at footer for information on subscription to the premium version
(EST: UTC-05:00)Last Updated: Market Data 2024-Dec-20 16:41, Model Metrics 2024-Dec-20 17:10
| Credit Rating | Symbol | Price | 52W High | 52W Low | Fixed Rate Baseyield and dividend for the current issue based on last night’s closing stock price | Current (Yield Dividend) | Reset (Yield Dividend)yield and dividend for the current issue after the upcoming reset | Blended (Yield Dividend)follow link passed the end of the table to see definition | Yield To Call | Reset Date Y/M/D | Pay Div Date | Ex Div Date | Rate Change percent | Rate Change to value | New Spread value | Short Position | Additional Features | Converts To | Years To Double Initial Investment | P/E Ratio | Market Cap In Billions | P/B Ratio | Common Stock Yield | Projected Common Stock Yield | Outstanding Float | Name |
|---|
Reset Scenarios Based on Various G.O.C. 5 Year Bond Yield Rates
The following table presents 6 scenarios, of the issues resetting based on different 5 Year Bond rates. Each scenario consists of 3 columns and grouped by color. The rates assumed for the reset are as follows:
- Scenario 1: 5YR GOC Rate is set at 1.50%
- Scenario 2: 5YR GOC Rate is set at 2.00%
- Scenario 3: 5YR GOC Rate is set at 2.50%
- Scenario 4: 5YR GOC Rate is set at 3.0%
- Scenario 5: 5YR GOC Rate is set at 3.50%
- Scenario 6: 5YR GOC Rate is set at 4.00%
Note: Only the first 3 "What if scenarios" of the total 6 are available on the Free Site. All 6 scenarios can be viewed in the premium site
For more information please review our video and/or post. Links available at the bottom of the page
Rank Preferreds - Compare Reset Scenarios
(EST: UTC-05:00)Last Updated: Market Data 2024-Dec-20 16:41, Model Metrics 2024-Dec-20 17:10
| Credit Rating | Symbol | Reset Date Y/M/D | Current (Yield Dividend) | 5Yr @ 1.50%. Reset (Yield Dividend)Scenario: 1 yield and dividend based on GOC 5yr Rate of 5Yr @ 1.50%. | 5Yr @ 1.50%. Blended (Yield Dividend) | 5Yr @ 1.50%. Rate Change (percent | to value ) | 5Yr @ 2.00%. Reset (Yield Dividend)Scenario: 2 yield and dividend based on GOC 5yr Rate of 5Yr @ 2.00%. | 5Yr @ 2.00%. Blended (Yield Dividend) | 5Yr @ 2.00%. Rate Change (percent | to value ) | 5Yr @ 2.50%. Reset (Yield Dividend)Scenario: 3 yield and dividend based on GOC 5yr Rate of 5Yr @ 2.50%. | 5Yr @ 2.50%. Blended (Yield Dividend) | 5Yr @ 2.50%. Rate Change (percent | to value ) |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| NR | VBNK-A VBNK.PR.A | 2024NOV01 | 06.76% $0.6760 | 6.94% $0.69 | 06.93% $0.69 | 000% 6.94% | 7.44% $0.74 | 07.43% $0.74 | 000% 7.44% | 7.94% $0.79 | 07.93% $0.79 | 000% 7.94% |
| Pfd3 | FN-A FN.PR.A CA33564P2026 | 2026MAR31 | 04.99% $0.723750 | 6.16% $0.89 | 05.80% $0.84 | 072% 6.16% | 7.02% $1.02 | 06.42% $0.93 | 072% 7.02% | 7.88% $1.14 | 07.00% $1.01 | 072% 7.88% |
| Pfd3 | LB-H LB.PR.H CA51925D8254 | 2029JUN15 | 07.37% $1.5490 | 4.82% $1.01 | 07.11% $1.49 | 019% 4.82% | 5.42% $1.14 | 07.18% $1.50 | 019% 5.42% | 6.01% $1.26 | 07.23% $1.52 | 019% 6.01% |
| Pfd3 | CWB-D CWB.PR.D CA1367658806 | 2029APR30 | 07.14% $1.9128 | 5.17% $1.39 | 06.94% $1.86 | -6% 5.17% | 5.63% $1.51 | 06.98% $1.87 | -6% 5.63% | 6.10% $1.64 | 07.03% $1.88 | -6% 6.10% |
| Pfd2 | NA-G NA.PR.G CA63306A2056 | 2028NOV15 | 06.72% $1.7640 | 4.07% $1.07 | 06.19% $1.62 | -4% 4.07% | 4.54% $1.19 | 06.28% $1.64 | -4% 4.54% | 5.02% $1.32 | 06.38% $1.67 | -4% 5.02% |
| Pfd2 | NA-C NA.PR.C CA6330672289 | 2027NOV15 | 06.63% $1.7568 | 4.65% $1.23 | 05.83% $1.54 | -5% 4.65% | 5.12% $1.36 | 06.03% $1.59 | -5% 5.12% | 5.59% $1.48 | 06.21% $1.64 | -5% 5.59% |
| Pfd2H | BMO-E BMO.PR.E CA06368B2075 | 2028NOV25 | 06.51% $1.7040 | 3.99% $1.05 | 06.00% $1.57 | -4% 3.99% | 4.47% $1.17 | 06.10% $1.59 | -4% 4.47% | 4.95% $1.30 | 06.20% $1.62 | -4% 4.95% |
| Pfd3 | CWB-B CWB.PR.B CA1367655000 | 2029APR30 | 06.30% $1.5928 | 4.21% $1.07 | 06.09% $1.54 | -1% 4.21% | 4.71% $1.19 | 06.14% $1.55 | -1% 4.71% | 5.20% $1.32 | 06.19% $1.56 | -1% 5.20% |
| Pfd2 | NA-S NA.PR.S CA6330673196 | 2029MAY15 | 06.15% $1.5478 | 3.88% $0.97 | 05.92% $1.49 | -0% 3.88% | 4.37% $1.10 | 05.97% $1.50 | -0% 4.37% | 4.87% $1.23 | 06.02% $1.51 | -0% 4.87% |
| Pfd2H | TD.PF.I TD.PF.I CA8911606405 | 2027OCT31 | 06.10% $1.5753 | 4.37% $1.13 | 05.41% $1.39 | -3% 4.37% | 4.85% $1.25 | 05.59% $1.44 | -3% 4.85% | 5.34% $1.38 | 05.80% $1.49 | -3% 5.34% |
| Pfd2 | NA-E NA.PR.E CA6330671943 | 2028MAY15 | 05.82% $1.4545 | 4.08% $1.02 | 05.29% $1.32 | 000% 4.08% | 4.58% $1.15 | 05.45% $1.36 | 000% 4.58% | 5.08% $1.27 | 05.59% $1.39 | 000% 5.08% |
| Pfd2H | TD.PF.J TD.PF.J CA8911606249 | 2028APR30 | 05.69% $1.4368 | 4.16% $1.05 | 05.23% $1.32 | -0% 4.16% | 4.65% $1.18 | 05.38% $1.35 | -1% 4.65% | 5.15% $1.30 | 05.52% $1.39 | -0% 5.15% |
| Pfd1L | RY-S RY.PR.S CA78013R3909 | 2029FEB24 | 05.74% $1.4713 | 3.78% $0.97 | 05.44% $1.39 | -2% 3.78% | 4.27% $1.10 | 05.52% $1.41 | -2% 4.27% | 4.76% $1.22 | 05.59% $1.43 | -2% 4.76% |
| Pfd2 | CM-S CM.PR.S CA1360708772 | 2028JAN31 | 05.76% $1.4695 | 3.87% $0.98 | 05.10% $1.30 | -2% 3.87% | 4.36% $1.11 | 05.26% $1.34 | -2% 4.36% | 4.85% $1.24 | 05.44% $1.38 | -2% 4.85% |
| Pfd2H | TD.PF.D TD.PF.D CA8911456330 | 2025JUL31 | 03.29% $0.8003 | 4.41% $1.07 | 04.23% $1.02 | 002% 4.41% | 4.92% $1.20 | 04.68% $1.14 | 002% 4.92% | 5.44% $1.32 | 05.10% $1.24 | 002% 5.44% |
| Pfd1L | RY-J RY.PR.J CA78012Q1129 | 2025MAY24 | 03.23% $0.8000 | 4.29% $1.06 | 04.18% $1.03 | 001% 4.29% | 4.79% $1.19 | 04.65% $1.15 | 001% 4.79% | 5.30% $1.31 | 05.09% $1.25 | 001% 5.30% |
| Pfd2H | TD.PF.E TD.PF.E CA8911456173 | 2025OCT31 | 03.33% $0.8105 | 4.50% $1.09 | 04.25% $1.03 | 002% 4.50% | 5.01% $1.22 | 04.68% $1.13 | 002% 5.01% | 5.53% $1.34 | 05.08% $1.23 | 002% 5.53% |
| Pfd2 | CM-Q CM.PR.Q CA1360693909 | 2025JUL31 | 03.19% $0.7858 | 4.35% $1.07 | 04.16% $1.02 | 001% 4.35% | 4.86% $1.20 | 04.61% $1.13 | 001% 4.86% | 5.37% $1.32 | 05.02% $1.23 | 001% 5.37% |
| Pfd2H | BMO-Y BMO.PR.Y CA06367X2005 | 2025AUG25 | 03.11% $0.7635 | 4.29% $1.05 | 04.10% $1.00 | 001% 4.29% | 4.80% $1.18 | 04.55% $1.11 | 001% 4.80% | 5.31% $1.30 | 04.96% $1.21 | 001% 5.31% |
| Pfd2H | TD.PF.A TD.PF.A CA8911456900 | 2029OCT31 | 05.38% $1.2425 | 4.05% $0.93 | 05.37% $1.24 | 008% 4.05% | 4.59% $1.06 | 05.37% $1.24 | 008% 4.59% | 5.13% $1.19 | 05.37% $1.24 | 008% 5.13% |
| Pfd2H | TD.PF.C TD.PF.C CA8911456587 | 2025JAN31 | 03.92% $0.9692 | 3.79% $0.93 | 03.80% $0.93 | 001% 3.79% | 4.30% $1.06 | 04.27% $1.05 | 001% 4.30% | 4.81% $1.19 | 04.77% $1.17 | 001% 4.81% |
| Pfd1L | RY-M RY.PR.M CA78012T4708 | 2025NOV24 | 03.05% $0.7500 | 4.19% $1.03 | 03.96% $0.97 | 001% 4.19% | 4.70% $1.16 | 04.38% $1.07 | 001% 4.70% | 5.21% $1.28 | 04.77% $1.17 | 001% 5.21% |
| Pfd2 | NA-W NA.PR.W CA6330672859 | 2025FEB15 | 03.82% $0.9596 | 3.74% $0.93 | 03.74% $0.93 | -0% 3.74% | 4.23% $1.06 | 04.20% $1.05 | -0% 4.23% | 4.73% $1.19 | 04.69% $1.17 | -0% 4.73% |
| Pfd2H | BMO-W BMO.PR.W CA0636798807 | 2024NOV25 | 03.85% $0.9628 | 3.72% $0.93 | 03.72% $0.93 | 000% 3.72% | 4.22% $1.06 | 04.22% $1.05 | 000% 4.22% | 4.72% $1.18 | 04.67% $1.16 | 000% 4.72% |
| Pfd2 | CM-P CM.PR.P CA1360694246 | 2025JAN31 | 03.89% $0.9772 | 3.72% $0.93 | 03.72% $0.93 | -0% 3.72% | 4.22% $1.06 | 04.19% $1.05 | -0% 4.22% | 4.71% $1.19 | 04.69% $1.17 | -0% 4.71% |