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.

  1. 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.
  2. 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.
  3. 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:


  1. Reset Date.
  2. Reset (Yield | Dividend).
  3. Blended (Yield | Dividend). A (What If) scenario. It represents the blended yield and dividend for the current issue. It should only be used as a reference. It is not meant to show actual returns for Yield/Dividend. This metric has merit only when applied across all issues being considered.
  4. Rate Change Percent.
  5. Rate Change To Value.
  6. New Spread Change.
  7. New Spread Value. This reflects the effect or the current price on the issue spread of the preferred. It shows the effective new spread of the share due to its drop or rise of its share value
  8. Short Position.
  9. Additional Features.
  10. Years To Double Initial Investment.
  11. Outstanding float. This is the outstanding float for this preferred.
  12. Market Cap In Bilions.
  13. Common Stock P/E Ratio.
  14. Common Stock P/B Ratio.
  15. Common Stock Yield. Current yield of the common. Should be considered if preferred yield is lower.
(EST: UTC-05:00)Last Updated: Market Data 2024-Nov-08 16:46, Model Metrics 2024-Nov-09 16:34
Credit RatingSymbolPrice52W High52W Low
Fixed Rate Baseyield and dividend for the current issue based on last night’s closing stock price
Current (Yield Dividend)Name
Pfd1LRY-O RY.PR.O CA78013K6016 $23.92$24.65$20.20PERPETUAL @ 4.90%05.14% $1.2300Royal_Bank_of_Canada_4.90%,_Series_BI_-_NVC
Pfd1LRY-N RY.PR.N CA78013J4550 $24.00$24.82$20.12PERPETUAL @ 4.90%05.12% $1.2300Royal Bank of Canada 4.90%, Series BH - NVC
Pfd3FN-A FN.PR.A CA33564P2026 $13.10$13.60$10.265YR + 2.07%05.52% $0.723750First_National_Financial_Corp._2.79%,_Series_1
NRVBNK-A VBNK.PR.A $9.99$10.20$9.365YR + 5.43%06.76% $0.6760Non-Cumulative_5-Year_Rate_Reset_Preferred_Shares,_Series_1
Pfd3LB-H LB.PR.H CA51925D8254 $20.52$23.10$14.375YR + 2.55%07.55% $1.5490Preferred_Shares_Series_13
Pfd3CWB-D CWB.PR.D CA1367658806 $27.28$27.62$24.055YR + 4.04%07.01% $1.9128Non-Cumulative_5-Year_Rate_Reset_First_Preferred_Shares_Series_9
Pfd2NA-G NA.PR.G CA63306A2056 $25.95$26.40$23.215YR + 2.77%06.80% $1.7640National_bank_SRS_42
Pfd2NA-C NA.PR.C CA6330672289 $26.05$26.43$24.355YR + 3.43%06.74% $1.7568National_bank_SRS_38
Pfd2HBMO-E BMO.PR.E CA06368B2075 $26.20$26.72$22.655YR + 2.68%06.50% $1.7040Bank_of_Montreal_4.85%,_Series_44_-_NVC
Pfd3CWB-B CWB.PR.B CA1367655000 $25.13$25.75$17.715YR + 2.76%06.34% $1.5928Canadian_Western_Bank_4.40%.,_Series_5_-_NVCC
Pfd2NA-S NA.PR.S CA6330673196 $24.81$25.50$18.285YR + 2.40%06.24% $1.5478National_bank_SRS_30_
Pfd2HTD.PF.I TD.PF.I CA8911606405 $25.88$26.10$23.055YR + 3.01%06.08% $1.5753Toronto-Dominion_Bank_4.50%,_Series_16_-_NVCC
Pfd2NA-E NA.PR.E CA6330671943 $24.60$25.10$20.265YR + 2.58%05.91% $1.4545National_bank_SRS_40
Pfd2CM-S CM.PR.S CA1360708772 $24.98$25.18$20.255YR + 2.45%05.88% $1.4695Canadian_Imperial_Bank_of_Commerce_4.50%,_Series_47_-_NVCC
Pfd2HTD.PF.J TD.PF.J CA8911606249 $25.02$25.41$20.705YR + 2.70%05.74% $1.4368Toronto-Dominion_Bank_4.70%,_Series_18_-_NVC
Pfd1LRY-S RY.PR.S CA78013R3909 $25.49$25.72$21.105YR + 2.38%05.77% $1.4713Royal_Bank_of_Canada_4.80%,_Series_BO_-_NVCC_
Pfd2HTD.PF.D TD.PF.D CA8911456330 $24.12$24.46$17.385YR + 2.79%03.32% $0.8003Toronto-Dominion_Bank_3.60%,_Series_7_-_NVC
Pfd2HTD.PF.E TD.PF.E CA8911456173 $23.95$24.20$17.575YR + 2.87%03.38% $0.8105Toronto-Dominion_Bank_3.70%,_Series_9_-_NVC
Pfd2HTD.PF.C TD.PF.C CA8911456587 $23.30$24.70$16.825YR + 2.25%04.16% $0.9692Toronto-Dominion_Bank_3.75%,_Series_5_-_NVC
Pfd2CM-Q CM.PR.Q CA1360693909 $24.50$24.52$17.305YR + 2.79%03.21% $0.7858Canadian_Imperial_Bank_of_Commerce_3.60%,_Series_43_-_NVCC
Pfd1LRY-J RY.PR.J CA78012Q1129 $24.36$24.74$17.795YR + 2.74%03.28% $0.8000Royal_Bank_of_Canada_3.60%,_Series_BD_-_NVCC_
Pfd2HTD.PF.A TD.PF.A CA8911456900 $22.95$24.65$17.235YR + 2.24%05.41% $1.2425Toronto-Dominion_Bank_3.90%,_Series_1-_NVCC_
Pfd2NA-W NA.PR.W CA6330672859 $23.80$23.88$16.495YR + 2.25%04.03% $0.9596National_bank_SRS_33
Pfd2HBMO-Y BMO.PR.Y CA06367X2005 $24.31$24.63$17.045YR + 2.71%03.14% $0.7635Bank_of_Montreal_3.80%,_Series_33
Pfd2CM-P CM.PR.P CA1360694246 $24.70$24.75$16.555YR + 2.24%03.95% $0.9772Canadian_Imperial_Bank_of_Commerce_3.75%,_Series_41_-_NVCC
Pfd2HBMO-W BMO.PR.W CA0636798807 $24.95$25.17$16.845YR + 2.22%03.86% $0.9628Bank_of_Montreal_3.80%,_Series_31_-_NVC
Pfd1LRY-M RY.PR.M CA78012T4708 $24.06$24.26$17.015YR + 2.62%03.12% $0.7500Royal_Bank_of_Canada_3.60%,_Series_BF_-_NVCC_
 
 

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-Nov-08 16:46, Model Metrics 2024-Nov-09 16:34
Credit RatingSymbolPrice52W High52W 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 CallReset Date Y/M/DPay Div DateEx Div DateRate Change percentRate Change to valueNew Spread valueShort PositionAdditional FeaturesConverts ToYears To Double Initial InvestmentP/E RatioMarket Cap In BillionsP/B RatioCommon Stock YieldProjected Common Stock YieldOutstanding FloatName


 
 

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-Nov-08 16:46, Model Metrics 2024-Nov-09 16:34
Credit RatingSymbolReset Date Y/M/DCurrent (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 )
Pfd3FN-A FN.PR.A CA33564P2026 2026MAR3105.52% $0.7237506.81% $0.8906.42% $0.84090% 6.81%7.77% $1.0207.10% $0.93090% 7.77%8.72% $1.1407.74% $1.01090% 8.72%
NRVBNK-A VBNK.PR.A 2024NOV0106.76% $0.67606.94% $0.6906.92% $0.69000% 6.94%7.44% $0.7407.40% $0.73000% 7.44%7.94% $0.7907.87% $0.78000% 7.94%
Pfd3LB-H LB.PR.H CA51925D8254 2029JUN1507.55% $1.54904.93% $1.0107.41% $1.52021% 4.93%5.54% $1.1407.44% $1.52021% 5.54%6.15% $1.2607.47% $1.53021% 6.15%
Pfd3CWB-D CWB.PR.D CA1367658806 2029APR3007.01% $1.91285.08% $1.3906.82% $1.86-8% 5.08%5.54% $1.5106.86% $1.87-8% 5.54%5.99% $1.6406.91% $1.88-8% 5.99%
Pfd2NA-G NA.PR.G CA63306A2056 2028NOV1506.80% $1.76404.11% $1.0706.39% $1.65-3% 4.11%4.60% $1.1906.46% $1.67-3% 4.60%5.08% $1.3206.54% $1.69-3% 5.08%
Pfd2NA-C NA.PR.C CA6330672289 2027NOV1506.74% $1.75684.73% $1.2306.03% $1.57-4% 4.73%5.21% $1.3606.21% $1.61-4% 5.21%5.69% $1.4806.37% $1.65-4% 5.69%
Pfd2HBMO-E BMO.PR.E CA06368B2075 2028NOV2506.50% $1.70403.99% $1.0506.12% $1.60-4% 3.99%4.47% $1.1706.19% $1.62-4% 4.47%4.94% $1.3006.27% $1.64-4% 4.94%
Pfd3CWB-B CWB.PR.B CA1367655000 2029APR3006.34% $1.59284.24% $1.0706.13% $1.54-0% 4.24%4.74% $1.1906.17% $1.55-0% 4.74%5.23% $1.3206.22% $1.56-0% 5.23%
Pfd2NA-S NA.PR.S CA6330673196 2029MAY1506.24% $1.54783.93% $0.9706.12% $1.51000% 3.93%4.43% $1.1006.14% $1.52000% 4.43%4.94% $1.2306.17% $1.53000% 4.94%
Pfd2HTD.PF.I TD.PF.I CA8911606405 2027OCT3106.08% $1.57534.36% $1.1305.39% $1.39-3% 4.36%4.84% $1.2505.58% $1.44-3% 4.84%5.32% $1.3805.78% $1.49-3% 5.32%
Pfd2NA-E NA.PR.E CA6330671943 2028MAY1505.91% $1.45454.15% $1.0205.47% $1.34001% 4.15%4.65% $1.1505.60% $1.37001% 4.65%5.16% $1.2705.72% $1.40001% 5.16%
Pfd2CM-S CM.PR.S CA1360708772 2028JAN3105.88% $1.46953.95% $0.9805.20% $1.30000% 3.95%4.45% $1.1105.37% $1.34000% 4.45%4.95% $1.2405.56% $1.38000% 4.95%
Pfd2HTD.PF.J TD.PF.J CA8911606249 2028APR3005.74% $1.43684.20% $1.0505.27% $1.32000% 4.20%4.70% $1.1805.43% $1.35000% 4.70%5.20% $1.3005.57% $1.39000% 5.20%
Pfd1LRY-S RY.PR.S CA78013R3909 2029FEB2405.77% $1.47133.81% $0.9705.57% $1.42-1% 3.81%4.30% $1.1005.62% $1.43-1% 4.30%4.79% $1.2205.67% $1.44-1% 4.79%
Pfd2HTD.PF.D TD.PF.D CA8911456330 2025JUL3103.32% $0.80034.45% $1.0704.26% $1.02003% 4.45%4.96% $1.2004.72% $1.14003% 4.96%5.48% $1.3205.14% $1.24003% 5.48%
Pfd2HTD.PF.E TD.PF.E CA8911456173 2025OCT3103.38% $0.81054.56% $1.0904.31% $1.03004% 4.56%5.08% $1.2204.75% $1.13004% 5.08%5.61% $1.3405.15% $1.23004% 5.61%
Pfd2HTD.PF.C TD.PF.C CA8911456587 2025JAN3104.16% $0.96924.02% $0.9304.03% $0.93007% 4.02%4.56% $1.0604.52% $1.05007% 4.56%5.10% $1.1905.05% $1.17007% 5.10%
Pfd2CM-Q CM.PR.Q CA1360693909 2025JUL3103.21% $0.78584.38% $1.0704.19% $1.02002% 4.38%4.89% $1.2004.64% $1.13002% 4.89%5.40% $1.3205.06% $1.23002% 5.40%
Pfd1LRY-J RY.PR.J CA78012Q1129 2025MAY2403.28% $0.80004.35% $1.0604.19% $1.02002% 4.35%4.86% $1.1904.64% $1.13002% 4.86%5.38% $1.3105.06% $1.23002% 5.38%
Pfd2HTD.PF.A TD.PF.A CA8911456900 2029OCT3105.41% $1.24254.07% $0.9305.41% $1.24008% 4.07%4.62% $1.0605.41% $1.24008% 4.62%5.16% $1.1905.41% $1.24008% 5.16%
Pfd2NA-W NA.PR.W CA6330672859 2025FEB1504.03% $0.95963.94% $0.9303.95% $0.94005% 3.94%4.46% $1.0604.41% $1.04004% 4.46%4.99% $1.1904.90% $1.16005% 4.99%
Pfd2HBMO-Y BMO.PR.Y CA06367X2005 2025AUG2503.14% $0.76354.33% $1.0504.08% $0.99002% 4.33%4.84% $1.1804.51% $1.09002% 4.84%5.36% $1.3004.90% $1.19002% 5.36%
Pfd2CM-P CM.PR.P CA1360694246 2025JAN3103.95% $0.97723.79% $0.9303.79% $0.93001% 3.79%4.29% $1.0604.27% $1.05001% 4.29%4.80% $1.1904.77% $1.17001% 4.80%
Pfd2HBMO-W BMO.PR.W CA0636798807 2024NOV2503.86% $0.96283.73% $0.9303.73% $0.93000% 3.73%4.23% $1.0604.22% $1.05000% 4.23%4.73% $1.1804.68% $1.16000% 4.73%
Pfd1LRY-M RY.PR.M CA78012T4708 2025NOV2403.12% $0.75004.28% $1.0303.99% $0.96003% 4.28%4.80% $1.1604.39% $1.05003% 4.80%5.32% $1.2804.76% $1.14003% 5.32%