Veryunusual pick for trading but Laurentian Bank shares are now at a very very attractive price. This is the 6th largest bank in Canada and a very profitable one including a great dividend that has been raised twice since a year. (from 0,39 march 31st 2011 to 0,45 now).
One good point is that their collective agreement has been accepted by employees for a 6 years period. (this is one of the rare bank to be unionized))
Another very interesting factor is the PE number. This is the ONLY bank in Canada that has a P/E ratio under 9 (actually 8,9) where all other major banks are near 11 and above. So there is a huge potential for an impressive increase in share price and this very rapidly.
As usual do not invest more than you can afford to lose and always do your own due diligence before investing in any stock.
Get the PLAY OF THE DAY on Twitter: @investman2
One good point is that their collective agreement has been accepted by employees for a 6 years period. (this is one of the rare bank to be unionized))
Another very interesting factor is the PE number. This is the ONLY bank in Canada that has a P/E ratio under 9 (actually 8,9) where all other major banks are near 11 and above. So there is a huge potential for an impressive increase in share price and this very rapidly.
As usual do not invest more than you can afford to lose and always do your own due diligence before investing in any stock.
Get the PLAY OF THE DAY on Twitter: @investman2
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