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Desjardins-Laurentian Financial Corp owns 57.5% of LB, also insurance companies and Desjardins Securities Ltd. They've just made a deal to sell a mutual fund operation--see my posts under BPI Financial for info on that. I felt that DJN.A was lagging the rest of the bank group (as is LB) and that earnings growth would soon show up in the price. Current PE 7.4 and rising. Listed TSE, trades more on ME. For me right now, DJN.A is a hold, I'm considering reducing CWB, and clearing out CM, on any strength this week, and looking into SVA (currently halted). Over the years, and especially the last year, the banks have done me well--but I think the best gains are behind us now. Midland likes best NA, LB--doesn't cover DJN.A, SMS, CWB. The same analyst covers GTA, PEM. I don't think a little DJN.A would bite you, at least until the flakes are on a roll again...BTW, LB is considered the bank most protected from interest rate rises... |
