The Big Six Canadian banks tend to soak up a lot of attention in the domestic financial sector. However,
the TSX also boasts high-quality regional bank stocks that are worth your attention. Today, I want to
compare two of the top bank stocks outside of the Big Six.
Canadian Western Bank (TSX:CWB) is an Edmonton-based regional bank that has also grown its
influence in the eastern part of the country. Shares of this bank stock have plunged 30% in 2022 as of
close on July 28. That has pushed the stock into negative territory in the year-over-year period.
Investors can expect to see its third quarter 2022 earnings on August 26. In Q2 2022, Canadian Western
delivered total revenue growth of 5% to $259 million. Meanwhile, pre-tax, pre-provision income dipped
5% to $120 million. Diluted earnings per share (EPS) remained flat at $0.82. This bank stock possesses a
very favourable price-to-earnings ratio of 6.7. It offers a quarterly dividend of $0.31 per share, which
represents a solid 4.8% yield.
Laurentian Bank (TSX:LB) is a Montreal-based regional bank. Its shares have moved up 0.75% in the
year-to-date period. The stock is still down 1.8% compared to the same period in 2021.
This bank is set to unveil its third quarter 2022 results on August 31. Laurentian Bank posted adjusted
net income growth of 9% to $61.6 million in the second quarter of 2022. Meanwhile, adjusted diluted
EPS jumped 13% to $1.39. This bank stock last had a solid P/E ratio of 29. Laurentian pays out a quarterly
dividend of $0.45 per share. That represents a 4.3% yield.
