Canada bank stocks seen as a buying opportunity as premium to U.S. shrinks

Canadian bank stocks have gotten a whole lot cheaper relative to their U.S. counterparts.

The shares, which have fetched a premium over U.S. lenders for a dozen years, are now trading at their narrowest margin in almost a decade, according to data compiled by Bloomberg. It’s a significant shift from eight years ago, when Canadian bank stocks were almost three times pricier based on tangible book value.

Premium squeeze

“It’s a buying opportunity,” said David Baskin, who helps...

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