High-Yield Bank Stocks to Buy Now

Looking for yield? Look up the map to our northern neighbors. It’s earnings week for the six big Canadian bank stocks, making this the perfect time to look at these not-ballyhooed-enough dividend stocks:

Bank of Montreal’s (BMO) fourth-quarter earnings were definitely hurt by its U.S. operations, which saw adjusted net income decline by 28% year-over-year to C$113 million. The smallest of the major banks, National Bank of Canada (NTIOF), announced an 8% year-over-year increase in adjusted net income to C$370 million. According to a report by TD Securities, Canadian Imperial Bank of Commerce (CM) generates 80% of its total loans in Canada, higher than any other major Canadian bank. Royal Bank of Canada (RY) is having an excellent 2013. Canada’s biggest bank when it comes to doing business in the U.S. is Toronto-Dominion Bank (TD), which has branches running from Maine all the way down the East Coast to Florida, where thousands of Canadians spend the winter avoiding the cold.The last of the major Canadian banks is Bank of Nova Scotia (BNS). Not known for its Canadian retail banking, its biggest calling cards are its businesses outside of Canada in Latin America and Asia.

Source: InvestorPlace

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