<div id="readability-page-1">11:12 AM EDT, 05/15/2026 (MT Newswires) -- Bank stocks are up 13% so far this year, outperforming the S&amp;P/TSX by 550 basis points, notes National Bank in its second-quarter earnings preview of the sector.Analyst Gabriel Dechaine writes that since the end of the first-quarter reporting season, Canadian banks have outperformed the market by 800 bps.&#34;Betting against the banks has been unwise, with them consistently beating expectations over the past two years,&#34; he warns, adding that, trading at 14x on forward EPS, the group is priced for positive EPS surprises or revisions. Barring a margin or credit surprise, the onus falls on the Capital Markets to deliver this outcome, which isn't impossible considering several favorable market conditions.Dechaine's top picks are Royal Bank of Canada ( RY ) and Toronto-Dominion Bank ( MLWIQXX ) .The U.S. loan growth factor would also be supportive of BMO (BMO.TO), considering the importance of its U.S. P&amp;C segment's top-line expansion towards achieving the 12% ROE mark sometime in 2027, Dechaine adds.Price: 251.72, Change: -0.71, Percent Change: -0.28 MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.</div>

加拿大皇家銀行

國家銀行的第二季度預覽強調，加拿大銀行股票今年上漲了 13%，超越了 S&P/TSX 指數 550 個基點。分析師 Gabriel Dechaine 指出，銀行的定價反映了對正面每股收益（EPS）驚喜的預期，當前的前瞻性每股收益市盈率為 14 倍。他推薦加拿大皇家銀行和多倫多道明銀行作為首選，而 BMO 可能會受益於美國貸款增長。目前 BMO 的價格為 251.72 美元，下跌 0.28%

國家銀行在第二季度預覽中表示，加拿大銀行的定價仍然預期會有正面的每股收益驚喜