The S & P / TSX Composite Index was up 302 points as of the late morning of December 1. The financial sector was one of the top performers in the overall Canadian market to launch the last month of the year. The first of six big Canadian banks has started reporting its latest batch of earnings. Today I want to take a look at two bank stocks under the radar that are worth picking up if they fall before their results are released. Let’s dive into it.

Here is a Quebec banking action that deserves to be targeted in early December

Last week, I explained why investors should target Quebec bank stocks, when the province’s economy saw a massive rise in 2021. Laurentian Bank (TSX: LB) is a regional bank based in Montreal. Shares of this bank stock climbed 19% in 2021 in the early afternoon of December 1. However, the stock fell 12% month over month.

The bank is expected to release its fourth quarter and full year 2021 results on December 10. In the third quarter of 2021, Laurentian Bank posted net income of $ 59.0 million, or $ 1.25 per diluted share, compared to $ 47.1 million, or $ 1.02 per share, in the year last. The bank benefited from a net gain on the settlement of pension plans resulting from the purchase of annuities as well as a decrease in provisions for credit losses. Investors can expect a positive performance in the fourth quarter of 2021 due to strong real estate financing and the dynamics of the capital markets.

The shares of this bank share have a very attractive price / earnings (P / E) ratio of 8.8. Laurentian Bank stock last had an RSI of 27, placing the stock in technically oversold territory. It offers a quarterly dividend of $ 0.40 per share, which represents a solid return of 4.2%.

Don’t sleep on this stock bank anchored across the country

Canadian Western Bank (TSX: CWB) is an Edmonton-based regional bank that has successfully established itself in Eastern Canada in recent years. I had suggested investors grab Canadian Western because interest rates are expected to rise in 2022. Shares of that bank have risen 32% in the period since the start of the year. However, the stock plunged 6.3% month over month.

In the third quarter of 2021, Canadian Western recorded total revenue growth of 16% to $ 263 million. At the same time, loans increased 9% to $ 32.3 billion, and branch deposits increased 17% to $ 18.7 billion. The bank benefited from a strong credit performance, low write-offs and provisions for credit losses, and a decline in its bad loans. It posted growth in adjusted earnings per share of 36% from the previous year to $ 1.01.

Investors can expect to see the latest batch of 2021 Canadian Western results on December 3. The Canadian economy rebounded well in 2021 after a difficult 2020. However, the emergence of the Omicron variant is causing some concern. Canada has achieved a high vaccination rate and its pandemic procedures have improved significantly since the onset of this crisis. This should allow the country to avoid going through a difficult period, even if this variant is seen to spread at the national level.

This bank stock last had a favorable P / E ratio of 10. It offers a quarterly distribution of $ 0.29 per share, which represents a return of 3%.