Recent Stock Purchase – February 2015

It’s been a long time since I wrote a post about a recent stock purchase. In fact, my last post discussing this topic dates back to January 8. No matter. As long as I can make a purchase at least once a month I’ll be following my personal goal of building up my portfolio. For me, no matter the market condition, the key word is consistency. I must make a buy once a month.

Here we go again. With the market at all time highs and valuations of many companies in the stratosphere we have to pick and choose our investments a little more carefully these days. Still, there are two sectors that present decent, if not good, bargains throughout, namely energy and finance. With that being said I decided to stick with my February stock considerations list and look into the finance sector, specifically the large Canadian banks. It seems that continued weakness in oil prices along with a depressed local currency, Canadian banks are entering into a period of protracted headwinds. This, of course, simply offers us better buying opportunities.

For my portfolio, adding to my Canadian bank holdings allows me to average down my cost while buying at a more attractive PE and in the meantime collect a juicy current yield. With that being said I’d like to share my recent stock buys.

I have added to my ROTH account 18.7926 shares at $42.57 for a total investment of $800.00 in The Toronto-Dominion Bank (TD). With this recent purchase my ROTH account holdings in TD now totals 86.7187 shares for a value of $3,672.54.

I also have added to my ROTH account 26.6876 shares at $59.81 for a total investment of $1,596.05 in Royal Bank of Canada (RY). With this recent purchase my ROTH account holdings in RY now totals 38.7950 shares for a value of $2,311.79.

What do you think about my most recent purchases? Is TD, RY or any other Canadian bank stock in your dividend income portfolio? Please let me know below.

Disclosure: Long TD, RY.

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