The Globe and Mail reports in its Tuesday edition that CIBC analyst Paul Holden found last quarter's earnings for Canadian banks solid but uninspiring. The Globe's Scott Barlow writes that Mr. Holden recommends taking profits and reallocating to underperforming stocks, like insurers, in the financial services sector. Overall, he finds it challenging to identify profit growth opportunities for major banks (excluding his employer). Additionally, a slowing economy and a competitive loan market are stifling growth. Mr. Holden is recommending that clients rotate out of bank stocks and into more attractively valued stocks within financial services. He says in a note, "We advocate for buying financials with solid fundamental stories, including double-digit EPS growth, but that have lagged the banks. Within our coverage universe, that includes Manulife Financial and Element Fleet Management."