Bank of Montreal
 (BMO)

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  • Thu, Jan. 28, 9:14 AM
    • The bank (NYSE:BMO) has all regulatory approvals in place to begin the purchase of up to 15M shares of company stock beginning on Feb. 1 and ending on Jan. 31, 2017. That amount of shares is about 2.3% of the float.
    • Source: Press release
    | Thu, Jan. 28, 9:14 AM | 4 Comments
  • Mon, Jan. 4, 3:05 PM
    • CIT Group (CIT -1%) rallied in mid-November (but has since fallen all the way back) on chatter of a potential sale, with Bank of Montreal (BMO -3%) mentioned as a possible suitor.
    • Canadian lenders make sense, says Mark Palmer, given those banks' excess capital and acquisitive mood. CIT Group offers entry into the U.S. middle market rather than a more risky area like Latin America.
    • John Thain's exit from CIT in March - along with the purchase of OneWest Bank - means the rehabilitation of CIT is complete. A purchase of the lender by a Canadian bank would be immediately accretive, and possibly allow the buyer to benefit from the sales of CIT's aircraft and railcar leasing businesses.
    • Palmer rates CIT a Buy with $56 price target - about 40% above the current level.
    | Mon, Jan. 4, 3:05 PM
  • Dec. 1, 2015, 8:02 AM
    • Bank of Montreal (NYSE:BMO) declares C$0.84/share quarterly dividend, 2.4% increase from prior dividend of $0.82.
    • Forward yield 4.37%
    • Payable Feb. 26; for shareholders of record Feb. 1; ex-div Jan. 28.
    | Dec. 1, 2015, 8:02 AM | 10 Comments
  • Dec. 1, 2015, 7:47 AM
    | Dec. 1, 2015, 7:47 AM
  • Dec. 1, 2015, 7:29 AM
    • BMO Financial (NYSE:BMO) boosts its commercial banking operation with the purchase of GE's transportation finance unit.
    • Based in Irving, Texas, the newly named BMO Transportation Finance business lends to the entire supply chain. It operates out of 11 U.S. locations and four in Canada, with more than 600 employees. The operation currently has net earning assets of $8.9B.
    • It will continue to operate under the leadership of Dan Clark and his management team.
    • Previously: Bank of Montreal beats by C$0.16, misses on revenue (Dec. 1)
    • Previously: Bank of Montreal declares C$0.84 dividend (Dec. 1)
    | Dec. 1, 2015, 7:29 AM | 8 Comments
  • Dec. 1, 2015, 6:51 AM
    • Bank of Montreal (NYSE:BMO): FQ4 EPS of C$1.90 beats by C$0.16.
    • Revenue of C$4.72B (+8.8% Y/Y) misses by C$40M.
    • Press Release
    | Dec. 1, 2015, 6:51 AM
  • Nov. 30, 2015, 5:30 PM
    | Nov. 30, 2015, 5:30 PM | 2 Comments
  • Nov. 16, 2015, 10:06 AM
    • With the catalyst of the approval of the OneMain Financial purchase (and the stock's subsequent 11% gain) now in the rear-view mirror, BMO Capital and Macquarie downgrade Springleaf Holdings (LEAF -0.2%) from Outperform to Market Perform (NYSE:BMO) and Neutral (Macquarie).
    • Previously: Springleaf soars as OneMain purchase is approved (Nov. 13)
    | Nov. 16, 2015, 10:06 AM
  • Nov. 2, 2015, 7:48 AM
    • The bank previously had an internal limit of C$1.25M on loans to borrowers with no in-country credit history, making things difficult in Vancouver, where the median price for a single-family home in the city's desirable west side is C$2.87M - up 31% over the last two years.
    • This high-end mortgage market currently is the domain of HSBC Canada, CIBC (NYSE:CM) and Bank of Montreal (NYSE:BMO). RBC (NYSE:RY) has just an 8% market share.
    • The move may help put to rest the myth of Chinese buyers showing up in the country with suitcases full of cash with which to buy property. It turns out they use credit as well.
    | Nov. 2, 2015, 7:48 AM | 10 Comments
  • Oct. 27, 2015, 3:03 PM
    • Worried about the effect of the energy crash on Canadian lenders, the market is ignoring structural improvements in revenue and loan mix, balance sheet improvements, and profitability, says analyst Kevin Choquette.
    • Share prices are lower by about 5% this year even though earnings are up 6% and dividends by 8%. Toss in price-to-book values at their lowest level since during the financial crisis.
    • It's a great opportunity to buy, says Choquette, reiterating Outperform ratings on Royal Bank of Canada (RY -0.4%) and Bank of Montreal (BMO -0.8%), and upgrading National Bank of Canada (OTCPK:NTIOF -0.3%) to Outperform.
    | Oct. 27, 2015, 3:03 PM | 10 Comments
  • Oct. 8, 2015, 9:52 AM
    • The private placement of 600K preferred shares for $1K each raised a gross $600M for Bank of Montreal (BMO). The yield is set at 5.85% annually.
    | Oct. 8, 2015, 9:52 AM | 3 Comments
  • Sep. 10, 2015, 5:17 PM
    • In continued divestment, General Electric (GE +0.5%) says it's agreed to sell its GE Capital Transportation Finance business to Bank of Montreal's BMO Financial Group (BMO +0.5%).
    • Terms were undisclosed. GE says with its continuing sales, it's hit $85B and is on track to reduce ending net investment by $100B. The sale of its Transport Finance unit represents about $9B in ENI.
    • It'll contribute about $0.7B in capital to an overall target of about $35B in dividends expected to be paid to GE under its plan. GE says it expects to be substantially done with its exit strategy by the end of 2016.
    • The deal's expected to close in December.
    | Sep. 10, 2015, 5:17 PM | 5 Comments
  • Aug. 25, 2015, 7:39 AM
    • Bank of Montreal (NYSE:BMO) declares C$0.82/share quarterly dividend, in line with previous.
    • Forward yield 4.97%
    • Payable Nov. 26; for shareholders of record Nov. 2; ex-div Oct. 29.
    | Aug. 25, 2015, 7:39 AM | 1 Comment
  • Aug. 25, 2015, 7:32 AM
    • Bank of Montreal (NYSE:BMO): FQ3 EPS of C$1.86 beats by C$0.11.
    • Revenue of C$4.61B (+9.2% Y/Y) misses by C$40M.
    | Aug. 25, 2015, 7:32 AM | 4 Comments
  • Aug. 24, 2015, 5:30 PM
    | Aug. 24, 2015, 5:30 PM | 1 Comment
  • Jul. 20, 2015, 10:20 AM
    • Continuing a move to beef up its capital markets business, Piper Jaffray (PJC -0.1%) CEO Andrew Duff lands Bank of Montreal's (BMO -0.5%) GKST - the bank's municipal bond sales, trading, and origination business.
    • PJC last month also added a group of rainmakers from Sterne Agee (after Sterne's sale to Stifel).
    • BMO purchased Griffin, Kubik, Stephens & Thompson in 2008 for about $33M, and its decision to sell follows the exit of a trio of key players at the unit.
    • The deal is expected to close in Q4. Terms were not disclosed.
    | Jul. 20, 2015, 10:20 AM
Company Description
Bank of Montreal is a financial services provider based in North America. It provides retail banking, wealth management and investment banking products & services.
Sector: Financial
Country: Canada