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Bank of Montreal (BMO)

- NYSE
  • Fri, May 29, 2:25 PM
    • The last of Canada's big six lenders to report FQ2 results, Bank of Nova Scotia (BNS +1.2%) beat estimates (as did the others), helped by strong action in capital markets. The bank also announced a 24M share buyback.
    • “These results were on balance better than I would have expected a few weeks ago, however they’re not strong enough to really serve as much of a catalyst for the stocks,” says Edward Jones' Jim Shanahan. "The stocks are trading cheaper, but given a weaker loan growth outlook and weaker return profiles, that’s probably warranted.”
    • RBC Capital is impressed enough with Scotiabank's results to upgrade to Outperform from Sector Perform.
    • Checking the scorecard this week: BNS is up 1.2%, while CIBC (NYSE:CM) is down 1.8%, Royal Bank of Canada (NYSE:RY) is down 2.7%, Bank of Montreal (NYSE:BMOdown 3.9%, and TD Bank (NYSE:TD4.3%.
    • YTD, Scotiabank also leads with just a marginal decline, while the other four lenders are down anywhere from about 8%-13%.
    | Fri, May 29, 2:25 PM | 5 Comments
  • Tue, Feb. 3, 1:08 PM
    • Outperforming today as equities go green, rates rise, and oil pops to $51.63 per barrel, is Canada, with stocks in Toronto up 1.25%. Outperforming the broad Canadian market are the beaten-up banks, where investors have been bailing of late thanks to worries about the slowing economy there, not to mention a big drop-off in deal flow from the energy sector.
    • Royal Bank (RBC +3.6%), TD Bank (TD +3.7%), Bank of Montreal (BMO +4%), Scotiabank (BNS +4.4%), CIBC (CM +4%).
    • Previously: Canadian lenders give more ground as Barclays downgrades (Jan. 30)
    | Tue, Feb. 3, 1:08 PM | 2 Comments
  • Fri, Jan. 30, 9:42 AM
    • Citing the effect on business from falling oil prices and noting the Bank of Canada's worry over growth, Barclays downgrades TD Bank (TD -2.8%), RBC (RY -3.2%), BMO (BMO -3.3%), and Laurentian Bank (OTCPK:LRCDF) - all to Underweight from Equal Weight.
    • Not downgraded, but also continuing to feel the chill in Canada's economy are Scotiabank (BNS -3.7%) and CIBC (CM -3.1%).
    • Previously: Canadian GDP unexpectedly slips in November (Jan. 30)
    | Fri, Jan. 30, 9:42 AM | 38 Comments
  • Dec. 30, 2014, 5:36 PM
    | Dec. 30, 2014, 5:36 PM | 1 Comment
  • Dec. 10, 2014, 2:48 PM
    • One of the Canadian banks' more reliable and profitable sectors for lending business is the stumbling oil industry, and another is the bubbly property sector.
    • A check of last week's earnings reports finds the big Canadian banks do up to 20% of their lending to the resource sector, and borrowing plans are no doubt falling alongside the price of oil.
    • The trouble in those areas come just as the banking sector looks to have put its Caribbean write-downs behind it. Scotiabank (BNS -2.9%) - which opened its first Caribbean branch in 1889 - said it would book a $451M charge , and CIBC (CM -2.4%) earlier this year expensed $543M related to the region. RBC (RY -3%) expects its remaining Caribbean operations to be profitable in 2015 after the sale of its Jamaican unit.
    • Bank of Montreal (BMO -2.5%), TD Bank (TD -1.4%)
    | Dec. 10, 2014, 2:48 PM | 3 Comments
  • Dec. 2, 2014, 10:38 AM
    • Bank of Montreal (BMO -2.1%) boosted the dividend and set a 15M share buyback, but missed estimates thanks to weak action in capital markets, with profit of $191M down 12% year-over-year thanks to a 21% decline in trading revenue to $186M. Underwriting and advisory fees, however, climbed 6.4% to $166M.
    • "We are inclined to view the quarter as a neutral, given that BMO did beat our estimates in Canada [retail banking] and U.S. [retail banking], but EPS was below consensus."
    • Royal Bank of Canada (RY -2.6%), Bank of Nova Scotia (BNS -1.4%), CIBC (CM -0.5%), TD Bank (TD -0.7%).
    • Previously: BMO misses estimates, boosts dividend, sets buyback
    | Dec. 2, 2014, 10:38 AM | 4 Comments
  • May 22, 2014, 11:29 AM
    • A check of the Canadian banks finds the whole group higher after TD Bank and RBC cruised past earnings estimates.
    • For TD Bank (+2.7% on the session), strong retail results at home and south of the border drove the beat, while RBC (+2.4%) added big gains in wealth management and capital markets to go along with retail action.
    • Next up in Scotiabank (BNS +0.7%) on Tuesday, followed by Bank of Monreal (BMO +1.4%) the following day, and CIBC (CM +1.7%) on Thursday.
    | May 22, 2014, 11:29 AM | Comment!
  • Dec. 3, 2013, 11:29 AM
    • The headlines for Bank of Montreal's (BMO -4.7%) results say "beat," but RBC calls it a big miss after stripping out a $0.19 tax security gain. This would put EPS at C$1.45 vs. expectations for C$1.58.
    • KBW's Brian Klock agrees, and in fact strips out even more due to securities gains. He sees an operating number closer to $1.41, or a $0.17 miss. Particularly notable, says Klock, was a 10 basis point decline in net interest margin, and the big decline in U.S. banking profit (-28%).
    • TD Bank (TD -1.5%), Scotiabank (BNS -1.9%), CIBC (CM -1.7%), RBC (RY -1.7%).
    | Dec. 3, 2013, 11:29 AM | Comment!
  • Aug. 23, 2011, 11:07 AM
    Bank of Montreal (BMO +3.1%) trades higher this morning after its FQ3 easily beat estimates. Profits rose over 18% Y/Y on a jump in net interest income and lower credit loss provisions, plus revenue and market-share gains in its domestic retail bank and capital-markets units.
    | Aug. 23, 2011, 11:07 AM | Comment!
  • Jun. 27, 2011, 5:39 PM
    S&P 500 shuffling: Accenture (ACN) will join the index after the July 5 session, replacing Marshall & Ilsley (MI), which is in the process of being acquired by Bank of Montreal (BMO). After hours: ACN +4.9%.
    | Jun. 27, 2011, 5:39 PM | Comment!
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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