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Earnings Expectations Lowered for Canadian Banks - Blackmont Capital

Forgot to add, Blackmont has been to kind ... they should have reduced their price targets even more

(oh, and with today's news on re-org of MBI affecting RY and CM, well CM is not out of the woods either ... i am rather surprised CM has not yet broken its 52-week low, but that is coming soon).

By the way, which of RY, BMO, or BNS will be the first to $US 15.00 ?

Earnings Expectations Lowered for Canadian Banks - Blackmont Capital

Yes,
1. slowdown in Canadian domestic lending
2. residential defaults rise; commercial mortgages big risk

3. RY's capital markets unit provided un-hedged guarantees on Stable Value products sold to corporations for benefit plans (RY is on the hook for returns of x% even though interest rates and equity markets have declined significantly).

4. BMO's bank in USA HArris Bank bought into Vertis Partners Asset Management (a spin-off of the Asset Mgmt unit of Phoenix Home Insurance company of CT). Vertis did an IPO at $10 and stock worth $5.50-$6.00 now

5. BMO's payout ratio is now at 90% ... how is this sustainable ??

6. BNS has currency devaluation losses on its Latin American footprint


Were Canadian banks really so smart, or are they just somewhat lucky (so far)?

Bank of Montreal's AIG Acquisition Favorable but Not Transformational

"Holes" ... watch out BMO and all Canadian banks with US exposure, if the commercial loan market (strip malls, retails stores, etc) starts defaulting or declaring bankruptcy . eg. look at Circuit City, apparel retailers like LIZ/ANN/TLB, lesser known/non-listed exchange companies, etc

The "DOPE-DUD" Phase For Canadian Banks?

Larry, you could be correct. The major banks' (RY, TD, BNS, BMO, CM) stock prices have been declining recently and without major rally advances.

How is the price action on the Bonds of RY, TD, BNS, BMO, CM ?

And, what is a good source for price quotes on the bonds? I would like to conduct price movement analyses.

Bank of Montreal: Should You Be Tempted?

CIBC has made many more mistakes, and lost significant value. Perhaps it is the worst Canadian bank stock.