Bank of Montreal provides diversified financial services primarily in North America. The company's personal banking products and services include checking and savings accounts, credit cards, mortgages, and financial and investment advice services; and commercial banking products and services comprise business deposit accounts, commercial credit cards, business loans and commercial mortgages, cash management solutions, foreign exchange, specialized banking programs, treasury and payment solutions, and risk management products for small business and commercial banking customers. It also offers investment and wealth advisory services; digital investing services; financial services and solutions; and investment management, and trust and custody services to institutional, retail, and high net worth investors. In addition, the company provides life insurance, accident and sickness insurance, and annuity products; creditor and travel insurance to bank customers; and reinsurance solutions. Further, it offers client's debt and equity capital-raising services, as well as loan origination and syndication, balance sheet management, and treasury management; strategic advice on mergers and acquisitions, restructurings, and recapitalizations, as well as valuation and fairness opinions; and trade finance, risk mitigation, and other operating services. Additionally, the company provides research and access to markets for institutional, corporate, and retail clients; trading solutions that include debt, foreign exchange, interest rate, credit, equity, securitization and commodities; new product development and origination services, as well as risk management advice and services to hedge against fluctuations; and funding and liquidity management services to its clients. It operates through approximately 1,400 bank branches and 4,800 automated banking machines in Canada and the United States. The company was founded in 1817 and is headquartered in Montreal, Canada.
IPO Year:
Exchange: NYSE
Website: bmo.com
Date | Price Target | Rating | Analyst |
---|---|---|---|
8/28/2024 | Buy → Neutral | BofA Securities | |
8/28/2024 | Sector Outperform → Sector Perform | Scotiabank | |
8/27/2024 | Buy → Hold | TD Securities | |
8/27/2024 | Buy → Hold | Jefferies | |
7/30/2024 | Outperform → Sector Perform | RBC Capital Mkts | |
7/2/2024 | Neutral | UBS | |
6/3/2024 | Outperform → Mkt Perform | Keefe Bruyette | |
5/29/2024 | Buy → Hold | Desjardins | |
3/20/2024 | Overweight | Barclays | |
2/22/2024 | Buy | Jefferies |
BofA Securities downgraded Bank of Montreal from Buy to Neutral
Scotiabank downgraded Bank of Montreal from Sector Outperform to Sector Perform
TD Securities downgraded Bank of Montreal from Buy to Hold
Jefferies downgraded Bank of Montreal from Buy to Hold
RBC Capital Mkts downgraded Bank of Montreal from Outperform to Sector Perform
UBS initiated coverage of Bank of Montreal with a rating of Neutral
Keefe Bruyette downgraded Bank of Montreal from Outperform to Mkt Perform
Desjardins downgraded Bank of Montreal from Buy to Hold
Barclays initiated coverage of Bank of Montreal with a rating of Overweight
Jefferies initiated coverage of Bank of Montreal with a rating of Buy
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TORONTO, Oct. 3, 2024 /CNW/ - Bank of Montreal (the "Bank") (TSX:BMO)(NYSE:BMO) today announced its intention to redeem all of its 12,000,000 outstanding Non-Cumulative 5-Year Rate Reset Class B Preferred Shares, Series 31 (Non-Viability Contingent Capital (NVCC)) (the "Preferred Shares Series 31") (TSX:BMO) for an aggregate total of $300 million on November 25, 2024. The redemption has been approved by the Office of the Superintendent of Financial Institutions. The Preferred Shares Series 31 are redeemable at the Bank's option on November 25, 2024 (the "Redemption Date") at a redemption price of $25.00 per share. Payment of the redemption price will be made by the Bank on the Redemption Da
TORONTO and CHICAGO, Oct. 2, 2024 /PRNewswire/ - BMO today announced the appointment of Kristin Milchanowski as its new Chief Artificial Intelligence and Data Officer, effective October 15, 2024. Kristin will drive BMO's Artificial Intelligence (AI), data, analytics, and robotics strategies and supporting technologies, championing a transformative AI roadmap that optimizes and enhances business value. Additionally, she will focus on data management and data governance across the organization, deepening the bank's robust and established culture of innovation and accountability. "Kristin brings extensive knowledge and expertise in transforming businesses by leveraging the full potential of th
A total of ten $10,000 grants awarded to help women-owned businesses make real financial progress. TORONTO, Oct. 2, 2024 /CNW/ - BMO, in collaboration with Deloitte Canada, today announced the 2024 recipients of its Celebrating Women Grant Program. For the fourth consecutive year, BMO awarded $100,000 in grants to ten Canadian women-owned businesses – empowering them to make real financial progress. "Women-owned businesses continue to drive change in their industries and BMO is committed to helping power their progress," said Sharon Haward-Laird, General Counsel, BMO, and Executive Sponsor of BMO for Women. "By supporting women-owned businesses, we advance economic growth, innovation and su
TORONTO, Sept. 20, 2024 /CNW/ - BMO Asset Management Inc., as manager of the BMO ETFs, and BMO Investments Inc., as manager of the BMO Mutual Funds, today announced the September 2024 cash and reinvested distributions for unitholders of BMO ETFs and unitholders of ETF Series units of the BMO Mutual Funds (ETF Series) that distribute monthly and quarterly, as set out in the tables below. Unitholders of record of the BMO ETFs and ETF Series at the close of business on September 27, 2024 will receive cash distributions payable on October 2, 2024. The ex-dividend date and record date for all BMO ETFs and ETF Series of BMO Mutual Funds is September 27, 2024. Details of the per unit cash distribu
CHICAGO, Sept. 18, 2024 /PRNewswire/ - BMO today announced that it is decreasing its US$ prime lending rate from 8.50 percent to 8.00 percent, effective September 19, 2024. About BMO Financial Group BMO Financial Group is the eighth largest bank in North America by assets, with total assets of $1.4 trillion as of July 31, 2024. Serving customers for 200 years and counting, BMO is a diverse team of highly engaged employees providing a broad range of personal and commercial banking, wealth management, global markets and investment banking products and services to 13 million customers across Canada, the United States, and in select markets globally. Driven by a single purpose, to Boldly Grow
TORONTO and CHICAGO, Sept. 12, 2024 /PRNewswire/ - BMO Financial Group (TSX:BMO) (NYSE:BMO) announced today that the United States Court of Appeals for the Eighth Circuit reversed a prior jury verdict and instructed the district court to enter judgement in favour of BMO's U.S. subsidiary, BMO Bank National Association. The lawsuit related to a Ponzi scheme carried out by Thomas J. Petters and certain affiliated individuals and entities (collectively, Petters) that operated a deposit account at a predecessor bank, M&I Marshall and Ilsley Bank. "We are very pleased with the decision of the United States Court of Appeals for the Eighth Circuit," stated a BMO spokesperson. As a result of this o
TORONTO, Sept. 10, 2024 /CNW/ - BMO today celebrated the official opening of BMO Academy, its new flagship learning and event centre in downtown Toronto. This state-of-the-art facility represents BMO's single largest investment in learning and development in 30 years, marking a significant milestone in its commitment to employee skill building and career growth. BMO Academy is designed with the future in mind. Modern and digitally enabled, it offers a hybrid learning environment that supports a seamless blend of in-person and virtual experiences. From learning sessions and str
TORONTO, Sept. 4, 2024 /CNW/ - BMO Bank of Montreal today announced that it is decreasing its CDN$ prime lending rate from 6.70 per cent to 6.45 per cent, effective September 5, 2024. About BMO Financial Group BMO Financial Group is the eighth largest bank in North America by assets, with total assets of $1.4 trillion as of July 31, 2024. Serving customers for 200 years and counting, BMO is a diverse team of highly engaged employees providing a broad range of personal and commercial banking, wealth management, global markets and investment banking products and services to 13 million customers across Canada, the United States, and in select markets globally. Driven by a single purpose, to B
TORONTO, Sept. 3, 2024 /CNW/ - Tayfun Tuzun, Chief Financial Officer, BMO Financial Group (TSX:BMO) (NYSE:BMO), will participate in the Barclays Global Financial Services Conference on September 10, 2024 at 9:00 AM ET. Mr. Tuzun's presentation will be broadcast live via webcast at https://www.bmo.com/main/about-bmo/investor-relations/presentations-events. An archived version of the webcast will be available at the same location. About BMO Financial GroupBMO Financial Group is the eighth largest bank in North America by assets, with total assets of $1.4 trillion as of July 31, 2024. Serving customers for 200 years and counting, BMO is a diverse team of highly engaged employees providing a br
New strategic partnership enables newcomers from nine countries to access their credit history to make their financial transition in Canada faster, easier and more inclusive.TORONTO, Sept. 3, 2024 /CNW/ - BMO today announced a new strategic partnership with Nova Credit, the leading cross-border credit bureau, to help eligible BMO customers access their international credit histories to gain greater access to credit products in Canada. By integrating Nova Credit's Credit Passport® into the credit application process, newcomers from nine countries – including Australia, India, Kenya, Mexico, Philippines, South Korea, Spain, Switzerland and the United Kingdom – can now access their internation
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TORONTO, Oct. 3, 2024 /CNW/ - Bank of Montreal (the "Bank") (TSX:BMO)(NYSE:BMO) today announced its intention to redeem all of its 12,000,000 outstanding Non-Cumulative 5-Year Rate Reset Class B Preferred Shares, Series 31 (Non-Viability Contingent Capital (NVCC)) (the "Preferred Shares Series 31") (TSX:BMO) for an aggregate total of $300 million on November 25, 2024. The redemption has been approved by the Office of the Superintendent of Financial Institutions. The Preferred Shares Series 31 are redeemable at the Bank's option on November 25, 2024 (the "Redemption Date") at a redemption price of $25.00 per share. Payment of the redemption price will be made by the Bank on the Redemption Da
TORONTO, Sept. 20, 2024 /CNW/ - BMO Asset Management Inc., as manager of the BMO ETFs, and BMO Investments Inc., as manager of the BMO Mutual Funds, today announced the September 2024 cash and reinvested distributions for unitholders of BMO ETFs and unitholders of ETF Series units of the BMO Mutual Funds (ETF Series) that distribute monthly and quarterly, as set out in the tables below. Unitholders of record of the BMO ETFs and ETF Series at the close of business on September 27, 2024 will receive cash distributions payable on October 2, 2024. The ex-dividend date and record date for all BMO ETFs and ETF Series of BMO Mutual Funds is September 27, 2024. Details of the per unit cash distribu
BMO's Third Quarter 2024 Report to Shareholders, including the unaudited interim consolidated financial statements for the period ended July 31, 2024 are available online at www.bmo.com/investorrelations and at www.sedarplus.ca. Financial Results Highlights Third Quarter 2024 compared with Third Quarter 2023: Net income of $1,865 million, compared with $1,565 million; adjusted net income1, 2 of $1,981 million, compared with $2,148 millionReported earnings per share (EPS)3 of $2.48, compared with $2.12; adjusted EPS1, 2, 3 of $2.64, compared with $2.94Provision for credit losses (PCL) of $906 million, compared with $492 millionReturn on equity (ROE) of 10.0%, compared with 9.0%; adjusted ROE1
TORONTO, Aug. 6, 2024 /CNW/ - BMO Financial Group will announce its third quarter 2024 financial results and hold its investor community conference call on August 27th, 2024. Financial results will be issued in a news release at approximately 5:30 a.m. ET. Investor Community Conference Call Time: 7:15 a.m. ETThe conference call will be available in a listen-only mode:via telephone at 1-800-806-5484 or 416-340-2217 (Toronto area),Passcode: 9768240#via the Internet at https://www.bmo.com/home/about/banking/investor-relations/financial-information/quarterly-resultsPresentation material referenced during the conference call will be available at https://www.bmo.com/home/about/banking/investor-re
TORONTO, July 23, 2024 /CNW/ - BMO Asset Management Inc., as manager of the BMO ETFs, and BMO Investments Inc., as manager of the BMO Mutual Funds, today announced the July 2024 cash distributions for unitholders of BMO ETFs and unitholders of ETF Series units of the BMO Mutual Funds (ETF Series) that distribute monthly, as set out in the table below. Unitholders of record of the BMO ETFs and ETF Series at the close of business on July 30, 2024 will receive cash distributions payable on August 2, 2024. The ex-dividend date and record date for all BMO ETFs and ETF Series of BMO Mutual Funds is July 30, 2024. Details of the per unit cash distribution amount are as follows: FUND NAME FUND TI
TORONTO, July 22, 2024 /CNW/ - Bank of Montreal (the "Bank") (TSX:BMO)(NYSE:BMO) today announced its intention to redeem all of its 16,000,000 outstanding Non-Cumulative 5-Year Rate Reset Class B Preferred Shares, Series 29 (Non-Viability Contingent Capital (NVCC)) (the "Preferred Shares Series 29") for an aggregate total of $400 million on August 25, 2024. The redemption has been approved by the Office of the Superintendent of Financial Institutions. The Preferred Shares Series 29 are redeemable at the Bank's option on August 25, 2024 (the "Redemption Date") at a redemption price of $25.00 per share. Payment of the redemption price will be made by the Bank on August 26, 2024, the first bus
BMO's Second Quarter 2024 Report to Shareholders, including the unaudited interim consolidated financial statements for the period ended April 30, 2024 are available online at www.bmo.com/investorrelations and at www.sedarplus.ca. Financial Results HighlightsSecond Quarter 2024 compared with Second Quarter 2023: Net income of $1,866 million, compared with $1,029 million; adjusted net income1, 2 of $2,033 million, compared with $2,186 millionReported earnings per share (EPS)3 of $2.36, compared with $1.26; adjusted EPS1, 2, 3 of $2.59, compared with $2.89Provision for credit losses (PCL) of $705 million, compared with $1,023 million on a reported basis and $318 million on an adjusted basis1 R
TORONTO, May 6, 2024 /CNW/ - BMO Financial Group will announce its second quarter 2024 financial results and hold its investor community conference call on May 29th, 2024. Financial results will be issued in a news release at approximately 6:00 a.m. ET. Investor Community Conference CallsTime: 8 a.m. ETThe conference call will be available in a listen-only mode:via telephone at 1-800-806-5484 or 416-340-2217 (Toronto area), Passcode: 9768240# via the Internet at https://www.bmo.com/home/about/banking/investor-relations/financial-information/quarterly-resultsPresentation material referenced during the conference call will be available at https://www.bmo.com/home/about/banking/inv
TORONTO, April 23, 2024 /CNW/ - Bank of Montreal (the "Bank") (TSX:BMO) (NYSE:BMO) today announced its intention to redeem all of its 14,000,000 outstanding Non-Cumulative 5-Year Rate Reset Class B Preferred Shares, Series 46 (Non-Viability Contingent Capital (NVCC)) (the "Preferred Shares Series 46") for an aggregate total of $350 million on May 25, 2024. The redemption has been approved by the Office of the Superintendent of Financial Institutions. The Preferred Shares Series 46 are redeemable at the Bank's option on May 25, 2024 (the "Redemption Date") at a redemption price of $25.00 per share. Payment of the redemption price will be made by the Bank on May 27, 2024, the first business d
TORONTO, April 23, 2024 /CNW/ - Bank of Montreal (the "Bank") (TSX:BMO)(NYSE:BMO) today announced its intention to redeem all of its 20,000,000 outstanding Non-Cumulative 5-Year Rate Reset Class B Preferred Shares, Series 27 (Non-Viability Contingent Capital (NVCC)) (the "Preferred Shares Series 27") for an aggregate total of $500 million on May 25, 2024. The redemption has been approved by the Office of the Superintendent of Financial Institutions. The Preferred Shares Series 27 are redeemable at the Bank's option on May 25, 2024 (the "Redemption Date") at a redemption price of $25.00 per share. Payment of the redemption price will be made by the Bank on May 27, 2024, the first business da
Keefe, Bruyette & Woods analyst Mike Rizvanovic downgrades Bank of Montreal (NYSE:BMO) from Outperform to Market Perform and lowers the price target from $137 to $124.
Shares of Bank of Montreal (NYSE:BMO) fell sharply during Wednesday's session after the company reported worse-than-expected second-quarter financial results. Bank of Montreal posted quarterly adjusted earnings of C$2.59 per share, missing market estimates of C$2.77 per share. The company's quarterly sales came in at C$7.988 billion missing expectations of C$8.046 billion, according to data from Benzinga Pro. Bank of Montreal shares declined 7.1% to $89.32 on Wednesday. Here are some other stocks moving in today’s mid-day session. Gainers ReShape Lifesciences Inc. (NASDAQ:RSLS) shares jumped 82.8% to $0.3799 a day after it received the nod from the U.S. Patent And Trademark O
Bank of Montreal (TSX:BMO) (NYSE:BMO) today announced at its Board of Directors declared a quarterly dividend of $1.55 per share on paid-up common shares of Bank of Montreal for the third quarter of fiscal year 2024 ("Q3 2024 Dividend"), a 4 cent, or 3 per cent, increase from the prior quarter, up 5 per cent from the prior year.
Bank of Montreal (NYSE:BMO) reported quarterly earnings of C$2.59 per share which missed the analyst consensus estimate of C$2.77 by 6.5 percent. This is a 10.38 percent decrease over earnings of C$2.89 per share from the same period last year. The company reported quarterly sales of C$7.988 billion which missed the analyst consensus estimate of C$8.046 billion by 0.72 percent. This is a 2.82 percent increase over sales of C$7.769 billion the same period last year.
Despite global efforts towards decarbonization, coal imports in China are on the rise, signaling persistent demand for the commodity. The surge in imports contradicts previous forecasts of a decline, demonstrating China’s continued reliance on coal for various industrial processes and electricity generation regardless of its strong push into green energy exports. According to data compiled by Kpler, per Reuter's report, China imported 97.43 million metric tons of coal from the seaborne market during the first quarter of 2024, marking a significant increase of 16.9% compared to the same period in 2023. One of the contributing factors to China’s increased coal demand is the steady growth
The Carlyle Group Inc. (NASDAQ:CG) inked a collaboration with Bank of Montreal‘s (NYSE:BMO) BMO Global Asset Management (BMO GAM) to aid private equity strategy for Canada. This is BMO Global’s third partnership to widen access to private markets for Canadian accredited investors. The new strategy will offer access to a global diversified private equity portfolio through a single fund, which is expected to be available this spring. Shane Clifford, Head of Carlyle Wealth Strategy, said, “The solution, which is through our AlpInvest platform, will offer accredited investors in Canada direct access to a global portfolio of secondary, co-investment, and primary opportunities providing i
Barclays analyst Brian Morton initiates coverage on Bank of Montreal (TSX:BMO) with a Overweight rating and announces Price Target of C$140.
TORONTO and CHICAGO, Oct. 2, 2024 /PRNewswire/ - BMO today announced the appointment of Kristin Milchanowski as its new Chief Artificial Intelligence and Data Officer, effective October 15, 2024. Kristin will drive BMO's Artificial Intelligence (AI), data, analytics, and robotics strategies and supporting technologies, championing a transformative AI roadmap that optimizes and enhances business value. Additionally, she will focus on data management and data governance across the organization, deepening the bank's robust and established culture of innovation and accountability. "Kristin brings extensive knowledge and expertise in transforming businesses by leveraging the full potential of th
LAFC Unveils New 2024 Primary JerseyLOS ANGELES, TORONTO, and CHICAGO, Feb. 15, 2024 /PRNewswire/ - Los Angeles Football Club (LAFC) and BMO today announced an expansion of their multi-year partnership, unveiling BMO as the Club's "Official Jersey Sponsor" on the 2024 primary and secondary jersey. BMO will continue to support fans of LAFC and the community as the Official Bank of LAFC, and BMO Stadium will continue to be the home of LAFC in the heart of Los Angeles. VIEW THE NEW JERSEY HERE: LAFC KIT LAUNCH PHOTOS (Credit: LAFC) Authentic and replica 2024 primary jerseys will
Following a surge in excess savings during the pandemic, Canadians are no longer putting as much money away - with savings levels now returning to pre-pandemic levels 63 per cent say current economic conditions are negatively affecting their ability to save for retirementTORONTO, Feb. 7, 2024 /CNW/ - BMO's annual retirement survey reveals Millennials (ages 28 to 44) believe they will need about $2.1M to retire, the highest among all adult generations. The survey also revealed that, for a second consecutive year, Canadians overall believe they need about $1.7 million in retirement. Demographic Age Groups Estimated Savings Needed to Retire,According to Survey Respondents National (All age gro
TORONTO and NEW YORK, Oct. 10, 2023 /PRNewswire/ - BMO Financial Group (TSX:BMO) (NYSE:BMO) today announced the upcoming retirement of its Chief Executive Officer & Group Head, Capital Markets, Dan Barclay, and the appointment of Alan Tannenbaum into the role. After a 32-year investment banking career, Mr. Barclay will transition to a role as Senior Advisor to the CEO. Mr. Tannenbaum will also join the bank's Executive Committee. Both changes are effective November 1, 2023. Mr. Tannenbaum will lead BMO Capital Markets and provide strategic direction on global markets and inve
TORONTO, Aug. 30, 2023 /PRNewswire/ - Bank of Montreal today announced the appointment of Hazel Claxton, former Executive Vice-President and Chief Human Resources Officer of Morneau Shepell Inc. (now part of TELUS Health), to its Board of Directors. "We are pleased to welcome Hazel to the Board of Directors," said George A. Cope, Chair of the Board. "She brings a wealth of knowledge and experience in executive leadership, accounting and finance, talent management, and strategic planning. She will be a strong addition to our Board." Prior to her tenure at Morneau Shepell Inc. f
TORONTO and CHICAGO, April 20, 2023 /CNW/ - BMO today announced the appointment of Darrel Hackett as U.S. Chief Executive Officer of BMO Financial Group, President & CEO of BMO Harris Bank N.A., and CEO of BMO's U.S. holding company, BMO Financial Corp. (BFC). Mr. Hackett will report to Chief Executive Officer Darryl White, join the bank's Executive Committee, and will chair the U.S. Management Committee. His appointment is effective June 1, 2023. Joining BMO in 2004, among several leadership roles at BMO and in the community, Mr. Hackett has served BMO's clients as the leader
TORONTO and CHICAGO, April 20, 2023 /PRNewswire/ - BMO today announced the appointment of Darrel Hackett as U.S. Chief Executive Officer of BMO Financial Group, President & CEO of BMO Harris Bank N.A., and CEO of BMO's U.S. holding company, BMO Financial Corp. (BFC). Mr. Hackett will report to Chief Executive Officer Darryl White, join the bank's Executive Committee, and will chair the U.S. Management Committee. His appointment is effective June 1, 2023. Joining BMO in 2004, among several leadership roles at BMO and in the community, Mr. Hackett has served BMO's clients as the
A special report from the BMO Real Financial Progress Index found notable gender gaps in retirement readiness, financial literacy, and a strong demand for financial know-how resourcesOnly 53 percent of women report feel confident to retire at their target age compared to two thirds (66 percent) of menAn overwhelming majority of women (79 percent) desire greater access to financial literacy resources with 74 percent reporting they do not have a financial plan in place compared to 58 percent of menCHICAGO, March 7, 2023 /PRNewswire/ - A special report from the BMO Real Financial Progress Index focusing on women and financial confidence found a stark contrast regarding how women and men feel ab
TORONTO, Feb. 15, 2023 /PRNewswire/ - BMO Financial Group today announced the appointment of Nadim Hirji as Group Head, BMO Commercial Banking. Mr. Hirji will report to Chief Executive Officer Darryl White and join the bank's Executive Committee. His appointment is effective March 1, 2023. "Across North America, BMO's commercial bankers are fueling the growth and resilience of our clients' businesses that help our economy thrive and our clients make progress on their goals," said Mr. White. "Nadim is a purpose-driven leader who deeply understands the power that comes from the
Fewer than half (44 per cent) of Canadians are confident they will have enough money to retire as plannedMajority (74 per cent) are concerned about how inflation and rising prices will affect their financesTORONTO, Feb. 7, 2023 /CNW/ - BMO's 13th annual Retirement Study reveals Canadians are prioritizing retirement savings as both contributions and account holdings have increased from the previous year. The study found that Canadians believe they will need $1.7 million to retire, up 20 per cent from 2020 ($1.4 million). However, fewer than half (44 per cent) of Canadians are confident they will have enough money to retire as planned, a 10 per cent decrease from 2020. According to BMO Economi