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 |
|---|---|---|---|
| 1/8/2025 | Sector Perform → Outperform | RBC Capital Mkts | |
| 12/6/2024 | Neutral → Sector Outperform | CIBC | |
| 12/6/2024 | Sector Perform → Sector Outperform | Scotiabank | |
| 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 |
TORONTO, Jan. 17, 2025 /PRNewswire/ - Bank of Montreal (TSX:BMO) (NYSE:BMO) today announced that it has received approvals from the Toronto Stock Exchange (TSX) and the Office of the Superintendent of Financial Institutions Canada (OSFI) to proceed with its previously-announced normal course issuer bid to purchase, for cancellation, up to 20 million of its common shares, commencing January 22, 2025, and ending no later than January 21, 2026. Purchases under the bid may be made through the facilities of the TSX and may also be made through other designated exchanges and alternative Canadian trading systems or by such other means as may be permitted by a securities regulatory authority, includ
CHICAGO, Jan. 10, 2025 /PRNewswire/ - BMO announced today that it is continuing its support for people and communities affected by the wildfires in the Los Angeles area through donations to two organizations providing relief efforts on the ground. This is in addition to its ongoing annual support of the American Red Cross Emergency Relief Fund. BMO is donating a total of $100,000 ($50,000 each) to the following organizations as it continues to monitor the situation: United Way of Greater Los Angeles Wildfire Response Fund: United Way of Greater Los Angeles is a critical relief agency when wildfires strike the Los Angeles area. It addresses urgent, ongoing needs, which include support for lo
NEW YORK, Jan. 10, 2025 /PRNewswire/ - BMO (NYSE:BMO) and Canal Road Group ("CRG") today announced they are entering into a strategic partnership. As part of the arrangement, BMO's commitment to CRG will enable CRG to invest up to $1 billion in capital in support of their direct lending strategy. CRG is an alternative asset manager specializing in originating, underwriting, and managing portfolios of senior secured corporate debt investments for companies in North America sourced largely from sponsors. CRG will benefit from BMO's network of banking relationships, facilitating
TORONTO, Jan. 10, 2025 /PRNewswire/ - Bank of Montreal (TSX: BMO) (NYSE: BMO) today announced that it has entered into an automatic securities purchase plan ("ASPP") with its broker, BMO Nesbitt Burns Inc., in order to facilitate repurchases of BMO common shares ("Common Shares") in connection with its previously announced intention to purchase for cancellation up to 20 million of Common Shares under a normal course issuer bid. While the ASPP has been approved by the TSX, the purchase of any Common Shares under the ASPP will not begin until after the approval of such normal course issuer bid by the Office of the Superintendent of Financial Institutions Canada (OSFI) and the Toronto Stock Exc
TORONTO, Dec. 30, 2024 /CNW/ - Darryl White, Chief Executive Officer of BMO Financial Group (TSX: BMO) (NYSE: BMO), will participate in the RBC Capital Markets Canadian Bank CEO Conference in Toronto on January 7, 2025 at 10:50AM ET. Mr. White's presentation will be broadcast live via audio 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 $1.41 trillion as of October 31, 2024. Serving customers for 200 years and counting, BMO is a diverse team of highly engaged
TORONTO, Dec. 18, 2024 /CNW/ - BMO Asset Management Inc. and BMO Investments Inc. today announced the 2024 annual reinvested distributions for BMO Exchange Traded Funds (BMO ETFs) or ETF Series of BMO Mutual Funds (ETF Series) 1. These annual reinvested distributions generally represent realized capital gains and special income within the BMO ETFs and ETF Series, and are paid to unitholders, as required, to ensure that the BMO ETFs and ETF Series are not liable for ordinary income tax. Unitholders of record at close of business on December 30, 2024, will receive the 2024 annual reinvested distributions. The actual taxable amounts, including the tax characteristics, will be reported in 2025.
TORONTO, Dec. 18, 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 December 2024 cash distributions for unitholders of BMO ETFs and unitholders of ETF Series units of the BMO Mutual Funds (ETF Series)1 that distribute monthly, quarterly and annually, as set out in the tables below. Unitholders of record of the BMO ETFs and ETF Series at the close of business on December 30, 2024 will receive cash distributions payable on January 3, 2025. The ex-dividend date and record date for all BMO ETFs and ETF Series of BMO Mutual Funds is December 30, 2024. Details of the per unit cash distribution amo
TORONTO, Dec. 17, 2024 /CNW/ - A special report from the BMO Real Financial Progress Index reveals concerns about the cost of living are affecting Canadians' spending plans for 2025, with nearly a third (30%) planning to minimize spending in the new year. Nearly half (46%) of Canadians say the higher cost of living will affect their financial new year's resolutions – a 4% increase from 2023. BMO's special report explores how concerns about current economic conditions have affected Canadians' approaches to financial planning ahead of the new year and reveals: 2024 Financial Wrap: Amid increased concerns about the cost of living (54%), inflation (50%) and a possible economic recession (42%),
TORONTO, Dec. 11, 2024 /CNW/ - BMO Bank of Montreal today announced that it is decreasing its CDN$ prime lending rate from 5.95 per cent to 5.45 per cent, effective December 12, 2024. About BMO Financial Group BMO Financial Group is the eighth largest bank in North America by assets, with total assets of $1.41 trillion as of October 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, t
TORONTO, Dec. 5, 2024 /PRNewswire/ - Bank of Montreal (TSX:BMO)(NYSE:BMO) today announced its intention to purchase for cancellation up to 20 million of its common shares under a normal course issuer bid, subject to the approval of the Office of the Superintendent of Financial Institutions Canada (OSFI) and the Toronto Stock Exchange (TSX). Purchases will be made through the facilities of the TSX and may also be made through other designated exchanges and alternative Canadian trading systems or by such other means as may be permitted by a securities regulatory authority, including under automatic purchase plans, block purchases, private agreements or share repurchase programs under exemption
TORONTO, Dec. 18, 2024 /CNW/ - BMO Asset Management Inc. and BMO Investments Inc. today announced the 2024 annual reinvested distributions for BMO Exchange Traded Funds (BMO ETFs) or ETF Series of BMO Mutual Funds (ETF Series) 1. These annual reinvested distributions generally represent realized capital gains and special income within the BMO ETFs and ETF Series, and are paid to unitholders, as required, to ensure that the BMO ETFs and ETF Series are not liable for ordinary income tax. Unitholders of record at close of business on December 30, 2024, will receive the 2024 annual reinvested distributions. The actual taxable amounts, including the tax characteristics, will be reported in 2025.
TORONTO, Dec. 18, 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 December 2024 cash distributions for unitholders of BMO ETFs and unitholders of ETF Series units of the BMO Mutual Funds (ETF Series)1 that distribute monthly, quarterly and annually, as set out in the tables below. Unitholders of record of the BMO ETFs and ETF Series at the close of business on December 30, 2024 will receive cash distributions payable on January 3, 2025. The ex-dividend date and record date for all BMO ETFs and ETF Series of BMO Mutual Funds is December 30, 2024. Details of the per unit cash distribution amo
Fourth Quarter 2024 Earnings Release BMO's 2024 audited annual consolidated financial statements and accompanying Management Discussion and Analysis (MD&A) are available online at www.bmo.com/investorrelations and at www.sedarplus.ca. Financial Results Highlights Fourth Quarter 2024 compared with Fourth Quarter 2023: Net income1 of $2,304 million, compared with $1,710 million; adjusted net income1, 2 of $1,542 million, compared with $2,243 millionReported earnings per share (EPS)1, 3 of $2.94, compared with $2.19; adjusted EPS1, 2, 3 of $1.90, compared with $2.93Provision for credit losses (PCL) of $1,523 million, compared with $446 million; current quarter included PCL on performing loans
TORONTO, Nov. 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 November 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 November 27, 2024 will receive cash distributions payable on December 3, 2024. The ex-dividend date and record date for all BMO ETFs and ETF Series of BMO Mutual Funds is November 27, 2024. Details of the per unit cash distribution amount are as follows: FUND
TORONTO, Nov. 7, 2024 /CNW/ - BMO Financial Group will announce its fourth quarter 2024 financial results and hold its investor community conference call on December 5th, 2024. Financial results will be issued in a news release at approximately 6:00 a.m. ET. Investor Community Conference Call Time: 8:30 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/i
TORONTO, Nov. 7, 2024 /CNW/ - BMO Global Asset Management (BMO GAM) received ten awards at the 2024 Canada LSEG Lipper Fund Awards, with BMO Exchange Traded Funds (BMO ETFs) claiming five top honours and BMO Mutual Funds being recognized as best in class in five additional categories. For over three decades, the LSEG Lipper Fund Awards have recognized funds and fund management firms for their consistently strong risk-adjusted 3-year, 5-year, and 10-year performance relative to their peers. Based on Lipper's quantitative, proprietary methodology, the awards reflect an independent assessment of fund performance. "We are pleased to be recognized as a top fund performer for another year," said
TORONTO, Oct. 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 October 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 October 30, 2024 will receive cash distributions payable on November 4, 2024. The ex-dividend date and record date for all BMO ETFs and ETF Series of BMO Mutual Funds is October 30, 2024. Details of the per unit cash distribution amount are as follows: FUND NA
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
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RBC Capital Mkts upgraded Bank of Montreal from Sector Perform to Outperform
CIBC upgraded Bank of Montreal from Neutral to Sector Outperform
Scotiabank upgraded Bank of Montreal from Sector Perform to Sector Outperform
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
TORONTO, Oct. 29, 2024 /PRNewswire/ -Bank of Montreal today announced the appointment of Diane Cooper and Brian McManus to its Board of Directors. "We are pleased to welcome Diane and Brian to the Board of Directors," said George Cope, Chair of the Board. "They each bring significant skills and experience and will be a valuable addition to our board." Ms. Cooper was formerly President and CEO of GE Capital's Commercial Distribution business and an officer of GE Company. She also led the GE Capital Equipment Finance and Franchise Finance businesses and previously held senior ro
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