Bank of Montreal

Bank of Montreal engages in the provision of banking and financial services to individuals and institutions. It operates through the following segments: Canadian Personal and Commercial Banking (Canadian P&C) and United States Personal and Commercial Banking (U.S. P&C). The Canadian P&C segment refers to retail banking and financial operations in Canada. The U.S. P&C segment offers retail banking and financial solutions in United States. The company was founded by Robert Armour, John C. Bush, Austin Cuvillier, George Garden, Horatio Gates, James Leslie, George Moffatt, John Richardson and Thomas A. Turner on June 23, 1817 and is headquartered in Toronto, Canada.

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Bank of Montreal engages in the provision of banking and financial services to individuals and institutions. It operates through the following segments: Canadian Personal and Commercial Banking (Canadian P&C), United States Personal and Commercial Banking (U.S. P&C), BMO Wealth Management, BMO Capital Markets, and Corporate Services. The company was founded by Robert Armour, John C. Bush, Austin Cuvillier, George Garden, Horatio Gates, James Leslie, George Moffatt, John Richardson and Thomas A. Turner on June 23, 1817 and is headquartered in Toronto, Canada.

Higher provisions and a fall in NII hurt Bank of Montreal's fiscal Q4 earnings. Shares jump 8.5% on expectations of moderating provisions in fiscal 2025.

BMO Q4 Earnings Dip, Stock Up on Projection of Fall in 2025 Provision

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AM, AVT and BMO have been added to the Zacks Rank #5 (Strong Sell) List on December 6, 2024.

New Strong Sell Stocks for December 6th

Bank of Montreal's business growth is strong, but rising credit loss provisions have significantly pressured profits, leading to a cautious outlook. The bank's net interest income grew by 10%, driven by higher net interest margins and increased loan demand. Despite a dividend increase and new share buyback authorization, the current share price in the US$90s seems too high to recommend buying.

Bank of Montreal: Higher Credit Risks And A Higher Dividend

Bank of Montreal (NYSE:BMO ) Q4 2024 Earnings Conference Call December 5, 2024 8:30 AM ET Company Participants Christine Viau - Head, Investor Relations Darryl White - Chief Executive Officer Tayfun Tuzun - Chief Financial Officer Piyush Agrawal - Chief Risk Officer Ernie Johannson - Head, BMO North American Personal & Business Banking Nadim Hirji - Head, BMO Commercial Banking Alan Tannenbaum - Head, BMO Capital Markets Conference Call Participants Gabriel Dechaine - National Bank Financial Doug Young - Desjardins Capital Markets Matthew Lee - Canaccord Genuity John Aiken - Jefferies Paul Holden - CIBC Ebrahim Poonawala - Bank of America Meny Grauman - Scotiabank Darko Mihelic - RBC Capital Markets Lemar Persaud - Cormark Operator Good morning, and welcome to BMO Financial Group's Q4 2024 Earnings Release and Conference Call for December 5, 2024. Your host for today is Christine Viau.

Bank of Montreal (BMO) Q4 2024 Earnings Call Transcript

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 orders issued by securities regulatory authorities (Exemption Orders).

BMO Financial Group Announces Intention to Repurchase Up to 20 Million of its Common Shares

TORONTO , Dec. 5, 2024 /PRNewswire/ - Bank of Montreal (TSX:BMO) (NYSE:BMO) today announced that its Board of Directors declared a quarterly dividend of $1.59 per share on paid-up common shares of Bank of Montreal for the first quarter of fiscal year 2025 ("Q1 2025 Dividend"), a 4 cent, or 3 per cent, increase from the prior quarter, up 5 per cent from the prior year. The Board of Directors also declared dividends of: $0.190875 per share on paid-up Class B Preferred Shares Series 33; and $0.426 per share on paid-up Class B Preferred Shares Series 44.

BMO Financial Group Increases Common Share Dividend by 4 cents from the prior quarter, up 5 per cent from the prior year

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 million Reported earnings per share (EPS)1, 3 of $2.94, compared with $2.19; adjusted EPS1, 2, 3 of $1.90, compared with $2.93 Provision for credit losses (PCL) of $1,523 million, compared with $446 million; current quarter included PCL on performing loans of $416 million Return on equity (ROE)1 of 11.4%, compared with 9.3%; adjusted ROE1, 2 of 7.4%, compared with 12.4% Common Equity Tier 1 (CET1) Ratio4 of 13.6%, compared with 12.5% Declared a quarterly dividend of $1.59 per common share, an increase of $0.08 or 5% from the prior year, and $0.04 or 3% from the prior quarter Announced our intention to establish a normal course issuer bid (NCIB) for up to 20 million common shares5 Fiscal 2024 compared with Fiscal 2023: Net income1 of $7,327 million, compared with $4,437 million; adjusted net income1, 2 of $7,449 million, compared with $8,735 million Reported EPS1, 3 of $9.51, compared with $5.76; adjusted EPS1, 2, 3 of $9.68, compared with $11.81 Reported and adjusted PCL of $3,761 million, compared with $2,178 million on a reported basis and $1,473 million on an adjusted basis1 ROE1 of 9.7%, compared with 6.2%; adjusted ROE1, 2 of 9.8%, compared with 12.6% TORONTO , Dec. 5, 2024 /PRNewswire/ - For the fourth quarter ended October 31, 2024, BMO Financial Group (TSX: BMO) (NYSE: BMO) recorded net income of $2,304 million or $2.94 per share on a reported basis, and net income of $1,542 million or $1.90 per share on an adjusted basis.

BMO Financial Group Reports Fourth Quarter and Fiscal 2024 Results

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Investment activity in October focused on Business Development Companies, with $1,300 added to the market. Adjusted dividend income in October of $789, up 25% Y/Y and up 11% sequentially. Main picks included Blackstone Secured Lending, Goldman Sachs BDC, and Midcap Financial Investment Corporation.

My Dividend Stock Portfolio: New October Dividend Record - 100 Holdings With 15 Buys

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Every month we screen for potential dividend growth opportunities, which can provide some new potential ideas that could otherwise slip by. While we look for more consistent dividend growers with relatively higher yields, we also include safety in terms of earnings stability or growth potential in the screening process. We look at five of those that screen the highest based on yield, and this month, we have two new names that haven't made the discussion portion before.

November's 5 Dividend Growth Stocks With 4.91%+ Yields

NEW YORK, NY / ACCESSWIRE / November 4, 2024 / Pomerantz LLP is investigating claims on behalf of investors of Bank of Montreal ("BoM" or the "Company") (NYSE:BMO). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext.

SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Bank of Montreal - BMO

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.

Diane Cooper and Brian McManus Appointed to Bank of Montreal Board of Directors

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September's investment activity was minimal, with $1,000 invested mainly in Business Development Companies, while I traveled through Hungary, Albania, and Oman. Traveling highlighted the benefits of lower living costs abroad, reinforcing the idea that financial independence is about where and how you live. My September dividend income hit a record $1,141, driven by Ares Capital and MidCap Financial, with a focus on high-yield BDCs.

My Dividend Stock Portfolio: New September Dividend Record - 100 Holdings With 12 Buys

Bank of Montreal boasts a 195-year streak of consecutive dividend payments, making it a premier dividend stock in Canada. BMO's robust Canadian operations and strategic U.S. expansion, including the recent acquisition of Bank of the West, position it for future growth. Despite recent U.S. operational challenges, BMO's strong Canadian performance and potential U.S. recovery present a compelling investment opportunity.

Bank of Montreal: This Solid Bank Hasn't Missed A Dividend Payment In 195 Years

Investors need to pay close attention to Bank of Montreal (BMO) stock based on the movements in the options market lately.

Is the Options Market Predicting a Spike in Bank of Montreal (BMO) Stock?

Bank of Montreal said on Wednesday it has named Kristin Milchanowski as its chief artificial intelligence and data officer, as the financial services sector increasingly embraces the new technology and its applications.

Canada's BMO appoints chief artificial intelligence and data officer

A prior jury decision from November 2022 ordering one of Bank of Montreal's subsidiaries to pay $564 million is overturned by the U.S. Court of Appeals.

BMO Triumphs as US Court Voids $564M Verdict in Ponzi Scheme Case

NEW YORK, NY / ACCESSWIRE / September 12, 2024 / Levi & Korsinsky notifies investors that it has commenced an investigation of Bank of Montreal ("BoM") (NYSE:BMO) concerning possible violations of federal securities laws. On August 27, 2024, BoM reported its financial results for the third quarter of 2024, reporting adjusted earnings per share of C$2.64 (US$1.96), which missed consensus estimates for the third consecutive quarter.

BMO ACTIVE INVESTIGATION: Contact Levi & Korsinsky if you lost money on your Bank of Montreal investment

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.

Eighth Circuit Court of Appeals Overturns Petters Judgement, in BMO's Favour

Bank of Montreal persuaded a U.S. appeals court on Thursday to throw out a $564 million jury verdict against a subsidiary over its role in an approximately $3.65 billion Ponzi scheme run by convicted Minnesota businessman Tom Petters.

US appeals court voids $564 million verdict against Bank of Montreal in Ponzi case

NEW YORK, NY / ACCESSWIRE / September 11, 2024 / Levi & Korsinsky notifies investors that it has commenced an investigation of Bank of Montreal ("BoM") (NYSE:BMO) concerning possible violations of federal securities laws. On August 27, 2024, BoM reported its financial results for the third quarter of 2024, reporting adjusted earnings per share of C$2.64 (US$1.96), which missed consensus estimates for the third consecutive quarter.

BMO ALERT: Levi & Korsinsky Reminds Investors of an Investigation Involving Possible Securities Fraud Violations by Bank of Montreal

Shareholder Rights Advocates at Levi & Korsinsky Investigate Bank of Montreal (BMO) Regarding Possible Securities Fraud Violations

NEW YORK, NY / ACCESSWIRE / September 9, 2024 / Levi & Korsinsky notifies investors that it has commenced an investigation of Bank of Montreal ("BoM") (NYSE:BMO) concerning possible violations of federal securities laws. On August 27, 2024, BoM reported its financial results for the third quarter of 2024, reporting adjusted earnings per share of C$2.64 (US$1.96), which missed consensus estimates for the third consecutive quarter.

BMO STOCK ALERT: Levi & Korsinsky Notifies Bank of Montreal Investors of an Ongoing Investigation

Bank of Montreal Investigated Regarding Potential Securities Law Violations - Contact Levi & Korsinsky for Details- BMO

NEW YORK, Sept. 09, 2024 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Bank Of Montreal (“BoM” or “the Company”) (NYSE: BMO). Investors who purchased BoM securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: bgandg.com/BMO.

Bank Of Montreal (BMO) Investigation: Bronstein, Gewirtz & Grossman, LLC Encourages Investors to Seek Compensation for Alleged Wrongdoings

Bank of Montreal (BMO) Investors with Losses are Urged to Contact Levi & Korsinsky to Discuss Their Rights

News for Bank of Montreal Stock (BMO)