|Bid||0.00 x 1300|
|Ask||0.00 x 900|
|Day's Range||25.17 - 25.75|
|52 Week Range||21.35 - 52.04|
|PE Ratio (TTM)||N/A|
|Beta (3Y Monthly)||0.00|
|Expense Ratio (net)||0.00%|
TORONTO—Canadian banks are tapping the brakes on their merger-fueled U.S. expansion. Executives at Canada’s largest lenders, which have just wrapped up their fiscal-fourth-quarter earnings season, said U.S. targets are pricey, making them leery of doing deals in their fastest-growing market. If there are no acquisitions by Canadian banks in the rest of this month, 2018 will mark the first year since 2014 that Canada’s banks have not bought any U.S. retail lenders, according to Dealogic.
Bank of Montreal warned that economic growth would slow in its key markets of Canada and the United States next year after reporting fourth-quarter earnings which were modestly ahead of market forecasts. Canadian banks have warned that global economic uncertainty and trade tensions could hurt their performance in 2019, citing the U.S.-China trade war and strains in the energy and automotive manufacturing sectors. "We think GDP (gross domestic product) growth in both Canada and the U.S. will be 30 to 40 basis points lower next year," BMO's Chief Financial Officer Tom Flynn said in an interview.
Bank of Montreal has appointed veteran investment banker Susan Wolford as vice-chair of investment and corporate banking and Patrick Kratus as head of technology and businesses services, according to a memo reviewed by Reuters on Tuesday. A representative for BMO Capital Markets, the investment banking arm of Canada's Bank of Montreal, confirmed the memo was accurate.
Bank of Montreal has a acquired a portfolio of about $3 billion in energy loans from Deutsche Bank AG. "We are one of the leading energy investment banks in North America and we got there by continuously investing in our franchise to support our clients -- including by growing our lending portfolio with this acquisition," John Armstrong, deputy head of investment banking at BMO Capital Markets, said in an emailed statement. The book comprises investment-grade and subprime revolving credit lines to oil and gas companies.
Bank of Montreal has appointed Gary Mattan its head of international mergers and acquisitions, a newly created position that will be based in London, Canada's fourth-biggest lender said on Wednesday. Mattan will drive BMO's push into global mining and energy mandates, traditional strengths for the Canadian bank. BMO ranked No. 1 in the Canadian mining M&A league tables for 2017, according to Thomson Reuters data.
Darryl White, BMO Financial Group chief executive officer, discusses the state of the U.S. financial industry 10 years after the 2008 financial crisis. He speaks with Bloomberg's Erik Schatzker on "Bloomberg ...
Bank of Montreal’s businesses in the U.S. may expand to generate a third of the lender’s earnings within three to five years, underpinned by stronger economic growth in the region, Chief Executive Officer Darryl White said. “If we continue doing the things that we’re doing organically, I could see a third of the bank coming from U.S. earnings,” White said in an interview at Bloomberg’s New York headquarters. White, who took over as CEO in November, has been looking to accelerate expansion in the U.S., where it’s been acquiring and building branches and corporate banking and wealth management operations since taking over Harris Bank in 1984.
The Zacks Analyst Blog Highlights: Royal Bank of Canada, Bank of Montreal and Bank of Nova Scotia
Bank of Montreal outshone rival Canadian lender Bank of Nova Scotia on Tuesday by reporting third-quarter earnings that were ahead of market expectations, helped by growth in the United States. Scotiabank shares, which have dropped 3.5 percent so far this year, were down 0.8 percent. BMO, Canada's fourth-biggest lender, said earnings per share, excluding one-off items, rose 16 percent to C$2.36 in the quarter ended July 31, compared with the average analyst forecast of C$2.27, according to Thomson Reuters I/B/E/S.
Bank of Nova Scotia and Bank of Montreal have made strides in their push to do more with less. Scotiabank’s productivity ratio -- or expenses as a percentage of revenue -- fell to 52.5 percent in the quarter from 52.8 percent three months earlier, second-best among Canadian banks. Bank of Montreal’s efficiency ratio fell to 58.2 percent from 63.4 percent in the second quarter, when the lender had higher severance costs from restructuring.
Bank stocks such as BMO are hard to value. This is because the rules banks face are different to other companies, which can impact the way we forecast their cashRead More...
Bank of Montreal set a profit record for its U.S. business, thanks in part to Donald Trump’s tax cuts and lower provisions for bad loans. The lender earned C$364 million ($281 million) from its U.S. personal-and-commercial division in the fiscal third quarter, helped by rising revenue, and tax reform gains. Earnings for the U.S. business, which includes Chicago-based BMO Harris Bank, were up 36 percent from a year earlier and helped Bank of Montreal post profit that beat analysts’ estimates.
Bank of Montreal (NYSE: BMO ) announces its next round of earnings this Tuesday. Here is Benzinga's everything-that-matters guide for the Q3 earnings announcement. Earnings and Revenue Based on management's ...