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BMO Financial Group…
BMO Financial Group announced today that it is increasing its US$ prime lending rate from 5.50 percent to 6.25 percent, effective September 22, 2022.
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08/04/22 BMO Financial Group expands in Japan with securities license 07/20/22 BMO Financial Group to acquire Radicle Group, terms not disclosed 07/13/22 BMO Bank of Montreal raises prime lending rate to 4.7% from 3.7% 07/11/22 BMO Harris Bank increases minimum base pay to $20 per hour 09/01/22 Desjardins Bank of Montreal price target lowered to C$150 from C$153 at Desjardins 09/01/22 Canaccord Bank of Montreal price target lowered to C$150.50 from C$152.50 at Canaccord 08/31/22 Canaccord Bank of Montreal price target lowered to C$150.50 from C$152.50 at Canaccord 08/31/22 Desjardins Bank of Montreal price target lowered to C$150 from C$153 at Desjardins 08/30/22 Bank of Montreal reports Q3 adjusted EPS C$3.09 vs. C$3.44 last year 05/25/22 Bank of Montreal reports Q2 EPS C$3.23 vs. C$3.13 last year 09/15/22 BMO Capital cutting jobs amid weakening market, Bloomberg says 07/26/22 BMO Harris suffers 'setback' in Ponzi scheme suit, American Banker says 07/08/22 Rogers experiencing broad network failure in Canada, Bloomberg reports 04/07/22 Trudeau windfall tax to hit Canadian banks and insurers, Bloomberg reports
Periodicals
Bank of Montreal's…
Bank of Montreal's capital-markets division is cutting "a small percentage of the firm's personnel" in response to weakening market conditions, people familiar with the matter tell Bloomberg's Kevin Orland and Gillian Tan.
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08/04/22 BMO Financial Group expands in Japan with securities license 07/20/22 BMO Financial Group to acquire Radicle Group, terms not disclosed 07/13/22 BMO Bank of Montreal raises prime lending rate to 4.7% from 3.7% 07/11/22 BMO Harris Bank increases minimum base pay to $20 per hour 09/01/22 Desjardins Bank of Montreal price target lowered to C$150 from C$153 at Desjardins 09/01/22 Canaccord Bank of Montreal price target lowered to C$150.50 from C$152.50 at Canaccord 08/31/22 Canaccord Bank of Montreal price target lowered to C$150.50 from C$152.50 at Canaccord 08/31/22 Desjardins Bank of Montreal price target lowered to C$150 from C$153 at Desjardins 08/30/22 Bank of Montreal reports Q3 adjusted EPS C$3.09 vs. C$3.44 last year 05/25/22 Bank of Montreal reports Q2 EPS C$3.23 vs. C$3.13 last year 07/26/22 BMO Harris suffers 'setback' in Ponzi scheme suit, American Banker says 07/08/22 Rogers experiencing broad network failure in Canada, Bloomberg reports 04/07/22 Trudeau windfall tax to hit Canadian banks and insurers, Bloomberg reports
Recommendations
Desjardins analyst Doug…
Desjardins analyst Doug Young lowered the firm's price target on Bank of Montreal to C$150 from C$153 and keeps a Buy rating on the shares.
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08/04/22 BMO Financial Group expands in Japan with securities license 07/20/22 BMO Financial Group to acquire Radicle Group, terms not disclosed 07/13/22 BMO Bank of Montreal raises prime lending rate to 4.7% from 3.7% 07/11/22 BMO Harris Bank increases minimum base pay to $20 per hour 09/01/22 Canaccord Bank of Montreal price target lowered to C$150.50 from C$152.50 at Canaccord 08/31/22 Canaccord Bank of Montreal price target lowered to C$150.50 from C$152.50 at Canaccord 08/31/22 Desjardins Bank of Montreal price target lowered to C$150 from C$153 at Desjardins 08/31/22 Credit Suisse Bank of Montreal price target lowered to C$150 from C$152 at Credit Suisse 08/30/22 Bank of Montreal reports Q3 adjusted EPS C$3.09 vs. C$3.44 last year 05/25/22 Bank of Montreal reports Q2 EPS C$3.23 vs. C$3.13 last year 07/26/22 BMO Harris suffers 'setback' in Ponzi scheme suit, American Banker says 07/08/22 Rogers experiencing broad network failure in Canada, Bloomberg reports 04/07/22 Trudeau windfall tax to hit Canadian banks and insurers, Bloomberg reports
Recommendations
Canaccord analyst Scott…
Canaccord analyst Scott Chan lowered the firm's price target on Bank of Montreal to C$150.50 from C$152.50 and keeps a Buy rating on the shares. The analyst noted they reported a slight core EPS miss and he decreased its P/E target premium modestly to 3% from 4% to account for its Q3 adjusted EPS miss due mainly to markdowns in its loan underwriting portfolio and severance costs within Capital Markets.
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08/04/22 BMO Financial Group expands in Japan with securities license 07/20/22 BMO Financial Group to acquire Radicle Group, terms not disclosed 07/13/22 BMO Bank of Montreal raises prime lending rate to 4.7% from 3.7% 07/11/22 BMO Harris Bank increases minimum base pay to $20 per hour 08/31/22 Canaccord Bank of Montreal price target lowered to C$150.50 from C$152.50 at Canaccord 08/31/22 Desjardins Bank of Montreal price target lowered to C$150 from C$153 at Desjardins 08/31/22 Credit Suisse Bank of Montreal price target lowered to C$150 from C$152 at Credit Suisse 08/31/22 RBC Capital Bank of Montreal price target lowered to C$151 from C$158 at RBC Capital 08/30/22 Bank of Montreal reports Q3 adjusted EPS C$3.09 vs. C$3.44 last year 05/25/22 Bank of Montreal reports Q2 EPS C$3.23 vs. C$3.13 last year 07/26/22 BMO Harris suffers 'setback' in Ponzi scheme suit, American Banker says 07/08/22 Rogers experiencing broad network failure in Canada, Bloomberg reports 04/07/22 Trudeau windfall tax to hit Canadian banks and insurers, Bloomberg reports
Recommendations
Canaccord analyst Scott…
Canaccord analyst Scott Chan lowered the firm's price target on Bank of Montreal to C$150.50 from C$152.50 and keeps a Buy rating on the shares.
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08/04/22 BMO Financial Group expands in Japan with securities license 07/20/22 BMO Financial Group to acquire Radicle Group, terms not disclosed 07/13/22 BMO Bank of Montreal raises prime lending rate to 4.7% from 3.7% 07/11/22 BMO Harris Bank increases minimum base pay to $20 per hour 08/31/22 Desjardins Bank of Montreal price target lowered to C$150 from C$153 at Desjardins 08/31/22 Credit Suisse Bank of Montreal price target lowered to C$150 from C$152 at Credit Suisse 08/31/22 RBC Capital Bank of Montreal price target lowered to C$151 from C$158 at RBC Capital 08/31/22 Veritas Bank of Montreal downgraded to Reduce from Buy at Veritas 08/30/22 Bank of Montreal reports Q3 adjusted EPS C$3.09 vs. C$3.44 last year 05/25/22 Bank of Montreal reports Q2 EPS C$3.23 vs. C$3.13 last year 07/26/22 BMO Harris suffers 'setback' in Ponzi scheme suit, American Banker says 07/08/22 Rogers experiencing broad network failure in Canada, Bloomberg reports 04/07/22 Trudeau windfall tax to hit Canadian banks and insurers, Bloomberg reports
Recommendations
Desjardins analyst Doug…
Desjardins analyst Doug Young lowered the firm's price target on Bank of Montreal to C$150 from C$153 and keeps a Buy rating on the shares.
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08/04/22 BMO Financial Group expands in Japan with securities license 07/20/22 BMO Financial Group to acquire Radicle Group, terms not disclosed 07/13/22 BMO Bank of Montreal raises prime lending rate to 4.7% from 3.7% 07/11/22 BMO Harris Bank increases minimum base pay to $20 per hour 08/31/22 Credit Suisse Bank of Montreal price target lowered to C$150 from C$152 at Credit Suisse 08/31/22 RBC Capital Bank of Montreal price target lowered to C$151 from C$158 at RBC Capital 08/31/22 Veritas Bank of Montreal downgraded to Reduce from Buy at Veritas 08/18/22 Canaccord Bank of Montreal price target lowered to C$152.50 from C$157 at Canaccord 08/30/22 Bank of Montreal reports Q3 adjusted EPS C$3.09 vs. C$3.44 last year 05/25/22 Bank of Montreal reports Q2 EPS C$3.23 vs. C$3.13 last year 07/26/22 BMO Harris suffers 'setback' in Ponzi scheme suit, American Banker says 07/08/22 Rogers experiencing broad network failure in Canada, Bloomberg reports 04/07/22 Trudeau windfall tax to hit Canadian banks and insurers, Bloomberg reports
Recommendations
Credit Suisse analyst Joo…
Credit Suisse analyst Joo Ho Kim lowered the firm's price target on Bank of Montreal to C$150 from C$152 but keeps an Outperform rating on the shares. The company's Q3 earnings miss was driven by lower than expected capital markets revenue, though this was more than offset with better than expected expenses and lower tax rates, the analyst tells investors in a research note. BMO's growth runway is strong and serves as a key source of support for an Outperform rating , Kim adds.
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08/04/22 BMO Financial Group expands in Japan with securities license 07/20/22 BMO Financial Group to acquire Radicle Group, terms not disclosed 07/13/22 BMO Bank of Montreal raises prime lending rate to 4.7% from 3.7% 07/11/22 BMO Harris Bank increases minimum base pay to $20 per hour 08/31/22 RBC Capital Bank of Montreal price target lowered to C$151 from C$158 at RBC Capital 08/31/22 Veritas Bank of Montreal downgraded to Reduce from Buy at Veritas 08/18/22 Canaccord Bank of Montreal price target lowered to C$152.50 from C$157 at Canaccord 08/16/22 CIBC Bank of Montreal price target raised to C$143 from C$142 at CIBC 08/30/22 Bank of Montreal reports Q3 adjusted EPS C$3.09 vs. C$3.44 last year 05/25/22 Bank of Montreal reports Q2 EPS C$3.23 vs. C$3.13 last year 07/26/22 BMO Harris suffers 'setback' in Ponzi scheme suit, American Banker says 07/08/22 Rogers experiencing broad network failure in Canada, Bloomberg reports 04/07/22 Trudeau windfall tax to hit Canadian banks and insurers, Bloomberg reports
Recommendations
RBC Capital analyst Darko…
RBC Capital analyst Darko Mihelic lowered the firm's price target on Bank of Montreal to C$151 from C$158 but keeps an Outperform rating on the shares. The company's Q3 results were lower than expected, mainly driven by weak performance in capital markets, and while the bank had strong loan growth this quarter, the total revenue growth and the all-bank net interest margin improvement were "mediocre", the analyst tells investors in a research note. Mihelic maintains his positive stance on the stock however, stating that he still believes that BMO's earnings growth should outpace that of its peers over the next two years.
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08/04/22 BMO Financial Group expands in Japan with securities license 07/20/22 BMO Financial Group to acquire Radicle Group, terms not disclosed 07/13/22 BMO Bank of Montreal raises prime lending rate to 4.7% from 3.7% 07/11/22 BMO Harris Bank increases minimum base pay to $20 per hour 08/31/22 Veritas Bank of Montreal downgraded to Reduce from Buy at Veritas 08/18/22 Canaccord Bank of Montreal price target lowered to C$152.50 from C$157 at Canaccord 08/16/22 CIBC Bank of Montreal price target raised to C$143 from C$142 at CIBC 08/16/22 National Bank Bank of Montreal price target lowered to C$151 from C$152 at National Bank 08/30/22 Bank of Montreal reports Q3 adjusted EPS C$3.09 vs. C$3.44 last year 05/25/22 Bank of Montreal reports Q2 EPS C$3.23 vs. C$3.13 last year 07/26/22 BMO Harris suffers 'setback' in Ponzi scheme suit, American Banker says 07/08/22 Rogers experiencing broad network failure in Canada, Bloomberg reports 04/07/22 Trudeau windfall tax to hit Canadian banks and insurers, Bloomberg reports
Downgrade
Veritas analyst Nigel…
Veritas analyst Nigel D'Souza downgraded Bank of Montreal to Reduce from Buy with a C$134 price target.
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08/04/22 BMO Financial Group expands in Japan with securities license 07/20/22 BMO Financial Group to acquire Radicle Group, terms not disclosed 07/13/22 BMO Bank of Montreal raises prime lending rate to 4.7% from 3.7% 07/11/22 BMO Harris Bank increases minimum base pay to $20 per hour 08/18/22 Canaccord Bank of Montreal price target lowered to C$152.50 from C$157 at Canaccord 08/16/22 CIBC Bank of Montreal price target raised to C$143 from C$142 at CIBC 08/16/22 National Bank Bank of Montreal price target lowered to C$151 from C$152 at National Bank 08/07/22 Keefe Bruyette Royal Bank of Canada downgraded to Underperform at Keefe Bruyette 08/30/22 Bank of Montreal reports Q3 adjusted EPS C$3.09 vs. C$3.44 last year 05/25/22 Bank of Montreal reports Q2 EPS C$3.23 vs. C$3.13 last year 07/26/22 BMO Harris suffers 'setback' in Ponzi scheme suit, American Banker says 07/08/22 Rogers experiencing broad network failure in Canada, Bloomberg reports 04/07/22 Trudeau windfall tax to hit Canadian banks and insurers, Bloomberg reports
Earnings
Reports Q3 revenue C$6.1B…
Reports Q3 revenue C$6.1B vs. C$7.56B last year. BMO's common equity tier 1 ratio was 15.8% as at July 31. "Our performance this quarter continued to demonstrate the strength and quality of our diversified business mix, credit excellence and the resilience of our earnings power. We delivered robust loan growth and margin expansion that drove record revenue in our North American personal and commercial businesses, buffering the impact of challenging market conditions on our capital markets businesses," said Darryl White, CEO BMO Financial Group.
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08/04/22 BMO Financial Group expands in Japan with securities license 07/20/22 BMO Financial Group to acquire Radicle Group, terms not disclosed 07/13/22 BMO Bank of Montreal raises prime lending rate to 4.7% from 3.7% 07/11/22 BMO Harris Bank increases minimum base pay to $20 per hour 08/18/22 Canaccord Bank of Montreal price target lowered to C$152.50 from C$157 at Canaccord 08/16/22 CIBC Bank of Montreal price target raised to C$143 from C$142 at CIBC 08/16/22 National Bank Bank of Montreal price target lowered to C$151 from C$152 at National Bank 08/07/22 Keefe Bruyette Royal Bank of Canada downgraded to Underperform at Keefe Bruyette 05/25/22 Bank of Montreal reports Q2 EPS C$3.23 vs. C$3.13 last year 07/26/22 BMO Harris suffers 'setback' in Ponzi scheme suit, American Banker says 07/08/22 Rogers experiencing broad network failure in Canada, Bloomberg reports 04/07/22 Trudeau windfall tax to hit Canadian banks and insurers, Bloomberg reports
