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.

The acquisition of Bank of the West supports Bank of Montreal's (BMO) fiscal Q2 results as revenues increase. Yet, higher expenses and provisions act as headwinds.

Bank of Montreal (BMO) Stock Down 4.6% as Q2 Earnings Fall Y/Y

Bank of Nova Scotia

Bank of Montreal (CSE:BMO) (BMO) and Bank of Nova Scotia (TSX:BNS) (Scotiabank (TSX:BNS)) kicked off second-quarter 2023 Canadian bank earnings season on Wednesday, with both big financial institutions disappointing the Street consensus on the bottom line. BMO stock sagged 4% to C$113 in midday trading after the company reported 2Q adjusted diluted earnings per share of $2.93, down from an adjusted profit of $3.23 per share during the same period last year, falling short of the $3.19 per share consensus compiled by financial markets data firm Refinitiv.

Bank of Montreal and Bank of Nova Scotia stock falls as 2Q earnings disappoint

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Bank of Montreal (NYSE:BMO ) Q2 2023 Earnings Conference Call May 24, 2023 8:15 AM ET Company Participants Christine Viau - Investor Relations Darryl White - Chief Executive Officer Tayfun Tuzun - Chief Financial Officer Piyush Agrawal - Chief Risk Officer Ernie Johannson - Head, BMO North American Personal and Business Banking Nadeem Hirji - Head, BMO Commercial Banking Dan Barclay - Head, BMO Capital Markets Deland Kamanga - Head, BMO Wealth Management Conference Call Participants John Aiken - Barclays Meny Grauman - Scotiabank Gabriel Dechaine - National Bank Financial Doug Young - Desjardins Capital Markets Scott Chan - Canaccord Genuity Paul Holden - CIBC Mario Mendonca - TD Securities Lemar Persaud - Cormark Operator Please be advised that this conference call is being recorded. Good morning and welcome to BMO Financial Group's Q2 2023 Earnings Release and Conference Call for May 24, 2023.

Bank of Montreal (BMO) Q2 2023 Earnings Call Transcript

Bank of Montreal's second-quarter profit jumped as higher interest rates shored up the lender's net interest income, the Canadian bank said on Wednesday.

Bank of Montreal quarterly profit rises on higher interest income

BMO's Second Quarter 2023 Report to Shareholders, including the unaudited interim consolidated financial statements for the period ended April 30, 2023, is available online at www.bmo.com/investorrelations and at www.sedar.com. Financial Results Highlights Second Quarter 2023 Compared with Second Quarter 2022: Net income of $1,059 million, compared with $4,756 million; adjusted net income1,3 of $2,216 million, compared with $2,187 million Reported earnings per share (EPS)2 of $1.30, compared with $7.13; adjusted EPS1,2,3 of $2.93, compared with $3.23 Provision for credit losses (PCL) of $1,023 million, compared with $50 million; adjusted PCL1,3 of $318 million, compared with $50 million Return on equity (ROE) of 5.6%, compared with 34.5%; adjusted ROE1,3 of 12.6%, compared with 15.7% Common Equity Tier 1 (CET1) Ratio4 of 12.2%, compared with 16.0% Year-to-Date 2023 Compared with Year-to-Date 2022: Net income of $1,306 million, compared with $7,689 million; adjusted net income1,3 of $4,488 million, compared with $4,771 million Reported EPS2 of $1.62, compared with $11.57; adjusted EPS1,2,3 of $6.15, compared with $7.12 PCL of $1,240 million, compared with a recovery of $49 million; adjusted PCL1,3 of $535 million, compared with a recovery of $49 million ROE of 3.4%, compared with 28.0%; adjusted ROE1,3 of 13.0%, compared with 17.2% TORONTO , May 24, 2023 /PRNewswire/ - For the second quarter ended April 30, 2023, BMO Financial Group (TSX: BMO) (NYSE: BMO) recorded net income of $1,059 million or $1.30 per share on a reported basis, and net income of $2,216 million or $2.93 per share on an adjusted basis.

BMO Financial Group Reports Second Quarter 2023 Results

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My Dividend Stock Portfolio: New April Dividend Record - 99 Holdings With 21 Buys

Part of UN Principles for Responsible Banking, Nature Target Setting Working Group to align targets with Kunming-Montreal Global Biodiversity Framework which aims to reverse nature loss by 2030 BMO named as the only Canadian bank participating in pioneering global working group composed of 34 banks from 24 countries TORONTO , May 10, 2023 /PRNewswire/ - BMO (TSX: BMO) (NYSE: BMO) today announced it has been selected to join the newly formed UN Principles for Responsible Banking (PRB) Nature Target Setting Working Group to innovate nature target-setting for banks. The working group consists of 34 bank signatories to the UN PRB.

BMO Named to UN-Convened Group Providing Guidance to Global Banks on Nature Target Setting

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Toronto-Dominion Bank is expanding via acquisition in the U.S. market, with a focus on the East Coast. Bank of Montreal is growing its U.S. market share via acquisition, with a West Coast focus.

3 Top Canadian Bank Stocks to Buy in May

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It has been a rollercoaster ride for the Banks sector over the past month and a half. In this article, we take a look at some of the key metrics investors ought to be familiar with which explain a lot of the price action so far.

Allocating To Banks Preferreds In A Difficult Market

TORONTO , April 18, 2023 /PRNewswire/ - Bank of Montreal (TSX: BMO) (NYSE: BMO) today held its Annual Meeting of Shareholders. At the meeting, all the director nominees listed in the bank's management proxy circular dated February 6, 2023 were elected.

BMO Confirms Election of Board of Directors

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One month ago, Silicon Valley Bank failed, with a resulting decline across the diversified banking industry. Some investors may be tempted to buy the dip, while others are considering doubling down on losing positions.

Banks Are On Sale But Risks Remain

Trading below its historic book value, the current concerns in the banking sector offer an opportunity to buy a quality name at a discount. In addition to a best-in-class liquidity coverage ratio, BMO's tier 1 capital ratio is double that of the average large cap U.S. regional bank.

Bank Of Montreal: The New U.S. Super-Regional

TORONTO , March 28, 2023 /PRNewswire/ - BMO (TSX: BMO) (NYSE: BMO) has received notice of an unsolicited mini-tender offer by TRC Capital Investment Corporation ("TRC Capital") to purchase up to 1 million BMO common shares, or approximately 0.14% of the common shares outstanding, at a below-market price of CAD $113.55 per share. BMO recommends that shareholders reject TRC's unsolicited offer as the offer has been made at a price significantly below market, representing a discount of 4.44% and 4.40%, respectively, to the closing prices of BMO shares on the Toronto Stock Exchange and New York Stock Exchange on March 21, 2023, the last trading day before the date of the mini-tender offer.

BMO Recommends Shareholders Reject TRC Capital's Below-Market "Mini-Tender" Offer

Canada's top six lenders have ample liquidity and manageable credit risks which will help them to emerge largely unscathed from the crisis of confidence that has rocked the global banks over the last two weeks, analysts said on Monday.

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Canadian financial institutions Royal Bank of Canada (NYSE: RY), Bank of Montreal (NYSE: BMO), and Bank of Novia Scotia (NYSE: BNS) all raised their dividends since February 28, as MarketBeat's data on recent dividend increases show.

3 Canadian Banks That Just Increased Their Dividends

TORONTO and CHICAGO , March 2, 2023 /PRNewswire/ - BMO (TSX: BMO) (NYSE: BMO) today announced that it has filed its 2023 Notice of Annual Meeting of Shareholders and Management Proxy Circular with applicable securities regulators. It further announced the release of its 2022 Sustainability reporting suite.

BMO Proxy Circular and 2022 Sustainability Reporting Suite Now Available

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Bank of Montreal (NYSE:BMO ) Q1 2023 Results Conference Call February 28, 2023 7:15 AM ET Company Participants Christine Viau - Investor Relations Darryl White - Chief Executive Officer Tayfun Tuzun - Chief Financial Officer Piyush Agrawal - Chief Risk Officer Dave Casper - Chief Executive Officer, U.S. P&C Erminia Johannson - Group Head of North American Personal & Business Banking Conference Call Participants Ebrahim Poonawala - Bank of America Meny Grauman - Scotiabank Doug Young - Desjardin Capital Markets Paul Holden - CIBC Gabriel Dechaine - National Bank Financial Mario Mendonca - TD Securities Lemar Persaud - Cormark Securities Joo Ho Kim - Credit Suisse Nigel D'Souza - Veritas Investment Research Corporation Operator Good morning, and welcome to the BMO Financial Group Q1 2023 Earnings Release and Conference Call for February 28, 2023. Your host for today is Christine Viau.

Bank of Montreal (BMO) Q1 2023 Earnings Call Transcript

BMO's First Quarter 2023 Report to Shareholders, including the unaudited interim consolidated financial statements for the period ended January 31, 2023, is available online at www.bmo.com/investorrelations and at www.sedar.com . Financial Results Highlights First Quarter 2023 Compared with First Quarter 2022: Net income of $247 million, compared with $2,933 million; adjusted net income1,3 of $2,272 million, compared with $2,584 million Reported earnings per share (EPS)2 of $0.30, compared with $4.43; adjusted EPS1,2,3 of $3.22, compared with $3.89 Provision for credit losses (PCL) of $217 million, compared with a recovery of the provision for credit losses of $99 million Return on equity (ROE) of 1.3%, compared with 21.4%; adjusted ROE1,3 of 13.4%, compared with 18.8% Common Equity Tier 1 Ratio4 of 18.2%, compared with 14.1% TORONTO , Feb. 28, 2023 /PRNewswire/ - For the first quarter ended January 31, 2023, BMO Financial Group (TSX:BMO) (NYSE:BMO) recorded net income of $247 million or $0.30 per share on a reported basis, and net income of $2,272 million or $3.22 per share on an adjusted basis.

BMO Financial Group Reports First Quarter 2023 Results

News for Bank of Montreal Stock (BMO)