12 stories mentioning BMO
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Bank of Montreal (BMO) has an average rating of hold and mean price target of CA$228.96, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)
The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.04% and the actively traded Invesco QQQ Trust (QQQ) was 0.1% lower in Thursday's premarket activity as new US attacks on Iran led to rising oil prices.US stock futures were also lower, with S&P 500 Index futures down 0.2%, Dow Jones Industrial Average futures slipping 0.2%, and Nasdaq futures retreating 0.4% before the start of regular trading.US initial jobless claims rose to a level of 215,000 in the week ended May 23 from an upwardly revised 210,000 level in the previous week, compared with expectations for a level of 211,000 in survey of analysts compiled by Bloomberg.New orders for US durable goods rose by 7.9% in April following a smaller increase of 1.3% in March, well above the expectations for a 4.0% increase in a survey compiled by Bloomberg.The new-home sales data for April will be released at 10 am ET, followed by the weekly natural gas stocks at 10:30 am ET.The weekly petroleum stocks data posts at 12 pm ET.New York Federal Reserve President John Williams and St. Louis Fed President Alberto Musalem are slated to speak on Thursday.In premarket activity, bitcoin was down by 2.2%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 2.1% lower, Ether ETF (EETH) retreated by 3.5%, and Bitcoin & Ether Market Cap Weight ETF (BETH) declined by 1.1%.Power Play:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) retreated 0.5%, and the iShares US Technology ETF (IYW) was 0.4% lower, while the iShares Expanded Tech Sector ETF (IGM) was down 0.7%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) declined by 0.9%, while the iShares Semiconductor ETF (SOXX) lost 1%.Snowflake (SNOW) shares were up more than 38% in Thursday's premarket activity after the company lifted its full-year product revenue outlook and agreed to a $6 billion infrastructure spending deal with Amazon's (AMZN) Amazon Web Services.Winners and Losers:EnergyThe iShares US Energy ETF (IYE) gained 0.3%, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 1%.Borr Drilling (BORR) stock was up more than 5% before the opening bell after the company priced an upsized $2.04 billion senior secured notes offering and simultaneously expanded a tender offer for its outstanding 10.375% senior secured notes due 2030.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.3%, and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) gained 0.1%. The iShares US Consumer Staples ETF (IYK) was 0.8% lower. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.5%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was 0.8% higher.Burlington Stores (BURL) shares were down more than 2% pre-bell even after the company posted higher fiscal Q1 adjusted earnings and revenue.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) retreated 0.5%, while the Vanguard Industrials Index Fund (VIS) was flat and the iShares US Industrials ETF (IYJ) was inactive.American Superconductor (AMSC) stock was down more than 2% before the opening bell after the company provided lower-than-expected fiscal Q1 guidance.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.3%, the Vanguard Health Care Index Fund (VHT) was 1.1% higher, while the iShares US Healthcare ETF (IYH) was inactive. The iShares Biotechnology ETF (IBB) was 0.2% higher.Sanofi (SNY) stock was down more than 1% premarket. The company said it has been granted a US Food and Drug Administration priority review for a new drug application for venglustat for the treatment of type 3 Gaucher disease, a rare disorder.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) declined by 0.1%. Direxion Daily Financial Bull 3X Shares (FAS) was down 0.4%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.2% higher.Bank of Montreal (BMO) shares were up more than 1% pre-bell after the company reported higher fiscal Q2 adjusted earnings and revenue.CommoditiesFront-month US West Texas Intermediate crude oil advanced by 2.9% to $91.23 per barrel on the New York Mercantile Exchange. Natural gas was up 0.5% at $3.11 per 1 million British Thermal Units. The United States Oil Fund (USO) rose by 1.5%, while the United States Natural Gas Fund (UNG) was 0.2% lower.Gold futures for July retreated by 1.5% to $4,414.10 an ounce on the Comex. Silver futures declined by 2.5% to $73.04 an ounce. SPDR Gold Shares (GLD) was down by 1.1%, and the iShares Silver Trust (SLV) fell by 1.7%.
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We increase our 12-month target price by CAD23 to CAD250, 15.8x our FY 27 (Oct.) EPS view of CAD15.86, a premium to BMO's five-year forward P/E average of 10.3x given expectations for improving efficiency in the bank's U.S. operations. We increase our FY 26 EPS estimate to CAD14.38 from CAD14.19 and FY 27's to CAD15.86 from CAD15.81. BMO has completed its optimization initiatives and should see balance sheet growth improve going forward. However, catching up to peers will take time, given BMO's weak starting position (balances declined Y/Y in 1H FY 26). On a positive note, efficiency improvements are delivering results, with adjusted ROE rising 370 bps to 13.5% in Q2. The underperforming U.S. Banking segment is also improving, with adjusted ROE reaching 9.3% (up 220 bps), and we expect further gains, as this business remains well below its potential. Additionally, the sale of BMO's Transportation and vendor finance businesses should result in an uptick of share repurchases.
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We increase our 12-month target price by USD15 to USD181, based on 15.8x our FY 27 (Oct.) EPS view of CAD15.86 (USD11.46), a premium to BMO's five-year forward P/E average of 10.3x given expectations for improving efficiency in the bank's U.S. operations. We increase our FY 26 EPS estimate to CAD14.38 from CAD14.19 and FY 27's to CAD15.86 from CAD15.81. BMO has completed its optimization initiatives and should see balance sheet growth improve going forward. However, catching up to peers will take time, given BMO's weak starting position (balances declined Y/Y in 1H FY 26). On a positive note, efficiency improvements are delivering results, with adjusted ROE rising 370 bps to 13.5% in Q2. The underperforming U.S. Banking segment is also improving, with adjusted ROE reaching 9.3% (up 220 bps), and we expect further gains, as this business remains well below its potential. Additionally, the sale of BMO's Transportation and vendor finance businesses should result in an uptick of share repurchases.
Financial stocks were leaning lower pre-bell Wednesday, with the State Street Financial Select Sector SPDR ETF (XLF) down 0.1%.The Direxion Daily Financial Bull 3X Shares (FAS) was down 0.3% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.3% higher.Banco Santander (SAN) shares were up more than 1% after the company said it launched a cash tender offer to repurchase up to $850 million of its outstanding 4.75% perpetual preferred tier 1 securities.Bank of Montreal (BMO) shares were down 0.5% even after the company reported higher fiscal Q2 adjusted earnings and revenue.Qfin (QFIN) stock was up more than 7% even after the company posted lower Q1 non-GAAP net income and net revenue.
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:BMO reported Q2 FY 26 operating EPS of CAD3.67, beating consensus by CAD0.22 and up from CAD2.62 a year ago, while total revenue rose 10% to CAD9.567B. The strong performance was due to robust 20% growth in non-interest revenue to CAD4.299B, particularly in Capital Markets and Wealth Management. BMO's adjusted ROE showed meaningful improvement, rising 370 bps to 13.5%, reflecting the bank's ongoing efficiency efforts and operational momentum. The board increased the quarterly dividend 2% sequentially and 5% year-over-year to CAD1.71 per share. BMO announced a strategic transaction to sell its Transportation Finance and Vendor Finance businesses to Stonepeak for an expected pre-tax charge of approximately CAD1.1B in Q3, allowing portfolio optimization. The bank repurchased 6.0M shares during the quarter while maintaining a solid CET1 ratio of 13.0%. Credit quality remains mixed with provisions declining to CAD739M but gross impaired loans ticking up 2 bps to 1.01% amid contracting loan balances.
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:BMO reported Q2 FY 26 operating EPS of CAD3.67, beating consensus by CAD0.22 and up from CAD2.62 a year ago, while total revenue rose 10% to CAD9.567B. The strong performance was due to robust 20% growth in non-interest revenue to CAD4.299B, particularly in Capital Markets and Wealth Management. BMO's adjusted ROE showed meaningful improvement, rising 370 bps to 13.5%, reflecting the bank's ongoing efficiency efforts and operational momentum. The board increased the quarterly dividend 2% sequentially and 5% year-over-year to CAD1.71 per share. BMO announced a strategic transaction to sell its Transportation Finance and Vendor Finance businesses to Stonepeak for an expected pre-tax charge of approximately CAD1.1B in Q3, allowing portfolio optimization. The bank repurchased 6.0M shares during the quarter while maintaining a solid CET1 ratio of 13.0%. Credit quality remains mixed with provisions declining to CAD739M but gross impaired loans ticking up 2 bps to 1.01% amid contracting loan balances..
(with update on performance of different units from paragraph 11)Bank of Montreal (BMO.TO, BMO) was last seen up 3.2% in New York premarket trading Wednesday as it increased its dividend while reporting an adjusted earnings beat for the second-quarter, reflecting increased earnings in most of its operating segments, while the bank said provision for credit losses was lower.For Q2, BMO reported adjusted EPS of $3.67, an increase of 40% from $2.62. FactSet estimated EPS to reach $3.45. It had adjusted net income of $2,733 million, an increase of 34% from $2,046 million.The bank reported net income of $2,630 million, an annual increase of 34% from $1,962 million in the same period last year.BMO had revenues of $9,567 million compared to $8,679 million. FactSet had forecast $9,485.7 million.Among other highlights, it had total provisions for credit losses (PCL) of $739 million, compared with $1,054 million. The PCL on impaired loans was $734 million, a decrease of $31 million, primarily due to lower provisions in capital markets and the U.S. banking. While the PCL on performing loans was $5 million, compared with $289 million in the prior year."The performing provision in the current quarter was primarily driven by the net impact of model changes, largely offset by portfolio credit migration and lower portfolio balances, while the prior year reflected changes in the macroeconomic environment," the bank said.BMO reported return on equity (ROE) of 13%, compared with 9.4%, and adjusted ROE of 13.5%, compared with 9.8%.The bank also declared a quarterly dividend of $1.71 per common share, an increase of $0.08 or 5% from the prior year and $0.04 or 2% from the prior quarter."Our second quarter results continued to demonstrate meaningful progress and momentum against these commitments. We once again strengthened ROE and delivered strong EPS growth, driven by robust fee revenue across Capital Markets, Wealth Management and Treasury and Payments. We delivered solid sequential commercial banking loan growth in both Canada and the United States, reflecting improving client activity and the strength of our bankers. These outcomes are driven by our focus on deepening client relationships, innovating to drive business value, and optimizing performance," said Darryl White, CEO of BMO Financial Group."Our value-driven approach to human- and AI-powered client experiences is delivering tangible benefits. To continue to advance our innovation strategy, we recently established the BMO Institute for Applied Artificial Intelligence & Quantum, dedicated to the responsible application, governance and oversight of AI at scale, and support our clients as they integrate AI into their companies and households. Disciplined investment, capital and risk management continue to strengthen our earnings quality, creating sustainable long-term value for our shareholders," added White.On operations, BMO said its Canadian Personal and Commercial banking unit reported net income was $884 million, an increase of $120 million or 15% from the prior year, and adjusted net income was $887 million, an increase of $119 million or 15%, primarily due to a 5% increase in revenue, as well as a lower provision for credit losses, partially offset by higher expenses.Revenue growth was driven by "increases in net interest income, primarily due to higher net interest margin, and non-interest revenue due to higher card-related and mutual fund distribution fees, partially offset by lower deposit fee revenue", the bank said.Its U.S. Banking reported net income was $790 million, an increase of $189 million or 32% from the prior year, and adjusted net income was $847 million, an increase of $172 million or 25%. The impact of the weaker U.S. dollar decreased net income by 5%, revenue by 4% and expenses by 3%, BMO said.While the Wealth Management unit reported net income was $428 million, an increase of $108 million or 34% from the prior year, and adjusted net income was $444 million, an increase of $124 million or 39%.Capital Markets reported net income of $638 million, an increase of $204 million or 47% from the prior year, and adjusted net income was $641 million, an increase of $204 million or 46%. It reflected higher revenue in Global Markets and Investment and Corporate Banking, and a lower provision for credit losses, partially offset by higher expenses, BMO noted.However, Corporate Services sector reported net loss was $110 million, compared with a reported net loss of $157 million in the prior year, and adjusted net loss was $86 million, compared with an adjusted net loss of $154 million, with "changes driven by higher treasury-related revenue".Shares of the bank were last up US$5.15 at US$166.99 on the NYSE on Thursday. They closed down C$0.89 at C$233.64 in Toronto on Tuesday.
Bank of Montreal (BMO.TO, BMO) was last seen up 4.9% in New York premarket trading Wednesday as it increased its dividend while reporting an adjusted earnings beat for the second-quarter, reflecting increased earnings in most of its operating segments, while the bank said provision for credit losses was lower.For Q2, BMO reported adjusted EPS of $3.67, an increase of 40% from $2.62. FactSet estimated EPS to reach $3.45. It had adjusted net income of $2,733 million, an increase of 34% from $2,046 million.The bank reported net income of $2,630 million, an annual increase of 34% from $1,962 million in the same period last year.BMO had revenues of $9,567 million compared to $8,679 million. FactSet had forecast $9,485.7 million.Among other highlights, it had total provisions for credit losses (PCL) of $739 million, compared with $1,054 million. The PCL on impaired loans was $734 million, a decrease of $31 million, primarily due to lower provisions in capital markets and the U.S. banking. While the PCL on performing loans was $5 million, compared with $289 million in the prior year."The performing provision in the current quarter was primarily driven by the net impact of model changes, largely offset by portfolio credit migration and lower portfolio balances, while the prior year reflected changes in the macroeconomic environment," the bank said.BMO reported return on equity (ROE) of 13%, compared with 9.4%, and adjusted ROE of 13.5%, compared with 9.8%.The bank also declared a quarterly dividend of $1.71 per common share, an increase of $0.08 or 5% from the prior year and $0.04 or 2% from the prior quarter."Our second quarter results continued to demonstrate meaningful progress and momentum against these commitments. We once again strengthened ROE and delivered strong EPS growth, driven by robust fee revenue across Capital Markets, Wealth Management and Treasury and Payments. We delivered solid sequential commercial banking loan growth in both Canada and the United States, reflecting improving client activity and the strength of our bankers. These outcomes are driven by our focus on deepening client relationships, innovating to drive business value, and optimizing performance," said Darryl White, CEO of BMO Financial Group."Our value-driven approach to human- and AI-powered client experiences is delivering tangible benefits. To continue to advance our innovation strategy, we recently established the BMO Institute for Applied Artificial Intelligence & Quantum, dedicated to the responsible application, governance and oversight of AI at scale, and support our clients as they integrate AI into their companies and households. Disciplined investment, capital and risk management continue to strengthen our earnings quality, creating sustainable long-term value for our shareholders," added White.Shares of the bank were last up US$7.96 at US$169.80 on the NYSE on Thursday. They closed down C$0.89 at C$233.64 in Toronto on Tuesday.
Financial stocks were declining premarket Monday, with the State Street Financial Select Sector SPDR ETF (XLF) down 0.3%.The Direxion Daily Financial Bull 3X Shares (FAS) was 0.8% lower and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was up 0.9%.Royal Bank of Canada (RY) and Bank of Montreal (BMO) are in talks to sell their financial technology joint venture Moneris to private equity firm Francisco Partners at a valuation of as much as $2 billion, the Financial Times reported. Royal Bank of Canada shares were nearly 3% higher pre-bell.Blackstone (BX) Digital Infrastructure Trust set its initial public offering at 87.5 million shares with an anticipated price of $20 per share, according to a filing with the Securities and Exchange Commission. Blackstone stock was down more than 1% premarket.Blue Owl Capital (OWL) saw its stake held by Brown University reduced by roughly 53% in the first quarter, Reuters reported, citing a regulatory filing. Blue Owl Capital shares were up more than 1% pre-bell.
Financial stocks were declining premarket Monday, with the State Street Financial Select Sector SPDR ETF (XLF) down 0.2%.The Direxion Daily Financial Bull 3X Shares (FAS) was 0.7% lower and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was up 0.6%.Royal Bank of Canada (RY) and Bank of Montreal (BMO) are in talks to sell their financial technology joint venture Moneris to private equity firm Francisco Partners at a valuation of as much as $2 billion, the Financial Times reported. Royal Bank of Canada shares were nearly 3% higher and Bank of Montreal stock was up more than 4% pre-bell.
Bank of Montreal (BMO.TO), up 3% in U.S. pre-market trading, Monday announced new partnerships with Quantum Industry Canada (QIC) and the Chicago Quantum Exchange (CQE).BMO last week launched its Institute for Applied Artificial Intelligence & Quantum, a centre of excellence that is focused on the responsible application and governance of AI and the advancement of quantum capabilities. These initiatives reflect BMO's commitment to "innovating, developing and integrating" technologies that will shape the future of financial services and the broader economy, a statement said."Quantum technologies present significant long-term potential, along with important questions around security, governance and real-world application," said Dr. Kristin Milchanowski, chief AI & quantum officer, BMO. "These partnerships enable us to engage constructively with leading organizations across Canada and the U.S. as the field continues to develop, while taking a responsible, informed approach grounded in collaboration, learning and readiness."BMO also recently joined the IBM Quantum Network.BMO shares were last seen up US$4.28, to US$148.59, in New York trading.