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.

NEW YORK , July 8, 2024 Bank of Montreal (TSX:BMO)(NYSE:BMO) today announced that it intends to redeem all of the outstanding securities in each of the series set forth in the following table (collectively, the "Affected Securities"):  NYSE Arca Ticker ETN Name and Pricing Supplement* CUSIP Call Settlement Date BNKU MicroSectorsTM U.S. Big Banks Index 3X Leveraged ETNs due March 25, 2039 063679823 July 25, 2024 BNKD MicroSectorsTM U.S. Big Banks Index -3X Inverse Leveraged ETNs due March 25, 2039 06367V501 July 25, 2024 NRGU MicroSectors™ U.S. Big Oil Index 3X Leveraged ETNs 06367V105 July 25, 2024 NRGD MicroSectors™ U.S. Big Oil Index -3X Inverse Leveraged ETNs 06368L106 July 25, 2024 * The table above provides, for each of the Affected Securities, which are identified by their names, a hyperlink to the relevant pricing supplement.  Hyperlinks to the applicable base prospectus and prospectus supplement are contained in such pricing supplements.

BMO Announces Redemption of Four Exchange Traded Notes ("ETNs")

Bank of Montreal is reportedly leading a group of underwriters launching a $2.55 billion loan to back the previously announced acquisition of Canadian payments processor Nuvei. The loan will have a seven-year term and will help fund the $6.3 billion leveraged buyout led by Advent International, management, Novacap and CDPQ, Bloomberg reported Monday (July 8), citing unnamed sources.

Report: Bank of Montreal Leads $2.55 Billion Loan in Nuvei Deal

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A drastic increase in provisions and fall in NII hurt Bank of Montreal's (BMO) fiscal Q2 earnings. Higher non-interest income, solid loan balance and a marginal decline in expenses offer support.

Bank of Montreal (BMO) Tanks 9.5% as Q2 Earnings Decline

Shares of Bank of Montreal or BMO Financial Group (BMO) plunged over 8% in intraday trading Wednesday after the Canadian financial firm posted worse-than-expected results. The money it set aside to cover bad loans rose from the prior quarter and it also reported that its U.S. business weakened.

Bank of Montreal Stock Tumbles After Earnings—Here's Why

Bank of Montreal (NYSE:BMO ) Q2 2024 Earnings Conference Call May 29, 2024 8:00 AM ET Company Participants Christine Viau - IR Darryl White - CEO Tayfun Tuzun - CFO Piyush Agrawal - Chief Risk Officer Ernie Johannson - Head of BMO North American Personal and Business Banking Nadim Hirji - Head of BMO Commercial Banking Conference Call Participants Ebrahim Poonawala - Bank of America Matthew Lee - Canaccord Doug Young - Desjardins Capital Markets Meny Grauman - Scotiabank John Aiken - Jefferies Gabriel Dechaine - National Bank Financial Lemar Persaud - Cormark Securities Nigel D'Souza - Veritas Investment Research Mario Mendonca - TD Securities Mike Rizvanovic - Keefe, Bruyette, & Woods Darko Mihelic - RBC Capital Markets Paul Holden - CIBC Operator Good morning and welcome to the BMO Financial Group's Q2 2024 Earnings Release and Conference Call for May 29, 2024. Your host for today is Christine Viau.

Bank of Montreal (BMO) Q2 2024 Earnings Call Transcript

Bank of Montreal (CSE:BMO) shares fell almost 8% after the Canadian bank's fiscal second quarter profits failed to meet Street expectations. For the quarter ended April 30, the company's adjusted net income fell to C$2.03 billion from $2.19 billion in the year-ago period.

BMO shares fall as credit loss provisions, weak US business performance hit 2Q profits

Bank of Montreal (BMO) came out with quarterly earnings of $1.91 per share, missing the Zacks Consensus Estimate of $2.01 per share. This compares to earnings of $2.16 per share a year ago.

Bank of Montreal (BMO) Misses Q2 Earnings and Revenue Estimates

TORONTO , May 29, 2024 /PRNewswire/ - Bank of Montreal (TSX: BMO) (NYSE: BMO) today announced at its Board of Directors declared a quarterly dividend of $1.55 per share on paid-up common shares of Bank of Montreal for the third quarter of fiscal year 2024 ("Q3 2024 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: $0.2265 per share on paid-up Class B Preferred Shares Series 29; $0.240688 per share on paid-up Class B Preferred Shares Series 31; $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

BMO's Second Quarter 2024 Report to Shareholders, including the unaudited interim consolidated financial statements for the period ended April 30, 2024 are available online at www.bmo.com/investorrelations and at www.sedarplus.ca. Financial Results Highlights Second Quarter 2024 compared with Second Quarter 2023: Net income of $1,866 million, compared with $1,029 million; adjusted net income1, 2 of $2,033 million, compared with $2,186 million Reported earnings per share (EPS)3 of $2.36, compared with $1.26; adjusted EPS1, 2, 3 of $2.59, compared with $2.89 Provision for credit losses (PCL) of $705 million, compared with $1,023 million on a reported basis and $318 million on an adjusted basis1 Return on equity (ROE) of 9.9%, compared with 5.5%; adjusted ROE1, 2 of 10.9%, compared with 12.6% Common Equity Tier 1 (CET1) Ratio4 of 13.1%, compared with 12.2% Declared a quarterly dividend of $1.55 per common share, an increase of $0.08 or 5% from the prior year and $0.04 or 3% from the prior quarter Year-to-Date 2024 compared with Year-to-Date 2023: Net income of $3,158 million, compared with $1,162 million; adjusted net income1,2 of $3,926 million, compared with $4,344 million Reported EPS3 of $4.08, compared with $1.42; adjusted EPS1,2,3 of $5.14, compared with $5.94 PCL of $1,332 million, compared with $1,240 million on a reported basis and $535 million on an adjusted basis1 ROE of 8.5%, compared with 3.0%; adjusted ROE1,2 of 10.7%, compared with 12.8% Adjusted1, 2 results in the current quarter and the prior year excluded the following items: Impact of an incremental U.S. Federal Deposit Insurance Corporation (FDIC) special assessment of $50 million ($67 million pre-tax) in the current quarter.

BMO Financial Group Reports Second Quarter 2024 Results

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Canadian banks are expected to face significant volatility in the upcoming 2Q24 earnings season, according to a recent analyst note from Bank of America. The report highlights year-to-date underperformance against US and EU peers, driven by macroeconomic concerns and less appealing valuations.

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Portfolio changes in April focus on BDCs, aiming to increase dividend income by at least $100 each month. Dividend income hit a new all-time record for April of $736, basically flat Y/Y and up 12% sequentially. Gifted Working Time 2024: Around 85 hours, or 10.6 days, of active work have been replaced with passive income in 2024, which is equivalent to more than two entire workweeks.

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Global stock indices continued an upward trend in March, with both U.S. and non-U.S. stocks rising by 3%.

March's Dividend Portfolio Update Sets New All-Time Record - 100 Holdings, 21 Buys

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Big tech earnings are approaching, but I'm not betting on them. Big tech stocks have gotten too expensive. I have sold most of my U.S. tech stocks and reinvested the proceeds into high-income investments.

Forget Big Tech Earnings, Buy Income Instead

NEW YORK , April 19, 2024 /PRNewswire/ - Bank of Montreal (TSX: BMO) (NYSE: BMO) today announced that it will implement a reverse split of two series of its outstanding exchange traded notes (the "ETNs" or "Notes"), as listed in the table below, expected to be effective as of April 29, 2024 (the "effective date"). The table below indicates the ETNs that will be subject to the reverse split, their trading symbols, the applicable reverse split ratio, their current CUSIP numbers, and the CUSIP numbers that they will receive after giving effect to the reverse split: ETNs Ticker Symbol Reverse Split Ratio Current CUSIP / New CUSIP MicroSectorsTM U.S. Big Banks Index -3X Inverse Leveraged ETNs due March 25, 2039 BNKD 1-for-5 063679625 / 06367V501 MicroSectorsTM Gold Miners -3X Inverse Leveraged ETNs due June 29, 2040 GDXD 1-for-10 063679641 / 06367V600 Each reverse split will be effective at the open of trading on April 29, 2024.

BMO Announces Reverse Split of Two Series of ETNs

TORONTO , April 16, 2024 /PRNewswire/ - Bank of Montreal (TSX:BMO) (NYSE:BMO) today held its Annual Meeting of Shareholders. At the meeting, all director nominees listed in the bank's management proxy circular dated February 7, 2024 were elected.

BMO Announces Election of Board of Directors

The U.S. economy was showing signs of stronger than expected growth, with California being a strategically important market, said the head of Bank of Montreal , which has rapidly expanded in its southern neighbour.

BMO chief says US economy improving, calls California 'a strategically important market'

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Tech stocks are running hot in 2024, with the NASDAQ-100 approaching 40 times earnings. Most tech companies haven't delivered the kinds of results that justify such valuations. For this reason, I'm prioritizing income for fresh buys in 2024. This includes dividend stocks as well as term deposits.

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NEW YORK , March 15, 2024 /PRNewswire/ - Bank of Montreal (TSX: BMO)(NYSE: BMO) announced today that it will implement a 1-for-10 reverse split of three series of its outstanding exchange traded notes, as listed in the table below (the "ETNs" or "Notes"), expected to be effective as of March 25, 2024 (the "effective date," or the "ex date"). The table below indicates the ETNs that will be subject to the reverse split, their trading symbols, their current CUSIP numbers, and the CUSIP numbers that they will receive after giving effect to the reverse split: ETNs Ticker Symbol Current CUSIP / New CUSIP MicroSectorsTM FANG & Innovation -3X Inverse Leveraged ETNs due June 28, 2041 BERZ 063679591/ 063679450 MicroSectorsTM FANG+ Index -3X Inverse Leveraged ETNs due January 8, 2038 FNGD 06367V204 / 06367V402 MicroSectorsTM Travel -3X Inverse Leveraged ETNs due May 29, 2042 FLYD 06368J101 / 06368J309  The reverse split will be effective at the open of trading on March 25, 2024.

BMO Announces the Reverse Split of Three Series of ETNs

US stocks climbed higher in February with the DJIA adding 0.4% and the S&P closing in on the 5,000-point mark.

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TORONTO and CHICAGO, March 7, 2024 /PRNewswire/ - BMO (TSX: BMO) (NYSE: BMO) today announced that it has filed its 2024 Notice of Annual Meeting of Shareholders and Management Proxy Circular with applicable securities regulators. BMO also announced the release of its 2023 Sustainability reporting suite.

BMO Proxy Circular and 2023 Sustainability Reporting Suite Now Available

Bank of Montreal (BMO) records y/y increases in revenues and expenses in the first quarter of fiscal 2024.

Bank of Montreal (BMO) Dips as Q1 Earnings Fall Y/Y, Costs Rise

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Bank of Montreal (BMO) Q1 2024 Earnings Call Transcript

BMO's First Quarter 2024 Report to Shareholders, including the unaudited interim consolidated financial statements for the period ended January 31, 2024 are available online at www.bmo.com/investorrelations and at www.sedarplus.ca . Financial Results Highlights First Quarter 2024 Compared with First Quarter 2023: Net income of $1,292 million, compared with $133 million; adjusted net income1, 2 of $1,893 million, compared with $2,158 million Reported earnings per share (EPS)3 of $1.73, compared with $0.14; adjusted EPS1, 2, 3 of $2.56, compared with $3.06 Provision for credit losses (PCL) of $627 million, compared with $217 million Return on equity (ROE) of 7.2%, compared with 0.6%; adjusted ROE1, 2 of 10.6%, compared with 12.9% Common Equity Tier 1 (CET1) Ratio4 of 12.8%, compared with 18.2% Adjusted1, 2 results in the current quarter and the prior year excluded the following items: Impact of a U.S. Federal Deposit Insurance Corporation (FDIC) special assessment of $313 million ($417 million pre-tax) in the current quarter.

BMO Financial Group Reports First Quarter 2024 Results

Bank of Montreal (BMO) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.

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News for Bank of Montreal Stock (BMO)