Last $76.94 USD
Change Today +2.08 / 2.78%
Volume 415.5K
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As of 11:47 AM 08/27/14 All times are local (Market data is delayed by at least 15 minutes).

bank of montreal (BMO) Key Developments

BMO Financial Group Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended July 31, 2014

BMO Financial Group reported unaudited consolidated earnings results for the third quarter and nine months ended July 31, 2014. For the quarter, the company reported net interest income of CAD 2,107 million compared to CAD 2,183 million a year ago. Revenue was CAD 4,215 million compared to CAD 4,000 million a year ago. Net income attributable to bank shareholders was CAD 1,110 million compared to CAD 1,107 million a year ago. Return on equity was 14.4% compared to 15.5% a year ago. Diluted earnings per share was CAD 1.67 compared to CAD 1.66 a year ago. Adjusted net interest income was CAD 197 million compared to CAD 191 million a year ago. Total adjusted revenue increased CAD 174 million or 4% from the second quarter. Adjusted ROE was14.9%, compared with 15.5%. Book value per share was CAD 46.69 compared to CAD 41.96 a year ago. Return on average assets was 0.74% compared to 0.79% a year ago. For the nine months, the company reported net interest income of CAD 6,283 million compared to CAD 6,560 million a year ago. Revenue was CAD 12,378 million compared to CAD 11,925 million a year ago. Net income attributable to bank shareholders was CAD 3,220 million compared to CAD 3,069 million a year ago. Return on equity was 14.3% compared to 14.9% a year ago. Adjusted net interest income was CAD 449 million compared to CAD 426 million a year ago. Adjusted revenue increased CAD 1,016 million or 9%. Adjusted ROE was 14.7%, compared with 15.0%. Book value per share was CAD 46.69 compared to CAD 41.96 a year ago. Return on average assets was 0.73% compared to 0.74% a year ago.

Bank of Montreal Declares Dividend on Common Shares, Payable on November 26, 2014; Announces Preferred Dividend, Payable on November 25, 2014

Bank of Montreal announced that the Board of Directors declared a quarterly dividend of $0.78 per share on paid-up common shares of Bank of Montreal for the fourth quarter of fiscal year 2014, unchanged from the previous quarter. The Board of Directors also declared dividends of: $0.28125 per share on paid-up Class B Preferred Shares Series 13; $0.328125 per share on paid-up Class B Preferred Shares Series 14; $0.3625 per share on paid-up Class B Preferred Shares Series 15; $0.211875 per share on paid-up Class B Preferred Shares Series 16; $0.163142 per share on paid-up Class B Preferred Shares Series 17; $0.3375 per share on paid-up Class B Preferred Shares Series 23; $0.24375 per share on paid-up Class B Preferred Shares Series 25; $0.25 per share on paid-up Class B Preferred Shares Series 27; $0.45945 per share on paid-up Class B Preferred Shares Series 29; and $0.30712 per share on paid-up Class B Preferred Shares Series 31. The dividend on the common shares is payable on November 26, 2014, to shareholders of record on November 3, 2014. The dividends on the preferred shares are payable on November 25, 2014, to shareholders of record on November 3, 2014.

Bank of Montreal Appoints Sean Sullivan as New Co-Head for Industrials Banking in the US

Bank of Montreal announced that it has appointed Sean Sullivan as new co head for Industrials Banking in the US. He most recently headed the North American industrials investment-banking operations for Jefferies & Co. In his new position, he will share responsibilities with Scott Humphrey, the other co-head of US industrials.

BMO Bank of Montreal Announces Management Changes

BMO Bank of Montreal announced the appointment of Mario Rigante as its new Senior Vice President, Quebec Division. Mr. Rigante will succeed François Hudon. Mr. Rigante will lead a team of more than 2,000 personal and commercial banking experts who meet the needs of one million clients through BMO's network of 146 branches in Quebec. He was Vice President, Commercial Banking for the Metropolitan Montreal area for the past year. Prior to that, he had been District Vice President, Laval and Northwest Quebec since 2007. François Hudon was appointed to the newly created position of Head, North American Customer Contact Centres (CCC), BMO Financial Group. In this role, Mr. Hudon will develop and implement an operating strategy for a North American-wide, multilingual CCC that is aligned with BMO Personal and Commercial Client Group strategies for Canada and the United States as well as its Private Client Group. He will assume oversight of a team of 3,000 employees in call centres in Montreal, Toronto, Chicago and Milwaukee. Mr. Hudon had managed the Quebec Division of BMO Bank of Montreal since 2001, and was also Co-Head of North American Specialized Sales at BMO.

BMO Financial Group Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended April 30, 2014

BMO Financial Group announced unaudited consolidated earnings results for the second quarter and six months ended April 30, 2014. For the quarter, the company announced net interest income of CAD 2,063 million compared to CAD 2,129 million for the same period a year ago. Revenue was CAD 4,041 million compared to CAD 3,893 million for the same period a year ago. Net income was CAD 1,076 million compared to CAD 962 million for the same period a year ago. Net income attributable to bank shareholders was CAD 1,062 million compared to CAD 944 million for the same period a year ago. Earnings per share were CAD 1.60 compared to CAD 1.40 for the same period a year ago. Book value per share at the end of the period was CAD 45.95 compared to CAD 40.87 for the same period a year ago. Return on equity was 14.3% compared to 14.2% for the same period a year ago. Return on average assets was 0.73% compared to 0.70% for the same period a year ago. Adjusted net income was CAD 1,097 million compared to CAD 984 million for the same period a year ago. Net income attributable to bank shareholders was CAD 1,083 million compared to CAD 966 million for the same period a year ago. Adjusted net earnings per share were CAD 1.63 compared to CAD 1.44 for the same period a year ago. Adjusted return on equity was 14.6% compared to 14.6% for the same period a year ago. For the six months, the company announced net interest income of CAD 4,176 million compared to CAD 4,377 million for the same period a year ago. Revenue was CAD 8,163 million compared to CAD 7,925 million for the same period a year ago. Net income was CAD 2,137 million compared to CAD 1,998 million for the same period a year ago. Net income attributable to bank shareholders was CAD 2,110 million compared to CAD 1,962 million for the same period a year ago. Earnings per share were CAD 3.18 compared to CAD 2.91 for the same period a year ago. Return on equity was 14.3% compared to 14.6% for the same period a year ago. Return on average assets was 0.72% compared to 0.71% for the same period a year ago. Adjusted net income was CAD 2,180 million compared to CAD 2,013 million for the same period a year ago. Net income attributable to bank shareholders was CAD 2,153 million compared to CAD 1,977 million for the same period a year ago. Adjusted net earnings per share were CAD 3.24 compared to CAD 2.94 for the same period a year ago. Adjusted return on equity was 14.6% compared to 14.7% for the same period a year ago.

 

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Price/Earnings 12.6x
Price/Sales 3.3x
Price/Book 1.8x
Price/Cash Flow 12.3x
TEV/Sales NM Not Meaningful
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