bank of montreal (BMO:New York)
bank of montreal (BMO) Snapshot
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Open
$59.84
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Previous Close
$60.37
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Day High
$60.59
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Day Low
$59.63
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52 Week High
01/23/13 - $64.79
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52 Week Low
06/4/12 - $50.95
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Market Cap
39.3B
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Average Volume 10 Days
589.9K
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EPS TTM
$6.45
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Shares Outstanding
651.2M
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EX-Date
04/29/13
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P/E TM
9.6x
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Dividend
$3.00
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Dividend Yield
4.75%
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bank of montreal (BMO) Related Businessweek News
bank of montreal (BMO) Details
Bank of Montreal, together with its subsidiaries, provides various retail banking, wealth management, and investment banking products and services in North America and internationally. It offers personal banking products and services, including deposit and investment services, mortgages, consumer credit, loans, credit cards, financial planning, insurance, and other banking services to individuals, and small and mid-sized businesses; and commercial banking products and services comprising specialized banking, business accounts and plans, credit cards, business loans and commercial mortgages, cash management, investing, foreign exchange, and financial advisory to small business, medium-sized enterprise, and mid-market banking clients. The company also provides capital raising, investing, advisory, treasury, and research services to corporate, institutional, and government clients; and wealth management products and solutions, including insurance products for mainstream, ultra-high net worth, and institutional client segments. As of October 31, 2012, it maintained approximately 1,570 bank branches in Canada and the United States. The company was founded in 1817 and is headquartered in Montreal, Canada.
bank of montreal (BMO) Top Compensated Officers
bank of montreal (BMO) Key Developments
BMO Private Bank announced that Peter O'Connor has been appointed Managing Director, Hinsdale, BMO Private Bank, and Nate Wasson has been appointed Managing Director, Naperville, BMO Private Bank. Katie Vander Zanden, who led both markets, was recently appointed to the new position of Chief Administrative Officer, BMO Private Bank. In this role, Katie assumes overall responsibility for BMO Private Bank compliance, audit, initiatives management and administrative functions. She will also be primary lead on key strategic initiatives designed to improve the overall client experience. Katie has over 33 years of financial service experience and has been with BMO since 1996. In her most recent role, she was responsible for private banking operations in both Hinsdale and Naperville. She has served on the Hinsdale Hospital Foundation Board since 2007, where she sits on the Executive Committee and the Finance Committee, as well as being the Head of Board Governance. Peter O'Connor has been a financial services professional for over 26 years. He has been with BMO since 2000, and his most recent role was that of Senior Private Banker in Hinsdale. He is very involved in the community, currently serving on the Board of the Adventist La Grange Memorial Hospital Foundation (of which he is a past Chairman), as a Governing Board Member of Adventist Midwest Health (overseeing the operations of Hinsdale Hospital, La Grange Hospital, GlenOaks Hospital and Bolingbrook Hospital), and serving on the Annual Event Committee of the Irish American Partnership. He is also Past Co-Chair of the fund-raising committee for the West Suburban Chamber of Commerce & Industry and he is a current Village of La Grange Zoning Board Commissioner.
Bank of Montreal is offered $1.35 billion of senior medium-term notes, series B, consisting of $1 billion aggregate principal amount of 1.450% senior notes due 2018 and $350 million aggregate principal amount of floating-rate notes due 2018, according to a prospectus filed April 5. The 1.450% senior notes will mature April 9, 2018. The company will pay interest on the notes semiannually on April 9 and Oct. 9, beginning Oct. 9, 2013. The record dates are March 25 and Sept. 24. The price to public for the senior notes is 99.794%, plus accrued interest. The notes may be redeemed in principal amounts of $2,000 or any integral multiple of $1,000 in excess thereof at the redemption price, plus accrued and unpaid interest. The floating-rate notes will mature April 9, 2018. The company will pay interest on the notes quarterly on Jan. 9, April 9, July 9 and Oct. 9, beginning July 9, 2013. The record dates are March 25, June 24, Sept. 24 and Dec. 25. The notes may be redeemed on or after the 30th day prior to the maturity date of the notes at 100% of the principal amount of the notes, plus accrued and unpaid interest thereon to the date of redemption. Bank of Montreal is paying underwriting commissions of 0.350% per note for both offerings. The company estimates approximately $1.34 billion of net proceeds from the offering, after deducting underwriting commissions and estimated offering expenses. The net proceeds will be contributed to the general funds of the bank and used for general corporate purposes.
Michael Montgomery has been named Head of National Sales for the U.S. ultra high net worth brands including BMO Private Bank, Harris myCFO, Inc., CTC Consulting, LLC and Cedar Street Advisors. Montgomery has over 20 years of experience and most recently served as managing director of Northern Trust's Wealth Advisory Services unit in Dallas, Texas. Prior to Northern, he was managing director of the Harris myCFO, Inc. Arizona office and served as a family office and investment advisor for clients in Arizona and Palo Alto.
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Industry Analysis
BMO
Industry Average
| Valuation | BMO | Industry Range |
| Price/Earnings | 10.0x |
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| Price/Sales | 2.6x |
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| Price/Book | 1.5x |
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| Price/Cash Flow | 9.6x |
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| TEV/Sales | NM | Not Meaningful |
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