BMO Sep 2019 105.000 call

OPR - OPR Delayed Price. Currency in USD
0.1000
0.0000 (0.00%)
As of 12:10AM EDT. Market open.
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Previous Close0.1000
Open0.1000
Bid0.0000
Ask1.2000
Strike105.00
Expire Date2019-09-20
Day's Range0.1000 - 0.1000
Contract RangeN/A
Volume20
Open Interest20
  • Thomson Reuters StreetEvents

    Edited Transcript of BMO.TO earnings conference call or presentation 27-Aug-19 11:15am GMT

    Q3 2019 Bank of Montreal Earnings Call

  • CNW Group

    Media Advisory - BMO and Plan International Canada Celebrate International Day of the Girl

    TORONTO, Sept. 16, 2019 /CNW/ - For the second year, BMO Financial Group is participating in Plan International Canada's Girl's Belong Here initiative for International Day of the Girl in the role of Leading Sponsor. Starting today and leading up to International Day of the Girl on October 11, BMO will be hosting events to provide mentorship and business leadership experience to young women between the ages of 14-23 years. This will include: a roundtable discussion, hosted by Joanna Rotenberg, Group Head BMO Wealth Management, between women leaders and Plan International youth and "seat share" days during which participating girls will temporarily assume the role of BMO executives.

  • Bloomberg

    BMO’s Aim to Double Indigenous Lending Relies on Old-Style Banking

    (Bloomberg) -- A team of Bank of Montreal commercial bankers have traded their suits and ties for Ford F-150 pickups to reach Canada’s remote regions and build up a part of their business that has yet to see a bad loan.Indigenous banking is one area Chief Executive Officer Darryl White targeted in June when he vowed increased support for small-business lending and sustainable finance, as well as inclusiveness and diversity. The Toronto-based bank plans to double the size of its C$4.4 billion ($3.4 billion) book of indigenous commercial loans, deposits and investments by 2025.“We should actually exceed that by a bit,” Stephen Fay, head of indigenous banking, said in an interview at his Toronto office. “I’m confident we can do it just by doing what we’ve done in the past.”Fay thinks he can beat his boss’s target even as he faces competition to reach the indigenous population, Canada’s fastest-growing group, from rivals including Royal Bank of Canada, Toronto-Dominion Bank and Canadian Imperial Bank of Commerce, as well as new entrants such as private lender Bridging Finance Inc. Growth at Bank of Montreal’s division has been about 21% so far this fiscal year, surpassing its historical pace and above Fay’s annual goal of 19%.Bank of Montreal started an aboriginal banking unit in 1992 with Ron Jamieson, a Mohawk from Six Nations Reserve in Ontario, running the business. He led a lean operation in the early years, with a handful of bankers lending, gathering deposits and establishing on-reserve housing-loan programs. Then Fay was tapped for a commercial-banking deal, his area of expertise.“I was able to do an infrastructure deal there,” Fay, 62, said. “It took me about six months of hard work trying to gain their trust, but we were successful and Ron liked how I did it.”Isolated AreasJamieson asked Fay to join his team. Fay has headed the unit since 2009, and now oversees eight dedicated bankers across Canada, who are supported by about 60 account managers along with experts from other parts of the bank.Clients are not always easy for the bankers to reach. In Quebec, for example, Bank of Montreal has on-reserve branches at Wemindji and Waskaganish on the James Bay coast, two remote communities linked by a road that takes eight hours to traverse.“All, with the exception of one, have an F-150 because what I found was the previous vehicles we were giving them when they were going into these remote communities would get damaged on some of the roads,” Fay said.Success requires doing things differently: ditching neckties and forgoing email, and instead traveling to indigenous communities for face-to-face meetings -- and listening, Fay said.“Picking up the phone and using text is not going to work,” he said. “You go into the community and spend time talking to people. You may not even talk about business in the first one or two visits, but you’re going to get to know people and build that trust and then try and find a way to provide value.”Membertou First Nation, an urban Mi’kmaq community of 1,700 on the east coast’s Cape Breton Island, has dealt with Bank of Montreal for almost a decade, a relationship that began with a cold call from Fay, said Mike McIntyre, Membertou’s chief financial officer.Sports ComplexThe two built up a dialogue and the first deal was a C$700,000 loan to buy a garage for housing public-works equipment, McIntyre said. The bank has since provided more than C$20 million for on-reserve housing, fishing boats and a sports complex.“They get it,” McIntyre said. “These guys are sincere and the people they have working for them strictly deal with First Nation banking.”The biggest deal for Bank of Montreal’s indigenous banking unit this year was about C$80 million, involving a real estate development in western Canada. About 70% of the unit’s loans are less than C$20 million. Other areas of banking include providing on-reserve home loans, cash-management services, infrastructure finance and helping indigenous groups with land-claims settlements, which have resulted in trusts that spin off income.The bank has set up 122 on-reserve housing-loan programs, an initiative started in 1995 and designed to permit loans even with Indian Act restrictions on land ownership and mortgages. Under the programs, the borrowing risk falls to both the bank and the community.Indigenous banking has also proven to be a low-risk venture, more akin to lending to cities and other governments since the main borrowers are the band or wholly owned entities.“We’ve had no write-offs and, if you ask the other banks, they’ll tell you the same thing,” Fay said. “We look at First Nations or indigenous governments as a government: They’ve got elected chiefs and councils, they are here for the long haul and are not going to go away.”To contact the reporter on this story: Doug Alexander in Toronto at dalexander3@bloomberg.netTo contact the editors responsible for this story: Michael J. Moore at mmoore55@bloomberg.net, ;David Scanlan at dscanlan@bloomberg.net, Daniel Taub, Jacqueline ThorpeFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • CNW Group

    BMO Capital Markets' Fixed Income Strategy Group Earns Top Rankings from Institutional Investor

    #1 in U.S. Rates Strategy, Technical Analysis, and Federal Agency Debt Strategy TORONTO and NEW YORK, Sept. 12, 2019 /CNW/ - BMO Capital Markets' Fixed Income Strategy group claimed top honours in Institutional ...

  • CNW Group

    BMO Introduces a Fully Digital Line of Credit Solution to Accelerate the Lending Experience for Mobile Customers

    TORONTO, Sept. 10, 2019 /CNW/ - BMO Bank of Montreal announced the launch of a new lending solution which provides customers the simplicity of applying for a personal line of credit directly from their mobile devices. "Canadians continue to turn to their mobile devices for their day-to-day banking. A true digital experience: An application can be completed from a mobile device through a simple digital interface.

  • CNW Group

    Bank of Montreal Announces Subordinated Note Issue

    TORONTO, Sept. 9, 2019 /CNW/ - Bank of Montreal (TSX:BMO.TO - News) (NYSE:BMO - News) today announced a domestic public offering of $1.0 billion of subordinated notes (Non-Viability Contingent Capital (NVCC)) (the "Notes") through its Canadian Medium-Term Note Program. BMO Capital Markets is acting as lead agent on the issue. The Bank may, at its option, with the prior approval of the Office of the Superintendent of Financial Institutions Canada (the "Superintendent"), redeem the Notes on or after September 17, 2024, at par, in whole at any time or in part from time to time, on not less than 30 days' and not more than 60 days' notice to registered holders, at a redemption price that is equal to par, together with accrued and unpaid interest to, but excluding, the date fixed for redemption.

  • Team Belgium Claim Victory in the 2019 BMO Nations' Cup at Spruce Meadows
    CNW Group

    Team Belgium Claim Victory in the 2019 BMO Nations' Cup at Spruce Meadows

    Over 62,000 dedicated fans attended the annual competition Team Belgium crowned champions for the first time CALGARY , Sept. 7, 2019 /CNW/ - Team Belgium claimed the top prize at the 2019 BMO Nations' ...

  • CNW Group

    BMO Housing Survey: Over 40 Per Cent of First-time Home Buyers Believe Now Is a Good Time to Buy

    TORONTO, Sept. 3, 2019 /CNW/ - According to a new survey released today by BMO, first-time home buyers generally have a positive outlook on the housing market. Across Canada, first-time buyers in Alberta are the most optimistic with over 50 per cent believing it is a good time to buy. Home buyers in British Columbia and the Prairies are also fairly optimistic about the market (42 per cent in both regions).

  • CNW Group

    BMO Bank of Montreal Named Best Commercial Bank in Canada

    TORONTO, Aug. 30, 2019 /CNW/ - BMO has been awarded Best Commercial Bank in Canada, 2019 by World Finance Magazine. The 2019 World Finance Banking Awards recognized BMO's strong client centric strategy, investment in digitization, diverse product offering and holistic understanding of its commercial clients' banking needs. "Being recognized as the best commercial bank in Canada for five consecutive years speaks to our ability to keep our clients at the heart of everything we do.

  • Bank of Montreal (BMO) Down 3.8% Despite Q3 Earnings Rise
    Zacks

    Bank of Montreal (BMO) Down 3.8% Despite Q3 Earnings Rise

    Higher revenues, and decent loan and deposit growth support Bank of Montreal's (BMO) fiscal Q3 earnings. However, increase in credit costs is a headwind.

  • CNW Group

    Media Advisory - BMO Financial Group's CEO Darryl White to speak at the Scotiabank Financials Summit 2019

    TORONTO , Aug. 28, 2019 /CNW/ -   Darryl White , Chief Executive Officer, BMO Financial Group (TSX: BMO) (NYSE: BMO), will speak at the Scotiabank Financials Summit in Toronto on September 4, 2019 , at ...

  • Bank of Montreal (BMO) Q3 2019 Earnings Call Transcript
    Motley Fool

    Bank of Montreal (BMO) Q3 2019 Earnings Call Transcript

    BMO earnings call for the period ending June 30, 2019.

  • Scotiabank Latam Push Outpaces Bank of Montreal U.S. Efforts
    Bloomberg

    Scotiabank Latam Push Outpaces Bank of Montreal U.S. Efforts

    (Bloomberg) -- Bank of Nova Scotia’s focus on Latin America proved a better bet than Bank of Montreal’s U.S. push in the fiscal third quarter.Scotiabank’s earnings topped analysts’ estimates on a surge in profit in its international-banking division, fueled by a sharpened focus on Latin America, and lower provisions for loan losses. Bank of Montreal, meanwhile, fell short of expectations amid greater set-asides for bad loans and more muted growth at its U.S. personal-and-commercial banking division.“Scotia’s beat against expectations was almost the polar opposite of BMO’s this morning: better-than-expected provisions, largely reflecting reversals of previous provisions on performing loans,” Barclays Plc analyst John Aiken said Tuesday in a note to clients. “The largest beneficiary is the international segment.”Scotiabank shares gained 0.9% to C$68.39 at 12:18 p.m. in Toronto, while Bank of Montreal plunged 4.1% to C$88.59, its steepest intraday decline since February 2016. Scotiabank is up 0.5% this year, compared with Bank of Montreal’s 0.7% decline and the 3% gain for Canada’s eight-company S&P/TSX Commercial Banks Index.At Scotiabank, the international-banking division earned C$902 million ($682 million), up 90% from a year ago, when results were pared by acquisition costs. Adjusted profit in the division was up 20%, the biggest gain among the Toronto-based lender’s three main segments. Chief Executive Officer Brian Porter has been focusing on the stable Latin American markets of Mexico, Chile, Colombia and Peru, with a recent acquisition in Chile helping drive growth as the bank retreated from other areas.At smaller competitor Bank of Montreal, which has focused on the U.S. for greater growth under CEO Darryl White, the earnings increase at its U.S. personal-and-commercial unit, which includes Chicago-based BMO Harris Bank, cooled to 1.1%. That was the smallest expansion since the fourth quarter of fiscal 2017 and was due to higher loan losses and declining net interest margins. Still, profit from the Toronto-based bank’s overall U.S. operations, which include capital markets and wealth management in the country, was up 17% from a year ago.‘Strong Level’“Our growth in U.S. personal and commercial has really been very, very good over the last few years, and well in excess of peers,” Chief Financial Officer Tom Flynn said in an interview. “We’ve talked about expecting some moderation from the very strong level of growth we’ve had as a reasonable thing to expect, and we’re confident in our ability to continue to outperform peers.”Bank of Montreal expects to do better than its peers in the U.S. even amid an economic backdrop hampered by trade uncertainties, an issue White flagged during a conference call with analysts.“It’s hard to ignore the fact that the trade tensions are creating, first of all, volatility in the markets, as you know well, but also some suppression of growth,” White said. “Our customer base in Canada and the U.S. continues to spend and continues to expand, I would say, a little bit more prudently than perhaps they might have six or 12 months ago.”Scotiabank had adjusted earnings of C$1.88 a share for the three months through July 31, topping analysts’ average estimate of C$1.85, while Bank of Montreal’s adjusted earnings of C$2.38 fell short of the C$2.49 estimate. The miss was driven by higher loan-loss provisions as Canadian consumer losses rose with the migration to a new collections platform, the bank recorded a single large loss from an impaired Canadian commercial loan in the health-care sector and set-asides for performing loans were increased.Loan Losses“Our loan losses were up in the quarter and they were up from low levels in the last two quarters,” Flynn said, adding that that the prior quarters benefited from recoveries. “We do expect the loan losses to be down from the current level that we had in the third quarter as we look out to the fourth quarter.”Bank of Montreal also said Tuesday that it’s winding down its property and casualty reinsurance operations.“In light of the environment in the reinsurance sector, performance is no longer meeting our risk-return expectations and so we’ve made the strategic decision to exit the majority of this business,” White said on his company’s call.(Updates with analyst, executive comments starting in third paragraph.)To contact the reporter on this story: Doug Alexander in Toronto at dalexander3@bloomberg.netTo contact the editors responsible for this story: David Scanlan at dscanlan@bloomberg.net, ;Michael J. Moore at mmoore55@bloomberg.net, Daniel Taub, Josh FriedmanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Bank of Montreal (BMO) Q3 Earnings Lag Estimates
    Zacks

    Bank of Montreal (BMO) Q3 Earnings Lag Estimates

    Bank of Montreal (BMO) delivered earnings and revenue surprises of -3.76% and 12.30%, respectively, for the quarter ended July 2019. Do the numbers hold clues to what lies ahead for the stock?

  • Bloomberg

    Bank of Montreal’s U.S. Growth Slows as Estimates Missed

    (Bloomberg) -- Bank of Montreal’s Canadian retail bank has finally taken back the spotlight from its U.S. counterpart as the company missed earnings estimates.The lender’s U.S. personal-and-commercial banking division, which includes Chicago-based BMO Harris Bank, has increased profit at a faster pace than its Canadian retail bank since the beginning of fiscal 2018. That ended in the fiscal third quarter, with earnings growth in the U.S. division rising 1.1% from a year earlier, matching the expansion at the company’s Canadian retail bank.Key InsightsChief Executive Officer Darryl White said in a June interview that he expected the U.S. to grow faster than the rest of the bank, albeit at a slower pace than recent quarters. Earnings from its U.S. operations were up 17% from a year earlier. The U.S. retail-banking division posted profit of C$368 million ($278 million), with year-over-year growth the slowest since the last quarter of the 2017 fiscal year.Despite the U.S. focus, Canadian banking remains Bank of Montreal’s largest division. The domestic retail bank posted earnings of C$648 million in the quarter.Executives have been pushing to boost productivity at Bank of Montreal, the least-efficient among Canada’s biggest banks. The bank’s adjusted efficiency ratio -- a measure of what it costs to produce a dollar of revenue -- was 59.9% in the third quarter, compared with White’s target of 58% or better by the end of fiscal 2021.Bank of Montreal’s provisions for soured loans surged from the second quarter and a year earlier to its highest level in at least two years. The Toronto-based lender set aside C$306 million for provisions, up from C$186 million a year ago and C$176 million in the second quarter.Market ReactionBank of Montreal shares have risen 3.6% this year through Monday, compared with a 3.7% gain for Canada’s eight-company S&P/TSX Commercial Banks Index.Get MoreThird-quarter net income rose 1.3% to C$1.56 billion, or C$2.34 a share, from C$1.54 billion, or C$2.31 a share, a year earlier. Adjusted per-share earnings totaled C$2.38 a share, missing the C$2.49 average estimate of 14 analysts in a Bloomberg survey.Read more about Bank of Montreal’s quarterly results here.(Updates with total U.S. earnings in second bullet point.)To contact the reporter on this story: Doug Alexander in Toronto at dalexander3@bloomberg.netTo contact the editors responsible for this story: Michael J. Moore at mmoore55@bloomberg.net, ;David Scanlan at dscanlan@bloomberg.net, Daniel Taub, Steve DicksonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • CNW Group

    BMO Financial Group Declares Dividends

    TORONTO , Aug. 27, 2019 /CNW/ - Bank of Montreal (TSX:BMO) (NYSE:BMO) today announced that its Board of Directors declared a quarterly dividend of $1.03 per share on paid-up common shares of Bank of Montreal ...

  • CNW Group

    BMO Financial Group Reports Third Quarter 2019 Results

    Financial Results Highlights Third Quarter 2019 Compared With Third Quarter 2018: Reported net income of $1 ,557 million and adjusted net income 1  of $1 ,582 million, both up 1% Reported EPS 2  of $2 ...

  • Golar LNG (GLNG) Gears Up for Q2 Earnings: A Beat in Store?
    Zacks

    Golar LNG (GLNG) Gears Up for Q2 Earnings: A Beat in Store?

    Rising operating expenses are likely to affect Golar LNG's (GLNG) Q2 performance. However, strength in the shipping market is expected to aid quarterly results.

  • StealthGas (GASS) to Report Q2 Earnings: What's in Store?
    Zacks

    StealthGas (GASS) to Report Q2 Earnings: What's in Store?

    StealthGas' (GASS) second-quarter 2019 results are likely to be aided by lower costs. However, the company may suffer on the top-line front.

  • CNW Group

    BMO Asset Management Inc. Announces Cash Distributions for Certain BMO Exchange Traded Funds

    TORONTO , Aug. 21, 2019 /CNW/ - BMO Asset Management Inc. today announced the August 2019 cash distributions for BMO Exchange Traded Funds (BMO ETFs) that distribute monthly. Unitholders of record of the ...

  • Bank of Montreal (BMO) Earnings Expected to Grow: Should You Buy?
    Zacks

    Bank of Montreal (BMO) Earnings Expected to Grow: Should You Buy?

    Bank of Montreal (BMO) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

  • Why Bank of Montreal (BMO) is Poised to Beat Earnings Estimates Again
    Zacks

    Why Bank of Montreal (BMO) is Poised to Beat Earnings Estimates Again

    Bank of Montreal (BMO) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.

  • Are You Looking for a High-Growth Dividend Stock? Bank of Montreal (BMO) Could Be a Great Choice
    Zacks

    Are You Looking for a High-Growth Dividend Stock? Bank of Montreal (BMO) Could Be a Great Choice

    Dividends are one of the best benefits to being a shareholder, but finding a great dividend stock is no easy task. Does Bank of Montreal (BMO) have what it takes? Let's find out.

  • Zayo (ZAYO) to Report Q4 Earnings: What's in the Offing?
    Zacks

    Zayo (ZAYO) to Report Q4 Earnings: What's in the Offing?

    Zayo's (ZAYO) fiscal fourth-quarter results are likely to benefit from a diversified blue-chip customer base that comprises the largest and most sophisticated users of bandwidth.

  • Canadian Banks Due to Report Q3 Earnings: RY, CM, BNS & More
    Zacks

    Canadian Banks Due to Report Q3 Earnings: RY, CM, BNS & More

    Canadian banks are expected to report decent earnings growth, driven by slight rise in interest income. However, dismal non-interest income performance and higher expenses may act as dampeners.