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Bank of Montreal BMO Stock Quote

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Morningstar‘s Stock Analysis BMO

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Decent Fourth-Quarter Results for Bank of Montreal; Net Interest Income Still Growing

Analyst Note

| Eric Compton, CFA |

Narrow-moat Bank of Montreal reported OK fiscal fourth-quarter results. Adjusted earnings per share of CAD 3.04 represented a year-over-year decline of 9% and a sequential decline of 2%, essentially in line with our estimate of CAD 3.05. BMO had a relatively decent quarter as it was able to increase adjusted revenue sequentially—something not all peers have managed to accomplish—with the primary driver of the sequential decrease in EPS being higher provisioning. Overall, management’s outlook for positive operating leverage, some net interest margin expansion, and slowing expense growth in 2023 all fit within our previous expectations. The adjusted preprovision pretax earnings growth forecast of 7% for the full year also met expectations. As a result, we do not expect to make a material change to our CAD 146/$105 fair value estimate.

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Key Statistics BMO

Company Profile BMO

Business Description

Bank of Montreal is a diversified financial-services provider based in North America, operating four business segments: Canadian personal and commercial banking, U.S. P&C banking, wealth management, and capital markets. The bank's operations are primarily in Canada, with a material portion also in the U.S.

129 rue Saint-Jacques
Montreal, QC, H2Y 1L6, Canada
T +1 416 867-7366
Industry Banks - Diversified
Most Recent Earnings Oct 31, 2022
Fiscal Year End Oct 31, 2022
Employees 46,000