Bank of Montreal
BMO: XTSE (CAN)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
CAD 756.00 | Fycsnl | Hhsxvmwz |
Bank of Montreal Earnings: Weak First-Quarter Results From Higher Provisioning
Narrow-moat Bank of Montreal reported disappointing fiscal first-quarter earnings. Adjusted net income was CAD 1.9 billion, falling 12% from last year and down 16% from last quarter. Adjusted earnings per share were CAD 2.81, a decrease of 16% year over year and 13% sequentially. The decrease in earnings was primarily driven by credit provisioning and weak capital markets revenue.