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Bank of Montreal - Government Trades

Bank of Montreal

Bank of Montreal is a diversified financial-services provider based in North America, operating four business segments: Canadian personal and commercial banking, US 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.

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Why Bank of Montreal Shares Are Trading Lower By Around 7%? Here Are Other Stocks Moving In Wednesday&#39;s Mid-Day Session

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Asia

Commodities

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TECK

Despite global efforts, China&#39;s coal imports are rising, contradicting previous forecasts. Electricity demand and favorable prices drive the country&#39;s continued reliance on imported coal for energy needs.

China Defies Decarbonization Trend As Coal Imports Climb 16.9% In Q1 2024

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Equities

Large Cap

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PowerShares Listed Private Equity Portfolio

Carlyle Group and BMO Global partner to launch private equity strategy for Canada, offering global access to accredited investors through a single fund. 

Carlyle And BMO Team Up: Unveil Private Equity Strategy For Canada

Analyst Color

Mid Cap

Upgrades

Downgrades

Analyst Ratings

B Of A Securities analyst Ebrahim H. Poonawala revised the rating on several Canadian Banks amid a declining rates scenario.

The analyst says the rapid decline in interest rates (5yr yield -120bp since Oct high) lowers the probability of tail risk events posed by a higher for longer scenario. 

Declining Interest Rates Should Boost Investment Appeal For Canadian Banks: BofA Analyst

KKR &amp; Co Inc (NYSE: KKR) disclosed the buyout of a super-prime recreational vehicle (RV) loan portfolio worth $7.2 billion from BMO Bank National Association, 

KKR Secures $7.2B Prime RV Loan Portfolio In Strategic Move With BMO Collaboration

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Bank of Montreal (NYSE: BMO) reported a 

BMO&#39;s Q4 Revenue And Profit Drop, Increases Dividend By 3%

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On Thursday, the CNN Money Fear and Greed index remained in the &#34;Greed&#34; zone.

Fear &amp; Greed Index Remains In &#39;Greed&#39; Zone Following PCE Data; Dow Surges Over 500 Points

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Regulators announced more than $500 million in fines for Wall Street banks due to unauthorized WhatsApp and email communications between employees. Typically, banks and trading firms have strict guidelines that mandate employees to use company-provided emails and phones in order to monitor conversations.

Breaking Compliance: Wall Street Moguls Hit With Major Fines For Unauthorized WhatsApp Chats

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Federal Reserve

September Rate Pause Odds Soar As Wall Street Economists Forecast Weaker Outlook

Short Ideas

FITB

Fifth Third Bancorp (NASDAQ: FITB) announced that it has completed the acquisition of Big Data LLC, a tech-based company based in Madison, WI. Big Data LLC provides solutions for healthcare payments and remittances. The financials of the transactions were not disclosed.


Fifth Third Bancorp Closes Buyout Of Big Data Healthcare

Bank of Montreal FXDFR PRF PERPETUAL CAD 25 - Ser 46 Cls B NVCC

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Macro Economic Events

Economics

HSBC

Fed Bank Stress Test Results: BMO, Citizens Financial And HSBC Saw Lowest Capital Ratios Under Stress Test; Banks Permitted To Report Capital Plans To Investors Beginning Friday Afternoon After Us Market Close

Keefe, Bruyette &amp; Woods analyst Mike Rizvanovic downgrades Bank of Montreal (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMO#NYSE">BMO</a>) from Outperform to Market Perform and lowers the price target from $137 to $124.

Price Target

Keefe, Bruyette & Woods Downgrades Bank of Montreal to Market Perform, Lowers Price Target to $124

Shares of Bank of Montreal (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMO#NYSE">BMO</a>) fell sharply during Wednesday's session after the company reported worse-than-expected <a href="https://www.benzinga.com/quote/BMO/earnings">second-quarter financial results</a>.
Bank of Montreal posted quarterly adjusted earnings of C$2.59 per share, missing market estimates of C$2.77 per share. The company's quarterly sales came in at C$7.988 billion missing expectations of C$8.046 billion, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Bank of Montreal shares declined 7.1% to $89.32 on Wednesday.
Here are some other stocks moving in today&#8217;s mid-day session.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>ReShape Lifesciences Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RSLS#NASDAQ">RSLS</a>) shares jumped 82.8% to $0.3799 a day after it received the nod from the U.S. Patent And Trademark Office to issue a patent for its obesity treatment.</li>
<li>Innovative Eyewear, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LUCY#NASDAQ">LUCY</a>) shares jumped 56.1% to $0.64 after the company launched its Eddie Bauer Smart Eyewear collection.</li>
<li>Brand Engagement Network, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BNAI#NASDAQ">BNAI</a>) climbed 41% to $1.7900 after the company announced a $4.95 million private placement and appointed Paul Chang to co-CEO.</li>
<li>Siyata Mobile Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SYTA#NASDAQ">SYTA</a>) gained 40% to $2.10. The company yesterday announced that it received an order from the City of Lancaster Public Utilities Department for its SD7 Push-to-Talk handsets, VK7 Vehicle Kits and related accessories.</li>
<li>AST SpaceMobile, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASTS#NASDAQ">ASTS</a>) climbed 29% to $6.88 after the company announced a partnership with Verizon for direct-to-cellular AST SpaceMobile service when needed for Verizon customers.</li>
<li>Cheche Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CCG#NASDAQ">CCG</a>) shares gained 25.4% to $1.67. Cheche Group is expected to host a conference call to discuss first quarter 2024 results on Thursday, May 30.</li>
<li>Mustang Bio, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBIO#NASDAQ">MBIO</a>) gained 25% to $0.2370.</li>
<li>Globavend Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GVH#NASDAQ">GVH</a>) jumped 23.5% to $1.89 after the company announced an MOU to acquire Top Logistics.</li>
<li>Ikena Oncology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IKNA#NASDAQ">IKNA</a>) gained 22.5% to $1.63 after the company announced it will discontinue development of IK-930 and evaluate strategic options for both the Company and its development pipeline.</li>
<li>Ooma, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OOMA#NYSE">OOMA</a>) rose 22.3% to $9.66 after the company reported better-than-expected first-quarter financial results and issued strong guidance for the second quarter.</li>
<li>Tantech Holdings Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TANH#NASDAQ">TANH</a>) jumped 22% to $0.80. Tantech recently received a notice of non-compliance from the Nasdaq.</li>
<li>Chewy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHWY#NYSE">CHWY</a>) rose 21.5% to $20.54 following better-than-expected first-quarter earnings.</li>
<li>SOPHiA GENETICS SA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOPH#NASDAQ">SOPH</a>) gained 21.1% to $5.96.</li>
<li>Kintara Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KTRA#NASDAQ">KTRA</a>) climbed 21% to $0.2290.</li>
<li>Surmodics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SRDX#NASDAQ">SRDX</a>) gained 20.3% to $42.23 after the company announced it will be acquired by GTCR for $43 per share in cash for a total equity valuation of roughly $627 million.</li>
<li>Abercrombie &amp; Fitch Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANF#NYSE">ANF</a>) gained 15.9% to $176.57 following better-than-expected first-quarter financial results.</li>
<li>DICK&#8217;S Sporting Goods, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DKS#NYSE">DKS</a>) rose 15.8% to $225.87 as the company reported better-than-expected first-quarter FY24 earnings and raised the outlook.</li>
<li>Semler Scientific, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMLR#NASDAQ">SMLR</a>) rose 14.8% to $33.28. The company recently announced that its board of directors adopted bitcoin as its primary treasury reserve asset.</li>
<li>Scorpius Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCPX#NYSE">SCPX</a>) shares gained 14.2% to $0.1279 after gaining 6% on Tuesday.</li>
<li>Banzai International, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BNZI#NASDAQ">BNZI</a>) gained 13.5% to $0.1989. Banzai, last week, announced the pricing of a $2.5 million public offering.</li>
<li>Neonode Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NEON#NASDAQ">NEON</a>) jumped 12.9% to $3.2746.</li>
<li>Gyre Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GYRE#NASDAQ">GYRE</a>) jumped 12.3% to $11.40. Gyre Therapeutics announced expected addition to the Russell 2000&#xAE; and Russell 3000&#xAE; Indexes.</li>
<li>Immunovant, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IMVT#NASDAQ">IMVT</a>) rose 11.3% to $31.66.</li>
<li>Ascent Solar Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASTI#NASDAQ">ASTI</a>) gained 11.2% to $0.1660 following a 3% decline on Tuesday.</li>
<li>Box, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BOX#NYSE">BOX</a>) rose 9.1% to $27.30 as the company reported its first-quarter financial results.</li>
<li>Titan Machinery Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TITN#NASDAQ">TITN</a>) gained 8.2% to $19.18.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Faraday Future Intelligent Electric Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIE#NASDAQ">FFIE</a>) fell 38.8% to $0.7232. Faraday Future's annual report for fiscal year 2023 showed a revenue of $0.8 million, significantly below analyst estimates of $2.59 million. While the net loss narrowed from $602 million in 2022 to $432 million in 2023, it still paints a concerning financial picture.</li>
<li>AERWINS Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AWIN#NASDAQ">AWIN</a>) shares fell 37% to $5.74. AERWINS Technologies shares jumped 143% on Tuesday after the company reported a year-over-year increase in first-quarter EPS results.</li>
<li>SOBR Safe, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOBR#NASDAQ">SOBR</a>) shares fell 32% to $0.2889 after jumping 84% on Monday.</li>
<li>Cue Health Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HLTH#NASDAQ">HLTH</a>) shares dipped 29.1% to $0.0643 after the company announced that it filed voluntary petitions under Chapter 7 of the U.S. Bankruptcy Code in the District of Delaware to pursue a wind down of its business.</li>
<li>Sharps Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STSS#NASDAQ">STSS</a>) shares declined 26.4% to $0.3810 after surging 141% on Tuesday. In an exchange filing, the company said it has entered into a series of agreements with Nephron SC and Nephron Sterile Compounding Centers.</li>
<li>Fangdd Network Group Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DUO#NASDAQ">DUO</a>) fell 23.8% to $0.8073.</li>
<li>Genetic Technologies Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GENE#NASDAQ">GENE</a>) declined 18.4% to $1.7301. GTG launched revolutionary geneType test covering 100% risk of breast and ovarian cancer.</li>
<li>CN Energy Group. Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CNEY#NASDAQ">CNEY</a>) dipped 18% to $0.51.</li>
<li>Predictive Oncology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/POAI#NASDAQ">POAI</a>) fell 17.6% to $1.72. Predictive Oncology shares surged 31% on Tuesday after the company announced results from its ovarian caner study with UPMC Magee-Womens Hospital.</li>
<li>Maravai LifeSciences Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRVI#NASDAQ">MRVI</a>) dropped 15.3% to $9.15.</li>
<li>American Airlines Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NASDAQ">AAL</a>) shares declined 15.3% to $11.38 after the company announced the departure of its executive vice president and lowered guidance for the second quarter.</li>
<li>Bank OZK (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OZK#NASDAQ">OZK</a>) fell 15% to $39.30 after Citigroup downgraded the stock from Buy to Sell and lowered its price target from $57 to $37.</li>
<li>Crown ElectroKinetics Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRKN#NASDAQ">CRKN</a>) dipped 15% to $0.0909.</li>
<li>Onfolio Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ONFO#NASDAQ">ONFO</a>) shares fell 14.3% to $1.13 in pre-market trading after jumping around 36% on Tuesday. Onfolio Holdings, last week, posted a quarterly loss of 14 cents per share.</li>
<li>Veru Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VERU#NASDAQ">VERU</a>) fell 13.1% to $0.9644.</li>
<li>Telephone and Data Systems, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDS#NYSE">TDS</a>) fell 9.3% to $17.31. JP Morgan analyst Sebastiano Petti maintained Telephone and Data with an Overweight and lowered the price target from $36 to $34.</li>
<li>Toast, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TOST#NYSE">TOST</a>) fell 6.4% to $23.81.</li>
<li>Advance Auto Parts, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AAP#NYSE">AAP</a>) fell 5.5% to $66.28 following quarterly earnings.</li>
<li>CAVA Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAVA#NYSE">CAVA</a>) shares declined 4.2% to $78.92 following first-quarter results.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/05/39062044/amazon-target-diamondback-energy-and-more-on-cnbcs-final-trades">Amazon, Target, Diamondback Energy And More On CNBC&#8217;s &#8216;Final Trades</a>&#8216;

Why Bank of Montreal Shares Are Trading Lower By Around 7%? Here Are Other Stocks Moving In Wednesday's Mid-Day Session

WIIM

Bank of Montreal shares are trading lower after the company reported worse-than-expected Q2 financial results.

&nbsp;Bank of&nbsp;Montreal&nbsp;(TSX:<a class="ticker" href="https://www.benzinga.com/stock/BMO#TSX">BMO</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMO#NYSE">BMO</a>) today announced at its Board of Directors declared a quarterly dividend of&nbsp;$1.55&nbsp;per share on paid-up common shares of Bank of&nbsp;Montreal&nbsp;for the&nbsp;third quarter&nbsp;of fiscal year 2024 (&quot;Q3&nbsp;2024 Dividend&quot;), a&nbsp;4 cent, or 3 per cent, increase from the prior quarter, up 5 per cent from the prior year.

TSX:BMO

Bank Of Montreal Increases Quarterly Dividend To C$1.55/Share From C$1.51, Payable August 27, 2024

Bank of Montreal (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMO#NYSE">BMO</a>) reported quarterly earnings of C$2.59 per share which missed the analyst consensus estimate of C$2.77 by 6.5 percent. This is a 10.38 percent decrease over earnings of C$2.89 per share from the same period last year. The company reported quarterly sales of C$7.988 billion which missed the analyst consensus estimate of C$8.046 billion by 0.72 percent. This is a 2.82 percent increase over sales of C$7.769 billion the same period last year.

Earnings Misses

Bank of Montreal Q2 2024 Adj EPS C$2.59 Misses C$2.77 Estimate, Sales C$7.988B Miss C$8.046B Estimate

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Shares of companies in the broader financial sector are trading lower as stocks fall after hotter-than-expected March inflation data, which has caused rate cut uncertainty.

Despite global efforts towards decarbonization, coal imports in China are on the rise, signaling persistent demand for the commodity. The surge in imports contradicts previous forecasts of a decline, demonstrating China&#8217;s continued reliance on coal for various industrial processes and electricity generation regardless of its strong push into<a href="https://www.benzinga.com/government/24/03/37961518/yellen-issues-warnings-on-chinas-green-energy-exports-it-hurts-american-firms-and-workers"> green energy exports</a>.
According to data compiled by Kpler, <a href="https://www.reuters.com/markets/commodities/chinas-first-quarter-coal-imports-surge-defying-gloomy-forecasts-russell-2024-04-09/">per</a> Reuter's report, China imported 97.43 million metric tons of coal from the seaborne market during the first quarter of 2024, marking a significant increase of 16.9% compared to the same period in 2023.
One of the contributing factors to China&#8217;s increased coal demand is the steady growth in electricity generation, outpacing economic growth. 
The shift towards electrification in industrial processes and rising consumer demand for appliances like air conditioners are driving up electricity consumption. As a result, coal remains a crucial component in meeting the country&#8217;s growing energy needs.
Now read: <a href="https://www.benzinga.com/markets/commodities/24/04/38114381/critical-minerals-race-heats-up-us-eu-challenge-chinas-dominance">Critical Minerals Race Heats Up: US, EU Challenge China&#8217;s Dominance</a>
Moreover, favorable coal prices in the seaborne market make imports competitive against domestic supplies. Despite fluctuations, prices for thermal coal from key suppliers like Indonesia and Australia remain attractive, sustaining China&#8217;s reliance on imported coal. 
The outlook for domestic coal production in 2024 remains modest, with forecasts indicating marginal growth. China&#8217;s domestic output is expected to rise by only 0.8%, leaving room for continued reliance on imports to meet demand.
Meanwhile, <a href="https://news.bloomberglaw.com/banking-law/bmo-drops-anti-coal-policy-amid-wall-street-rebuke-of-esg">per</a> Bloomberg's report, BMO Bank, a subsidiary of The Bank of Montreal (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMO#NYSE">BMO</a>), dropped its policy restricting lending to the coal industry, signaling a shift in attitudes towards coal-related investments. Policy easing aligns with a broader trend of financial institutions reevaluating their stance on fossil fuel investments.
Furthermore, Glencore (OTCPK: GLCNF), a major player in the coal industry, is facing pressure from shareholders to <a href="https://www.benzinga.com/m-a/24/03/37899805/investors-advocate-for-glencore-to-keep-coal-assets-despite-rising-emissions">maintain its coal assets</a> despite growing environmental concerns. The company&#8217;s plan to acquire a significant portion of Teck Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TECK#NYSE">TECK</a>) indicates a commitment to bolstering its coal capacity, emphasizing the financial viability of coal operations.
However, the surge in emissions linked to increased coal production has raised questions about the sustainability of such ventures. Still, Glencore&#8217;s consideration of consulting shareholders and their reluctance to spin off its coal assets indicate that, despite all of its cons, the coal industry is still a viable part of the current system.
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a href="mailto:licensing@benzinga.com">licensing@benzinga.com</a> to get started!
Also read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38145847/oil-at-100-gold-at-3-000-wall-street-veteran-sees-potential-1970s-economic-storm-po">Oil At $100, Gold At $3,000? Wall Street Veteran Sees Potential 1970s Economic Storm, Posing Risks To Biden&#8217;s Reelection</a>
Image generated using artificial intelligence via Midjourney.

The Carlyle Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CG#NASDAQ">CG</a>) inked a collaboration with Bank of Montreal&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMO#NYSE">BMO</a>) BMO Global Asset Management (BMO GAM) to aid <a href="https://www.benzinga.com/pressreleases/24/03/n37887041/bmo-and-carlyle-partner-to-launch-a-private-equity-strategy-for-canada" target="_blank" rel="noreferrer noopener">private equity strategy for Canada</a>.
This is BMO Global&#8217;s third partnership to widen access to private markets for Canadian accredited investors.
The new strategy will offer access to a global diversified private equity portfolio through a single fund, which is expected to be available this spring.
Shane Clifford, Head of Carlyle Wealth Strategy, said, &#8220;The solution, which is through our AlpInvest platform, will offer accredited investors in Canada direct access to a global portfolio of secondary, co-investment, and primary opportunities providing investors with diversified exposure to the private markets.&#8221;
Jeffrey Shell, Head of Alternatives, BMO GAM, said, &#8220;Together with Carlyle, we are focused on product design that puts the experience of Canadian accredited investors front and centre; this includes allowing monthly subscriptions at relatively low investment minimums and eliminating the need for capital calls, which are a standard feature of funds that are created for institutional investors.&#8221;&nbsp;
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/03/37827564/navigating-new-waters-thyssenkrupp-reveals-marine-systems-sale-talks-with-carlyle" rel="noreferrer noopener">Navigating New Waters: Thyssenkrupp Reveals Marine Systems Sale Talks With Carlyle</a>
Investors can gain exposure to Carlyle via&nbsp;Invesco Global Listed Private Equity ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSP#NYSE">PSP</a>) and&nbsp;EA Series Trust WHITEWOLF Publicly Listed Private Equity ETF&nbsp;(BATS:<a class="ticker" href="https://www.benzinga.com/stock/LBO#BATS">LBO</a>).
Price Action: CG shares are down 0.58% at $47.12 on the last check Friday.
Photo via Shutterstock

Barclays analyst Brian Morton initiates coverage on Bank of Montreal (TSX:<a class="ticker" href="https://www.benzinga.com/stock/BMO#TSX">BMO</a>) with a Overweight rating and announces Price Target of C$140.

Initiation

Barclays Initiates Coverage On Bank of Montreal with Overweight Rating, Announces Price Target of C$140

RBC Capital analyst Darko Mihelic maintains Bank of Montreal (TSX:<a class="ticker" href="https://www.benzinga.com/stock/BMO#TSX">BMO</a>) with a Outperform and lowers the price target from C$134 to C$130.

RBC Capital Maintains Outperform on Bank of Montreal, Lowers Price Target to C$130

Bank Of Montreal shares are trading lower after the company reported worse-than-expected Q1 results.

Bank of Montreal (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMO#NYSE">BMO</a>) reported quarterly earnings of $1.88 per share which missed the analyst consensus estimate of $2.25 by 16.44 percent. This is a 21.57 percent decrease over earnings of $2.40 per share from the same period last year. The company reported quarterly sales of $5.64 billion which missed the analyst consensus estimate of $6.18 billion by 8.79 percent. This is a 17.02 percent increase over sales of $4.82 billion the same period last year.

Bank of Montreal Q1 Adj EPS $1.88 Misses $2.25 Estimate, Sales $5.64B Miss $6.18B Estimate

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Earnings Scheduled For February 27, 2024

Bank of Montreal (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMO#NYSE">BMO</a>) is set to give its latest quarterly earnings report on Tuesday, 2024-02-27. Here's what investors need to know before the announcement.
Analysts estimate that Bank of Montreal will report an earnings per share (EPS) of $2.25. 
Bank of Montreal bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Past Earnings Performance</h3>
Last quarter the company missed EPS by $0.00, which was followed by a 0.0% drop in the share price the next day.
Here's a look at Bank of Montreal's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>2.100</td>
<td>2.29</td>
<td>2.37</td>
<td>2.330</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>2.095</td>
<td>2.07</td>
<td>2.17</td>
<td>2.397</td>
</tr>
<tr>
<td>Price Change %</td>
<td>2.0%</td>
<td>1.0%</td>
<td>-0.0%</td>
<td>1.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1708959715_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of Bank of Montreal were trading at $94.92 as of February 23. Over the last 52-week period, shares are up 0.15%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release. 
<a href="https://www.benzinga.com/quote/BMO/earnings">To track all earnings releases for Bank of Montreal visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings Outlook For Bank of Montreal

Deep-pocketed investors have adopted a bearish approach towards Bank of Montreal (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMO#NYSE">BMO</a>), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in BMO usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 8 extraordinary options activities for Bank of Montreal. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 12% leaning bullish and 87% bearish. Among these notable options, 6 are puts, totaling $407,000, and 2 are calls, amounting to $188,910.
<h3>Predicted Price Range</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $90.0 to $100.0 for Bank of Montreal over the last 3 months. 
<h3>Volume &amp; Open Interest Development</h3>
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Bank of Montreal's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Bank of Montreal's whale activity within a strike price range from $90.0 to $100.0 in the last 30 days. 
<h3>Bank of Montreal Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1708621271_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th style="text-align: right;">Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>BMO</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>04/19/24</td>
<td>$100.00</td>
<td>$132.0K</td>
<td style="text-align: right;">7</td>
<td style="text-align: right;">640</td>
</tr>
<tr>
<td>BMO</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$90.00</td>
<td>$104.0K</td>
<td style="text-align: right;">433</td>
<td style="text-align: right;">100</td>
</tr>
<tr>
<td>BMO</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>04/19/24</td>
<td>$100.00</td>
<td>$84.9K</td>
<td style="text-align: right;">6</td>
<td style="text-align: right;">724</td>
</tr>
<tr>
<td>BMO</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>04/19/24</td>
<td>$100.00</td>
<td>$55.0K</td>
<td style="text-align: right;">7</td>
<td style="text-align: right;">840</td>
</tr>
<tr>
<td>BMO</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>04/19/24</td>
<td>$100.00</td>
<td>$55.0K</td>
<td style="text-align: right;">7</td>
<td style="text-align: right;">740</td>
</tr>
</tbody>
</table>

<h3>About Bank of Montreal</h3>
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&amp;C banking, wealth management, and capital markets. The bank's operations are primarily in Canada, with a material portion also in the U.S.
Having examined the options trading patterns of Bank of Montreal, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>Bank of Montreal's Current Market Status</h3>
<ul>
<li>Trading volume stands at 175,222, with BMO's price up by 0.73%, positioned at $94.99.</li>
<li>RSI indicators show the stock to be is currently neutral between overbought and oversold.</li>
<li>Earnings announcement expected in 5 days.</li>
</ul>
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Bank of Montreal with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

Options

Bank of Montreal's Options Frenzy: What You Need to Know


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