Bank of Montreal Posts Strong 1Q Results; Increasing Our FVE
Narrow-moat-rated Bank of Montreal’s fiscal first-quarter results were ahead of our short-term expectations, and we are increasing our fair value estimates to $74 and CAD 97. Several one-time items affected this quarter's results, but core operations have still improved, causing us to adjust our fair value estimate upward.Adjusted net income was up 30% year over year, and the adjusted return on equity was 15.3% for the quarter. Notably, the adjusted returns do not adjust for several one-time ga...
Bank of Montreal is a financial services organization. Co. provides a range of retail banking, wealth management and investment banking products and services. Co. serves its clients through three operating groups: Personal and Commercial Banking, which provides financial services to personal and commercial customers; Private Client Group, which provides wealth management products and services to individuals and select institutional segments; and BMO Capital Markets, which provides clients financial and capital markets services to corporate, institutional and government clients.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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