Bank of Montreal's U.S. Growth Slows in 2Q, but Long-Term Picture Unchanged
Narrow-moat-rated Bank of Montreal’s fiscal second-quarter results were in line with our expectations, and we are maintaining our fair value estimates of $74 and CAD 97. While growth is slowing in the U.S. operations, we did not expect double-digit loan growth to continue indefinitely. Returns on equity remain well above the cost of capital of 9%, with an adjusted return on equity of 14.2% year to date.Net income was down compared with the first quarter, largely due to the return of more norma...
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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