BMO Closes Out 2016 With Strong Fourth Quarter; Maintaining Our Fair Value Estimate
Narrow-moat-rated Bank of Montreal’s fiscal fourth-quarter results support our long-term thesis for the bank, and we are maintaining our fair value estimates of $72 and CAD 94.Adjusted net income was up 10% for the quarter and 7% for the full year. After raising the quarterly dividend to CAD 0.88 per common share, the stock yields roughly 3.8%. Adjusted return on equity remained steady at 13.1% for fiscal 2016 compared with 13.3% for 2015. We expect reported returns on equity to remain stable a...
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.
We have operations in 27 countries.
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