High Loan Growth Persists for Bank of Montreal; Expense Growth Should Subside in Latter Half of Year
Narrow-moat-rated Bank of Montreal reported decent fiscal second-quarter results that generally fit within our long-term thesis, and after some minor adjustments, we are decreasing our fair value estimates to CAD 104 from CAD 105 for Canadian shares and $77 from $79 for U.S. shares. The bank had decent EPS growth of 5% for the quarter, with adjusted earnings increasing to CAD 2.30 per share. BMO reported a 13.9% adjusted return on equity for the quarter, exactly in line with adjusted results fro...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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