Bank of Montreal (BMO) Stock

Simeon Siegel, an analyst from BMO Capital Markets, appears on 'Squawk on the Street' to talk about the possible dangers facing the retail industry.

Evan David Seigerman, a managing director at BMO, appears on 'Fast Money' to talk about Novo's decline following the results of its obesity drug.

Neils Christensen holds a journalism diploma from Lethbridge College and has over ten years of reporting experience with various news organizations across Canada. He has reported on both territorial and federal politics in Nunavut, Canada.

Bank of Montreal's earnings for the fourth quarter were negatively impacted by increased provisions and a decline in net interest income. However, shares rose by 8.5% due to hopes that provisions will decrease in fiscal 2025.

The Bank of Montreal is experiencing solid business growth, but increasing credit loss provisions are putting a strain on profits, resulting in a careful outlook. Their net interest income rose by 10% due to better net interest margins and a rise in loan demand. Even though they have raised dividends and approved a new share buyback, the current share price in the US$90s appears too high to suggest buying.

The Bank of Montreal (NYSE:BMO) will hold its Q4 2024 Earnings Conference Call on December 5, 2024, at 8:30 AM ET. Key company participants include Christine Viau, the Head of Investor Relations, and CEO Darryl White, among others. The call will also feature various analysts from different financial institutions.

On December 5, 2024, the Bank of Montreal (TSX:BMO)(NYSE:BMO) announced plans to buy back up to 20 million of its common shares, pending approval from the Office of the Superintendent of Financial Institutions Canada (OSFI) and the Toronto Stock Exchange (TSX). The shares will be purchased through the TSX and possibly other trading platforms or methods allowed by securities regulations, such as automatic purchase plans and private agreements.

On December 5, 2024, the Bank of Montreal (TSX:BMO) (NYSE:BMO) announced that its Board of Directors has approved a quarterly dividend of $1.59 per share for common shares for the first quarter of fiscal year 2025. This represents a 4 cent increase, or 3 percent, from the previous quarter and a 5 percent rise compared to last year. Additionally, the Board declared dividends of $0.190875 per share for Class B Preferred Shares Series 33 and $0.426 per share for Class B Preferred Shares Series 44.

BMO Financial Group has released its audited financial statements for the fourth quarter of 2024, which can be found online. Compared to the same quarter in 2023, the net income rose to $2,304 million from $1,710 million, while the adjusted net income decreased to $1,542 million from $2,243 million. Additionally, the company declared a quarterly dividend of $1.59 per common share, marking a 5% increase from the previous year.