BANK OF MONTREAL $62 (Toronto symbol BMO; Conservative Growth Portfolio, Finance sector; Shares outstanding: 650.8 million; Market cap: $40.3 billion; Price-to-sales ratio: 1.9; Dividend yield: 4.6%; TSI Network Rating: Above Average;www.bmo.com) earned $4.1 billion in fiscal 2012.That’s up 24.9% from $3.3 billion in 2011.Earnings per share rose 17.6%, to $6.00 from $5.10,on more shares outstanding. These figures exclude integration costs related to U.S. bank Marshall & Ilsley, which Bank of Montreal bought for $4.1billion in stock in July 2011. Revenue rose 15.7%,to $16.1 billion from $13.9 billion.
Earnings at the Canadian banking business (46%of Bank of Montreal’s total earnings) increased0.7%. Low interest rates continue to attract borrowers, but they also hurt the income that the bank of earns on its loans. Marshall & Ilsley pushed up earnings at the bank’s U.S. operations (15% of the total) by 50.1%. Acquisitions also raised revenue at the wealth management division (14%) by 12.3%.
Fewer of the bank’s corporate clients are merging and issuing new stock. Even so, lower income taxes and loan losses pushed up earnings at the securities tradingdivision (25% of the total) by 5.1%.
The bank will probably earn $6.08 a share in2013. The stock trades at 10.2 times that forecast. The $2.88 dividend yields 4.6%.
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Privacy Policy and Terms of Use
The Successful Investor Inc. and its affiliate Successful Investor Wealth Management (referred to hereafter as TSI Network) know that you care how information about you is used and shared, and we appreciate your trust that we will do so carefully and sensibly. This notice describes our privacy policy. By visiting websites owned by or associated with TSI Network, you are accepting the practices described in this Privacy Policy.
This privacy policy is applicable to all TSI Network Visitors, Clients, Employees, Suppliers, Web sites, Management, and all other interested parties. Any links to or from our site are not covered by this policy. We encourage you to read the privacy policies of every site that you visit.
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We do not collect or disclose personal information, except when it is provided to us voluntarily by the site/store visitor with their consent.
We store subscriber and password files containing personal information securely. These files are stored in secure areas that are not accessible to the general public. We are always working to ensure the security of your personal information.
We are continuously in the process of improving our sites and services. If any new features or policies require a change to this current policy, we will post a clear notice of this change on pages of our site where the privacy policy appears. The principle behind this privacy policy is to collect information with your knowledge and consent.
What personal information do we collect?
The information we receive from customers helps us personalize and continually improve your online experience at TSI Network. TSI Network may collect personal information online for all legal purposes, which include, but are not limited to:
Information You Give Us: We receive and store any information you enter on our website or give us in any other way through sign-up forms or ordering forms for publications and services. You can choose not to provide certain information, but then you might not be able to take advantage of many of our services and features. We use the information that you provide for such purposes as responding to your requests, customizing your web browsing experience for you, improving our website, and communicating with you.
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We do reserve the right, however, to collect and perform statistical analyses of the internet traffic to our website for our internal use. However, information collected does not allow us to identify any individual, and will not collect any personal information of the visitor. Furthermore, we do not sell, rent or loan to any outside parties the information collected and analyzed.
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Does TSI Network Use the Information It Receives?
"Contact Us" and Comment Features: TSI Network encourages visitors to its websites to contact us with questions and comments. Email addresses and other information of persons using these features may be collected in order to facilitate our responses to those inquiries.
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Changes to this Policy
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TSI Network may revise this Policy from time to time.
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