Topic: How To Invest

The Successful Investor Hotline – Friday, January 24, 2020

Article Excerpt

BANK OF MONTREAL, $104.02, Toronto symbol BMO, is a buy. This week, the bank agreed to buy Clearpool Group Inc. Based in New York City, that privately held firm specializes in cloud-based electronic trading software that gives banks and investment dealers more control over the timing and volumes of their trading. Clearpool’s 120 clients execute about 2% of U.S. equity trades. Bank of Montreal has yet to reveal how much it will pay for Clearpool; however, media reports indicate the price is $100 million. To put that in context, the bank earned $1.61 billion, or $2.43 a share, in the three months ended October 31, 2019. BMO recent coverage: February 2020 issue December 2019 issue TORONTO-DOMINION BANK, $74.20, Toronto symbol TD, is also a buy for investors. The bank owns roughly 43% of TD Ameritrade Holding Corp. (Nasdaq symbol AMTD), one of the largest online brokerage firms in the U.S. Ameritrade will contribute $205 million (Canadian) to TD’s earnings for the 2020 first quarter, ending January…