|Bid||0.00 x 1000|
|Ask||0.00 x 800|
|Day's range||74.19 - 75.43|
|52-week range||38.31 - 79.93|
|Beta (5Y monthly)||1.05|
|PE ratio (TTM)||12.26|
|Forward dividend & yield||3.26 (4.36%)|
|Ex-dividend date||30 Oct 2020|
|1y target est||85.95|
Dividends are one of the best benefits to being a shareholder, but finding a great dividend stock is no easy task. Does Bank of Montreal (BMO) have what it takes? Let's find out.
(Bloomberg) -- Oil extended losses after an industry report showed a surprise build in U.S. crude inventories, adding to concerns over a split within OPEC.Futures fell toward $44 a barrel in New York after the American Petroleum Institute was said to report a 4.15 million-barrel increase in domestic crude stocks last week, while most market observers expect a decline. The report also showed increases in both gasoline and diesel inventories ahead of U.S. government figures on Wednesday.Oil traded lower much of the day as informal OPEC talks continue by phone after a meeting with allies of the cartel was shifted to Thursday, to allow for more time to reach a deal on production policy. Friction between Saudi Arabia and the United Arab Emirates prevented what was widely expected to be a routine agreement to extend output curbs expiring this month.“Last time Saudi Arabia got into a disagreement with the other OPEC members, they had reversed course,” said Phil Streible, chief market strategist at Blue Line Futures LLC in Chicago. “With oil prices running up for weeks now, it might be a short-term top in the market.”With cracks appearing in the OPEC+ alliance, Saudi Energy Minister Prince Abdulaziz bin Salman signaled his dissatisfaction by threatening to resign as co-chair of a committee that oversees the output deal. The eroding unity among the group comes at a time when the market may struggle to absorb more barrels, with demand still weak due to the pandemic.Still, the downside has been limited as portions of the oil futures curve continue to strengthen. The spread between Brent’s nearest contracts returned to backwardation, signaling anticipation for tighter supply and stronger demand.“People figure this is the same old story,” said Michael Lynch, president of Strategic Energy & Economic Research. “They’ll argue but they’ll finally come to an agreement, because no one wants the price to collapse.”OPEC+ is likely to agree on a face-saving compromise, with a short extension the probable outcome followed by a phased return of production, RBC Capital Markets analyst Helima Croft wrote in a report. If an agreement isn’t reached and cuts are eased as scheduled, Brent prices are at risk of dropping back toward $40 and the market could face an oversupply of as much as 2 million barrels a day next quarter, Wood Mackenzie Ltd. said.See also: OPEC+ Needs to Keep Covid-19 Mask On a Bit Longer: Liam DenningIn some parts of the world, demand appears to be stabilizing. Around 20 tankers carrying U.S. crude will be heading to Asia this month. Plus, factory activity in some of North Asia’s biggest export-led economies rebounded in November.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
(Bloomberg) -- Trading and investment banking are showing strength at Bank of Nova Scotia and Bank of Montreal, propping up profits as the lenders’ retail franchises continue on the long road to recovery from the Covid-19 crisis.Earnings surged 40% at Bank of Montreal’s capital-markets business while gaining 14% in Scotiabank’s global banking and markets division in the fiscal fourth quarter. Those increases helped both companies’ overall results top analysts’ estimates, taking pressure off personal and commercial banking units that are on the mend from the worst of the pandemic.“When one of our business lines encountered difficult business conditions, another was there to offset that weakness,” Scotiabank Chief Executive Officer Brian Porter said Tuesday on a call with analysts and investors.The results from Canada’s third- and fourth-largest lenders by assets mark a strong start to a week of earnings from the country’s top six banks. Both Scotiabank and Bank of Montreal also reported significantly lower provisions for credit losses, signaling that fears of the recession turning into a full-blown financial crisis are subsiding.Scotiabank shares rose 2.5% to C$64.90 at 12:23 p.m. in Toronto. Bank of Montreal gained 3.2% to C$96.33.“Credit is probably in the rear-view mirror starting this quarter,” Scotiabank Chief Financial Officer Raj Viswanathan said in an interview. His bank’s international business is centered on Pacific Alliance countries including Mexico, Peru and Chile, where results have been hurt by Covid-19. “Even if you have second waves in the Pacific Alliance, we are appropriately provided for every scenario that we can think of.”Return to NormalViswanathan said he expects earnings from Scotiabank’s Canadian banking business to return to normal in the second quarter, with the international business following in the fourth quarter. The company’s capital-markets business is close to a normal level now, he said.Earnings at the bank’s international business fell 56% from a year earlier to C$333 million ($257 million), but the unit bounced back from a loss in the third quarter. Overall, Scotiabank had earnings of C$1.45 a share, excluding some items, beating the C$1.22 average estimate of analysts.Scotiabank set aside C$1.13 billion for credit losses in the three months through October. That was a 50% increase from a year earlier, but is down from a tripling in such provisions in the previous quarter and a more than doubling in the second quarter.“We’re seeing fairly positive signs from a credit standpoint that the banks are avoiding a worst-case scenario,” James Shanahan, an analyst at Edward Jones, said in an interview.At Bank of Montreal, net income in the Canadian personal and commercial banking division was down from a year earlier, but more than doubled from the third quarter to C$647 million. The bank’s provisions for credit losses totaled C$432 million, up 71% from a year earlier but less than half of the amount set aside in the third quarter.“BMO’s deferred-loan balances were down in every category relative to the prior quarter, a positive on the outlook for the bank’s PCL trajectory going forward,” Credit Suisse Group AG analyst Mike Rizvanovic said in a note to clients Tuesday.Bank of Montreal posted profit of C$2.41 a share, excluding some items, in the fourth quarter, better than analysts’ C$1.91 average estimate. Executives credited the beat in part to the bank’s ability to keep costs under control. Non-interest expenses fell 11% from a year earlier to C$3.55 billion.(Updates with analyst’s comment in 10th paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.