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Bank of Montreal T.BMO.P.W


Primary Symbol: T.BMO Alternate Symbol(s):  NRGU | N.ZEBA | T.BMO.P.Y | FNGD | FNGO | BMO | FNGU | N.BGDV | CARD | N.ZUEA | T.BMO.P.E | T.BMO.P.T | N.ZOCT | CARU

Financial Services
Bank of Montreal (BMO) is a Canada-based company, which offers a wide range of personal banking services. The Company is engaged in providing a broad range of personal and commercial banking, wealth management, global markets and investment banking products and services to customers across Canada, the United States, and in select markets globally. The Company offers services, such as bank accounts, credit cards, mortgages, loans, investments, creditor insurance, and travel insurance. The Company’s segments include P&C, U.S. P&C, Total P&C, BMO Wealth Management, BMO Capital Markets, and Corporate Services. Its bank accounts include checking accounts, and savings accounts. Its credit card services include no fee, low interest, cash back, BMO Rewards, AIR MILES, travel, and lifestyle. Its credit cards include BMO eclipse Visa Infinite Card, BMO Ascend World Elite Mastercard, BMO eclipse Visa Infinite Privilege Card, BMO Preferred Rate Mastercard and BMO CashBack Mastercard.


TSX:BMO - Post by User

Bank of Montreal
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Post by JasleenDhakaon Dec 12, 2022 2:51pm
221 Views
Post# 35166741

Rate Hike Pause Should Benefit the Big Five!

Rate Hike Pause Should Benefit the Big Five! About our analyst: Siddharth Rajeev, B.Tech
 
 (Electronics Engineering), MBA (Finance), CFA

Update on Canadian Banks:

• FY2022 (ended October 2022) EPS of the Big Five beat our estimates by 9% on average, due to stronger-than-expected lending, and lower-than-expected loan loss provisions. Except for CIBC, all of the Big Five reported earnings growth in FY2022.

• Lending surged 17% in FY2022 vs 6% in FY2021. Due to higher rates, and a slowing economy, we are expecting loan growth to decline in FY2023. The IMF recently lowered its 2023 GDP growth forecast for Canada from 1.8% to 1.5%.

• On November 29, 2022, RBC announced plans to acquire HSBC Bank Canada (LSE: HSBA) for $13.5B, implying 2.4x P/B and 18.7x P/E. These multiples reflect a 103% premium to the current sector averages, and a 49% premium to pre-pandemic levels, indicating that RBC is expecting significant synergies from the deal.

Keep reading more in the full report available here: https://www.researchfrc.com/canadian-banks-tsx-ry-td-bns-bmo-cm-rate-hike-pause-should-benefit-the-big-five/?utm_source=stockhouse.com&utm_medium=Referral&utm_campaign=stockhouse.com&utm_id=Canadian+Banks

*FRC provides issuer-paid coverage.
*Past performance is not indicative of future results.
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