Bank of Montreal (BMO) News Today

Bank of Montreal (NYSE:BMO) shares are moving on a blend of dividend increases, quarterly results and strategic actions announced over the past two days.

• Declared a 6.4% rise in its U.S. dollar quarterly dividend to $1.18 per share (4.41% yield), reinforcing shareholder returns.
• Set a new 12-month high, reflecting bullish investor sentiment after recent announcements.
• Reported record‐level adjusted earnings in its Q2 shareholder report: net income up to C$1,962 million (from C$1,866 million) and adjusted EPS rising to C$2.62.
• Short interest plunged 52.3% in May, suggesting fewer bearish bets and improved market confidence.
• Sold non-core, lagging business units to focus on higher-return U.S. operations, a move aimed at long-term efficiency.
• Delivered earnings coverage and other April metrics above prior levels, per its latest company bulletin.
• Released Q2 earnings call transcripts confirming EPS broadly aligned with forecasts, offering transparency on performance drivers.
• Marginally missed consensus on U.S. dollar EPS in Q2 (US$1.84 vs. US$1.89 expected), sparking some profit‐taking.
• Recorded lower-than-anticipated revenue of US$6.32 billion against analyst estimates near US$8.8 billion, highlighting interest-income headwinds.
• Provisions for credit losses jumped year-over-year (C$1,054 million vs. C$705 million), raising asset‐quality concerns.
• Bank of America Securities reiterated a Hold rating, warning of modest growth ahead and broad macroeconomic risks.