LONDON, UK / ACCESSWIRE / September 19, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Bank of Montreal (NYSE: BMO), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=BMO, following the Company's posting of its financial results on August 29, 2017, for the third quarter of the fiscal year 2017 (Q3 FY17). The Toronto, Ontario-based bank's quarterly adjusted net income and adjusted earnings per share (EPS) rose 6% and 4% y-o-y, respectively. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

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Earnings Reviewed

During the quarter ended July 31, 2017, Bank of Montreal's total revenues came in at C$5.46 billion, up from C$5.63 billion in the year-ago comparable quarter. The Company's revenues, net of commissions and changes in policy benefit liabilities (CCPB), grew to C$5.21 billion in Q3 FY17 from C$4.94 billion in Q3 FY16.

The Canadian bank reported net income of C$1.39 billion, or C$2.05 per diluted share, in Q3 FY17, which came in above the C$1.25 billion, or the C$1.86 per diluted share, reported in Q3 FY16. Adjusted net income for the reported quarter was C$1.37 billion, or C$2.03 per diluted share, versus C$1.30 billion, or C$1.94 per diluted share, in the year-ago corresponding period.

Performance Metrics

In Q3 FY17, Bank of Montreal's adjusted return on average assets came in at 0.75% compared to 0.73% in the previous year's same period. The Company's adjusted return on common equity was also up to 13.3% in Q3 FY17 from the 13.5% reported in the year-ago comparable quarter. Furthermore, the bank's adjusted efficiency ratio, net of CCPB, was 61.9% in Q3 FY17 compared to 61.2% in Q3 FY16. The bank's adjusted net interest margin on average earnings assets stood at 1.61% for the reported quarter, compared to 1.68% in Q3 FY16.

As on July 31, 2017, the bank's common equity tier-1 ratio was 11.2% compared to 10.0% as on July 31, 2016. Additionally, tier-1 capital ratio and total capital ratio stood at 12.9% and 15.2%, respectively, at the end of the third quarter of FY17.

Segment Performance

For the reported period, Canadian P&C segment's total revenues grew to C$1.86 billion from C$1.77 billion in Q3 FY16. The segment's adjusted net income also increased to C$615 million in Q3 FY17 from C$561 million in the last year's corresponding quarter.

US P&C segment's total revenues stood at C$1.19 million in Q3 FY17 compared to C$1.17 million in Q3 FY16. During the quarter, the segment recorded net income of C$278 million which came in flat with the net income recorded in Q3 FY16. The segment's adjusted net income came in at C$289 million for Q3 FY17, versus C$290 million in Q3 FY16.

In Q3 FY17, BMO Wealth Management segment's revenue was C$1.44 billion compared to C$1.77 billion in Q3 FY16. In the reported quarter, net income was C$264 million, up from C$201 million in Q3 FY16. Moreover, adjusted net income also increased to C$279 million during Q3 FY17 from C$227 million in Q3 FY16.

BMO Capital Markets segment reported total revenue of C$1.07 billion in Q3 FY17 compared to C$1.08 billion in Q3 FY16. The segment's net income increased to C$292 million in Q3 FY17 from C$317 million in Q3 FY16. Furthermore, adjusted net income stood at C$293 million for Q3 FY17 compared to C$318 million in Q3 FY16.

Dividend

In a separate press release on August 29, 2017, Bank of Montreal's Board of Directors declared a quarterly dividend of C$0.90 per share. The dividend on the common shares is payable on November 28, 2017, to shareholders of record as on November 01, 2017.

Stock Performance

On Monday, September 18, 2017, the stock closed the trading session at $74.69, slightly down 0.69% from its previous closing price of $75.21. A total volume of 341.58 thousand shares have exchanged hands. Bank of Montreal's stock price rallied 3.22% in the last one month, 5.30% in the past three months, and 15.80% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have gained 3.85%. The stock is trading at a PE ratio of 11.17 and has a dividend yield of 3.87%. The stock currently has a market cap of $48.67 billion.

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SOURCE: Pro-Trader Daily