Bank of Montreal (BMO-T)

He's very, very underweight the Canadian banking industry. Much prefers US banks in this environment. Canadian economy is going to underperform for a while, as we just don't have the oomph and the growth capacity that the US does. Plus, we have more of a housing issue. 

Banks had a 40-year run as interest rates fell. They sold credit, and credit's going to get touch as interest rates rise. So, being a seller of credit isn't quite as good as it used to be. With interest rates in Canada coming down, the spread opportunities just aren't what they were.

Owns shares in the company. Strong company with excellent prospects. M&A turning out very well (Canadian Western Bank). Recent disappointing earrings not a concern. Characteristically cautious on loss provisions may turn out to be too conservative. Overall, is a strong business that will continue to own. All business segments in the business very strong. 

Picking away at this name. Missed 2 quarters, increased loan loss provisions, and he expects this to continue for a couple more quarters. Short-term risk is that capital markets aren't as big in Canada as in the US. Concerns about Bank of the West acquisition timing, regional bank issues. 

Those concerns are priced in. Coming through that, valuation now more attractive, good dividend while you wait. Getting to the point where earnings should turn up in the next year or so.

Stable dividend of 5%. Increased loan loss provisions, squeezed with where interest rates are. Opportunity in Canadian banks, but she favours RY. More revenue coming for all banks in Q4 and 2025 with mortgage renewals. Ranks 8/10 on fundamentals.

Lagged. Had to increase credit provisions more than was expected. Not her top pick in the sector (see RY and TD), but owns it in some client portfolios for income. In US, economy slowing and competition for deposits is intense. Longer term, solid income name; near term, choose elsewhere.

Better names in the banking sector. Chart not indicating strength. Would wait for chart to turn around before buying. Canadian banks have strong business, but would wait for this chart to turn around. 

A great entry point would be $103, not now. It's trading at the low end of its long-term trend. he wouldn't sell it now and it's not his first bank choice. That said, it's falling to levels that are looking attractive. It will eventually reach $175. Has good upside and pays a nice yield.

In a downtrend. The last significant low is around $105. As long as that doesn't break, it will probably trade sideways. Good, quality company. But if the market wants to favour banks, it will; if it wants to favour NVDA, it will and it is.

If you want banks now is a good time to buy BMO after its recent drop. It has consolidated at $118 and pays a good dividend which it will probably raise. Sell if it goes below $110.

Owns shares and will continue to hold. Strong brand name with oligopoly (6 banks in Canada). Very steady profits and solid customer base. Not overly exposed to rising interest rates. Recent M&A continues to go well. Share price weakness a good time to buy. Dividend very safe, and expected to rise. Also a moderate rate of capital gains. Would recommend buying. 

"Higher for longer" interest rates hard on business. Not expecting growth from Canadian banking sector. Would recommend buying at cheap price. Expecting company to turnaround eventually. Strong assets and brand name for the long term investor. 

She holds, but not as core holding. Had to increase loan loss provisions in US last quarter, and 2 consecutive quarters of that was not well received. Loan growth is slowing along with economy. Acquisition will work out long term. Doesn't see Canadian economy going into recession, so rate cuts should help. Yield is 5%.

His favourite. He's overweight BMO versus the other banks. Likes expansion in the US, well positioned for growth. Results a bit disappointing on integration side, but confident in management to realize synergies. Stock's come down way too much, good time to start picking away.

It is the only big bank she doesn't own. Canadian banks recently announced disappointing returns, especially BMO. It trades at a premium valuation to its peers, so there are premium expectations. Also its assets in the Mid-West are giving weak returns as well. She likes Royal and TD.