Analyst Consensus ?
ConsensusHold18 ratings
Bullish844.5%
Neutral844.4%
Bearish211.1%
Bank of Montreal · BMO · FY2024 Q4 · Calendar Q4 2024
BMO balances record pre-provision earnings with elevated credit losses
The supplied analysis supports a mixed but constructive operating picture: strong pre-provision earnings, deposits, digital engagement, and U.S. growth initiatives provide support, while elevated credit losses and execution around integration and ROE recovery are the main counterweights. The evidence does not establish a one-year investment outcome.
Reported Before market openNYSEFinancial Services
$117.55B market cap
80quality score
Earnings scorecard
Reported versus consensus
Reported EPS
—
Consensus $1.75
EPS surprise
—
Reported versus consensus
Reported revenue
—
Consensus $6.05B
Revenue surprise
—
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+4.5%
Event window
SPY move
-0.2%
Same window
Abnormal move
+4.7%
Stock minus SPY
Volume
3.1×
Versus trailing sessions
Subsequent drift
-3.4%
Up to 20 sessions
BMOSPY benchmark
Ask FN2 about BMO FY2024 Q4
Transcript, numbers and history already loaded
What drove BMO's +4.5% move after FY2024 Q4 earnings?What changed in BMO's guidance and outlook in FY2024 Q4?Give me the bull and bear case for BMO after FY2024 Q4 earnings.
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Transcript intelligence
What changed
Relative to the prior quarter, the analysis places greater emphasis on the full-year impact of elevated credit losses, the announced dividend increase and share-repurchase programme, and a more explicit U.S.-led path toward the medium-term ROE objective. The operating-growth and digital themes remained in place.
Guidance delta
Maintained; management expects credit provisions to moderate in 2025 while continuing to target a medium-term ROE recovery.
Key takeaways
- Operating momentum remained strong, led by record pre-provision earnings, deposit growth, and cost discipline.
- Elevated credit losses weighed on net income and remain the key near-term uncertainty.
- U.S. growth, capital optimisation, and cost synergies are central to the medium-term ROE plan.
- Digital initiatives, including One Client and an AI-powered underwriting assistant, support acquisition and cross-selling.
- Management highlighted continued dividend growth and share repurchases alongside a strong capital position.
Management priorities
- Rebuild ROE to 15% over the medium term
- Accelerate U.S. segment performance and optimise capital allocation
- Continue dividend growth and the share-repurchase programme
- Expand AI and digital capabilities across banking lines
- Use One Client to deepen client relationships
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$169.11Current
$50Low
$174.38Average
$580High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 25, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| RBC Capital | Sector Perform | Sector Perform | Maintain | May 28, 2026 |
| Scotiabank | Sector Perform | Sector Outperform | Downgrade | Aug 28, 2024 |
| Barclays | Overweight | Overweight | Maintain | Aug 28, 2024 |
| B of A Securities | Neutral | Buy | Downgrade | Aug 28, 2024 |
| Keefe, Bruyette & Woods | Market Perform | Outperform | Downgrade | Jun 3, 2024 |
| Credit Suisse | Outperform | Neutral | Upgrade | Feb 24, 2021 |
| Canaccord Genuity | Buy | Buy | Maintain | Feb 24, 2021 |
| Bank of America | Underperform | Neutral | Downgrade | Jan 28, 2019 |
| Macquarie | Outperform | Neutral | Upgrade | Feb 15, 2018 |
| Citigroup | Buy | Neutral | Upgrade | May 18, 2017 |
| Dundee | Neutral | Neutral | Maintain | Sep 21, 2016 |
| Rafferty Capital | Buy | Hold | Upgrade | Jun 9, 2016 |
| Rafferty | Buy | Hold | Upgrade | Jun 9, 2016 |
| TD Securities | Hold | Buy | Downgrade | May 26, 2016 |
| BMO Capital | Market Perform | Market Perform | Maintain | Aug 28, 2013 |
| Morgan Stanley | Underweight | Equal Weight | Downgrade | May 14, 2013 |
| Desjardins | Buy | Hold | Upgrade | Aug 29, 2012 |
| Stifel Nicolaus | Hold | Hold | Maintain | Aug 28, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $169.11. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| BMO Capital | Andrew Bauch | $101 | $170.45 | -40.3% | Oct 22, 2026 |
| RBC Capital | Analyst unavailable | $580 | $166.02 | +243.0% | Oct 20, 2026 |
| BMO Capital | Joel Jackson | $85 | $166.3 | -49.7% | Oct 2, 2026 |
| BMO Capital | Daniel Jester | $90 | $172.72 | -46.8% | Sep 9, 2026 |
| Capital One Financial | Analyst unavailable | $80 | $175.05 | -52.7% | Sep 8, 2026 |
| Morgan Stanley | Analyst unavailable | $580 | $172.87 | +243.0% | Aug 26, 2026 |
| BMO Capital | Michael Zaremski | $203 | $172.35 | +20.0% | Aug 25, 2026 |
| RBC Capital | Analyst unavailable | $74 | $173.51 | -56.2% | Aug 24, 2026 |
| BMO Capital | Daniel Jester | $103 | $173.49 | -39.1% | Aug 24, 2026 |
| BMO Capital | Fadi Chamoun | $140 | $163.13 | -17.2% | May 28, 2026 |
| BMO Capital | Daniel Jester | $92 | $138.11 | -45.6% | Mar 13, 2026 |
| BMO Capital | Brennan Hawken | $78 | $139.17 | -53.9% | Feb 5, 2026 |
| BMO Capital | Daniel Jester | $125 | $126.69 | -26.1% | Dec 5, 2025 |
| BMO Capital | John McNulty | $50 | $124.18 | -70.4% | Nov 3, 2025 |
| BMO Capital | John McNulty | $380 | $126.64 | +124.7% | Oct 28, 2025 |
| BMO Capital | Bhavesh Lodaya | $109 | $127.27 | -35.5% | Oct 28, 2025 |
| BMO Capital | John McNulty | $70 | $125.8 | -58.6% | Oct 21, 2025 |
| Loop Capital Markets | Analyst unavailable | $50 | $96.91 | -70.4% | Mar 12, 2025 |
| Bank of America Securities | Ebrahim Poonawala | $120.95 | $102 | -28.5% | Aug 25, 2021 |
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Start freeCompany context
Snapshot as of publicationBank of Montreal engages in the provision of diversified financial services primarily in North America. The company operates through Canadian P&C, U.S P&C, BMO Wealth Management, and BMO Capital Markets segments. It’s personal banking products and services include deposits, home lending, consumer credit, small business lending, credit cards, cash management, financial and investment advice, and other banking services; and commercial banking products and services comprise various of financing options and treasury and payment solutions, as well as risk management products. It also offers investing, banking, and wealth management advisory; digital investing services; financial solutions for individuals, families, and businesses; offers investment management services to institutional, retail, and high net worth investors; and diversified insurance, and wealth and pension de-risking solutions.…
Historical context
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Missed on EPS
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Get the BMO recap when the next report posts
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2024-11-21T00:04:18.285229+00:00
- Polygon adjusted daily market bars · 2026-10-25T22:00:44.414992+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-25T22:00:44.411977+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-25. For educational purposes only; not investment advice.