BANK OF MONTREAL /CAN/
In the published model solve dated 2026-Q2, anchored at $178.22, BANK OF MONTREAL /CAN/ (BMO) is priced for 15.4% return on equity. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed July 24, 2026 from SEC EDGAR filings.
• The credit cycle turned in BMO's favour: provisions for credit losses fell to C$739 million from C$1,054 million a year earlier, and adjusted earnings rose 40% to C$3.67 a share in the quarter ended April 30, 2026. [Source: BMO Financial Group Q2 2026 results, May 27, 2026] • The shares sit at the very top of their peer group on price to book, and at this level the price needs a return on equity near 15.4%, against about 9.9% on trailing figures. • Two dated items sit ahead: third-quarter re
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619 institutional managers reported holding BMO in 13F filings for the quarter ended 2026-03-31. Together they hold about 46% of the company; the top 10 hold 27%. 63 opened new positions that quarter. Held by Vanguard Group, Geode Capital, FMR (Fidelity), among others. On the short side, 4.2M shares were sold short as of the 2026-06-15 count, about 0.6% of shares outstanding (6.6 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
BMO's share count grew 9.5% over the past five years. It pays a dividend, and has paid one every year in our records (8 and counting), raised 2 years straight. Cash returned over the past three years: $8.52B in dividends.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: July 24, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.