News Formal

What are experts saying about earnings from BMO and Scotiabank?

  • 📰 BNNBloomberg
  • ⏱ Reading Time:
  • 32 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 50%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

The Bank of Montreal and the Bank of Nova Scotia have put aside more money in case their customers have trouble paying back their back loans in the months ahead.

Both banks revealed a rise in loan loss provisions in third-quarter earnings released on Tuesday and analysts are cautious of further credit risks ahead.

He has a 12-month price target of $64 on shares of Scotiabank and neutral rating on the stock, which is equivalent to a hold. Scotiabank’s shares were trading at $62 as of Tuesday morning. BMO’s earnings per share of $3.12 after adjusting for severance and legal provisions was below consensus of $3.14, but above our estimate at $3.08,” Holden wrote in a note to clients.

There are opportunities to cut front line staff as transactions turn digital, and a possibility to cut on the commercial corporate side, according to Mark McQueen, former president and chief executive officer at Wellington Financial LP.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 83. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bank earnings: Analyst picks top bank for the quarterWith Canada’s big six banks in the midst of reporting their latest quarterly results, one analyst suggests the top bank has already reported.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Bank earnings: Money manager picks top bank for the quarterWith Canada’s big six banks in the midst of reporting their latest quarterly results, one analyst suggests the top bank has already reported.
Source: BNNBloomberg - 🏆 83. / 50 Read more »