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Summary
- BMO announced quarterly cash dividend of C$ 1.06 per common share.
- The stocks have swelled by nearly 18 per cent in the last three months.
- Scotiabank declared a quarterly cash dividend of C$ 0.90 per common share for the quarter.
- Scotiabank stocks are up over 16 per cent in the last three month
Bank of Montreal (TSX:BMO) and Bank of Nova Scotia’s (TSX:BNS) are the first two among the big six Canadian banks that released their financial results. BMO Financial Group’s net income climbed 33 per cent year-over-year in the fourth quarter of the fiscal year 2020 to C$ 1.58 billion. Scotiabank’s net income declined year-over-year in the fourth quarter of the fiscal year 2020. The bank posted a net income of C$ 6.85 billion in FY20 against nearly C$ 8.8 million in FY19.
Let us take a quick look at fiscal performances of both these top Canadian lenders:
Bank of Montreal (TSX:BMO)
Current Stock Price: C$ 96.52
The banking giant recorded earnings per share (EPS) of C$ 2.37 in the fourth quarter of fiscal 2020, an increase of 33 per cent versus C$ 1.78 EPS in Q4 FY19.
The lender delivered a positive return on equity of 12.4 per cent in the quarter, compared to 9.9 per cent in Q4 FY19. BMO also announced a quarterly cash dividend of C$ 1.06 per common share.
BMO Stock Performance:
The bank stocks have rebounded nearly 72 per cent since the pandemic-led market collapse on March 24. In the last six months, BMO stocks have swelled by over 30 per cent. However, the blue-chip stock is down 4 per cent year-to-date (YTD).
BMO stock’s price-to-earnings (P/E) ratio is 13.20. The profit-to-book (P/B ratio) is 1.26, and its current earnings per share (EPS) is C$7.60, according to the data available on the TMX portal.
The lender made it to TMX Money’s top financial and price performer stocks with the largest price gains in the last 30 days across the TSX and the TSXV.
Bank of Nova Scotia’s (TSX:BNS)
Current Stock Price: C$ 65
Scotiabank recorded a net income of nearly C$ 1.9 billion in Q4 FY20, against C$ 2.3 billion in Q4 FY19. The lender delivered a good return-on-equity (ROE) of 10.4 per cent in FY20, but ROE decreased against 13.1 per cent in FY19.
The bank declared a quarterly cash dividend of C$ 0.90 per common share. It’s current dividend yield is 5.53 per cent.
Scotiabank Stock Performance
The blue-chip stocks are up over 16 per cent in the last three months. The stock has added nearly 39 per cent since the pandemic-led market meltdown on March 24. However, the lender stocks have declined by nearly 11.39 per cent YTD.
The banking stock’s past 10-day average trading volume stands at 3.1 million. Its price-to-earnings (P/E) ratio is 11. The bank stocks offer a positive return on equity (RoE) at 10.94 per cent, and its debt to equity ratio is 0.12, as per the TMX website.
