BANK OF MONTREAL $84 (Toronto symbol BMO; Conservative Growth and Income Portfolios, Finance sector; Shares outstanding: 643.6 million; Market cap: $54.1 billion; Price-to-sales ratio: 2.8; Dividend yield: 4.1%; TSINetwork Rating: Above Average; www.bmo.com) is paying an undisclosed sum for Minneapolis-based Greene Holcomb Fisher. The firm advises small businesses in merger and acquisition deals. Since 2011, it has helped complete over 100 transactions.
This purchase will have little impact on the bank’s overall earnings. However, the firm is growing fast. It’s also a good fit with Bank of Montreal’s business banking operations in the the U.S. Midwest.
Bank of Montreal is a buy.