Staff
BMO is on track to be Canada’s top bank stock for 2013, according to a Bloomberg report.
It notes “the bank’s 16% advance this year is leading Canada’s seven other large lenders, and its stock remains among the cheapest….[BMO] is also beating the 10% return of the eight-company Standard & Poor’s/TSX Commercial Banks Index. The bank hasn’t topped the group since 2002, when it gained 16%.”
The report suggests BMO’s expansion in the U.S. over the last 10 years has played a key role in its stock’s outperformance.
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