Bank of Montreal Shares Top Peers on U.S. Bet: Corporate Canada
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Bank of Montreal, Canada’s fourth-biggest lender, is poised to be the country’s top-performing bank stock this year for the first time in more than a decade as a U.S. expansion begins winning over investors.
The bank’s 17 percent advance this year is leading Canada’s seven other large lenders, and its stock remains among the cheapest, according to data compiled by Bloomberg. The Toronto-based firm is also beating the 11 percent 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 percent, the data show.