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Bank Earnings: RBC and TD Seen Possibly Lifting Their Dividends This Results Period
By: MT Newswires
It is a big week for bank earnings with Bank of Montreal (BMO.TO, BMO) kicking things off on Tuesday with forecasts for earnings of $1.58. S&P Capital's Erik Oja said on Canada's BNN TV he expects bank revenues to grow by an average of 3% and profits by an average of 6%. Oja says RBC and TD could both be in line to increase their dividends again as both generally lift their dividends twice each year. He also sees stronger mortgage income based on strong recent housing data and stronger wealth management income based on the performance of Canada and U.S. equity markets in recent months.
Canadian Western Bank (CWB.TO) and National Bank (NA.TO) are both slated to report Wednesday, with forecast EPS of $0.62 and $2.09 respectively.
Thursday is the busiest day with CIBC (CM, CM.TO) and Royal Bank (RY, RY.TO) and TD Bank (TD.TO, TD) due to issue earnings. Forecasts are for $2.15, $1.38 and $1.99 respectively.
Scotiabank (BNS, BNS.TO) is due to report Friday, with forecasts for $1.32.