Bank of Montreal

BMO

The Bank of Montreal (French: Banque de Montréal) is a Canadian multinational investment bank and financial services company. Founded in Montreal, Quebec, in 1817 as Montreal Bank, its head office remains in Montreal, with its operational headquarters and executive offices in Toronto, Ontario, since 1977. One of the Big Five banks in Canada, it is the fourth-largest bank in Canada by market capitalization and assets, as well as one of the ten largest banks in North America. It is commonly known by its acronym BMO (pronounced ), which is also its stock symbol on both the Toronto Stock Exchange and the New York Stock Exchange.On 23 June 1817, John Richardson and eight merchants signed the Articles of Association to establish the Montreal Bank in a rented house in Montreal, Quebec. The bank officially began conducting business on 3 November 1817, making it Canada's oldest bank. It underwent a name change to its current in 1822. BMO's Institution Number (or bank number) is 001. In Canada, the bank operates as BMO Bank of Montreal and has more than 900 branches, serving over seven million customers. In the United States, it does business as BMO Financial Group, where it has substantial operations in the Chicago area and elsewhere in the country, where it operates BMO Harris Bank. BMO Capital Markets is BMO's investment and corporate banking division, while the wealth management division is branded as BMO Nesbitt Burns.

Bank of Montreal has been a target of short sellers for a while. The current short interest of 0.84% is roughly at the average of the last 12 months (0.75%).