Side by sideBMO (BMO.TO) and National Bank (NA.TO)Memos of October 20, 2026 and October 14, 2026
BMO vs National Bank stock: the numbers side by side (October 2026)
How do BMO and National Bank compare?
| BMO BMO.TO | National Bank NA.TO | |
|---|---|---|
| Revenue growth | 10.6%Oct 2025 | 22.6%Oct 2025 |
| Net interest margin | 1.7%Oct 2025 | 0.9%Oct 2025 |
| Efficiency ratio (lower is leaner) | 58.2%Oct 2025 | 54.4%Oct 2025 |
| Return on equity | 10.6%Oct 2025 | 13.7%Oct 2025 |
| CET1 capital ratio | 13.3%Oct 2025 | 13.8%Oct 2025 |
| Dividend yield | 2.9%Today (Oct 20, 2026) | 2.6%Today (Oct 14, 2026) |
| P/E, last 12 months | 19.1xToday (Oct 20, 2026) | 16.9xToday (Oct 14, 2026) |
| P/E, next 12 months | 15.8xToday (Oct 20, 2026) | 15.4xToday (Oct 14, 2026) |
| Weighted price forecast, about 1 year | 234.71 (+3 %)October 2027 | 203.16 (+3 %)October 2027 |
| Weighted price forecast, about 3 years | 254.60 (+18 %)October 2029 | 225.56 (+20 %)October 2029 |
Who leads on what?
| Leads | The lead is | |
|---|---|---|
| Revenue growth | National Bank | The higher figure |
| Net interest margin | BMO | The higher figure |
| Efficiency ratio (lower is leaner) | National Bank | The lower figure |
| Return on equity | National Bank | The higher figure |
| CET1 capital ratio | National Bank | The higher figure |
| Dividend yield | BMO | The higher figure |
| P/E, last 12 months | National Bank | The lower figure |
| P/E, next 12 months | National Bank | The lower figure |
| Weighted price forecast, about 1 year | — | The higher weighted return |
| Weighted price forecast, about 3 years | National Bank | The higher weighted return |
What does each company do?
BMO sells banking, lending, payments, wealth, insurance and capital-markets services to households, businesses, governments and investors.
BMO (BMO.TO), from our memo of October 20, 2026 · BMO stock forecast
National Bank serves households and businesses with deposits, payments, loans and investments.
National Bank (NA.TO), from our memo of October 14, 2026 · National Bank stock forecast