The Globe and Mail reports in its Wednesday, Aug. 27, edition that Bank of Montreal ($82.16) on Tuesday posted third quarter earnings that surpassed expectations. The Globe's Darcy Keith writes that despite the fine financial showing, the news had scant influence on the bank's stock. Leon, Frazer & Associates manager Ryan Bushell says BMO's stock hardly moved because investors "are looking to take profits in the Canadian banks." He notes that Royal Bank of Canada ($80.68) posted decent results last week, yet its stock also barely moved. Meantime, he notes that Bank of Nova Scotia ($72.45) posted third quarter figures that largely matched expectations, yet its stock took a bit of a tumble Tuesday. Mr. Bushell says: "Banks have had a good run, but any major weakness would be a buying opportunity, and I would be surprised to see a prolonged slump from the banks even from these levels. I'm not concerned about a major (10-per-cent plus) bank correction, unless there is a greater market event. Bank earnings and dividends continue to grow at 5 to 10 per cent per year and yields are 1.5 to two times that of 10-year bonds."