Bank of Montreal (TSE:BMO) (NYSE:BMO) is scheduled to be issuing its quarterly earnings data before the market opens on Tuesday, August 28th. Analysts expect the company to announce earnings of C$2.30 per share for the quarter.
Bank of Montreal (TSE:BMO) (NYSE:BMO) last announced its quarterly earnings results on Wednesday, May 30th. The bank reported C$2.20 EPS for the quarter, beating the Zacks’ consensus estimate of C$2.15 by C$0.05. The company had revenue of C$5.62 billion for the quarter, compared to analysts’ expectations of C$5.52 billion. Bank of Montreal had a net margin of 17.14% and a return on equity of 9.46%.
Shares of BMO stock opened at C$105.97 on Tuesday. Bank of Montreal has a 12 month low of C$88.63 and a 12 month high of C$106.32.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 28th. Investors of record on Wednesday, August 1st will be paid a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date is Tuesday, July 31st.
In other Bank of Montreal news, insider Patrick Cronin sold 24,417 shares of the stock in a transaction that occurred on Wednesday, June 6th. The shares were sold at an average price of C$101.14, for a total value of C$2,469,535.38. Also, insider Cameron Mcaskile Fowler sold 19,010 shares of the stock in a transaction that occurred on Tuesday, June 26th. The stock was sold at an average price of C$102.24, for a total transaction of C$1,943,582.40. Insiders sold a total of 117,198 shares of company stock worth $11,932,764 over the last quarter.
BMO has been the topic of a number of recent research reports. Royal Bank of Canada upgraded shares of Bank of Montreal from a “sector perform” rating to a “c$103.93” rating and upped their price target for the company from C$120.00 to C$124.00 in a research note on Wednesday, July 18th. Cormark upped their price target on shares of Bank of Montreal from C$110.00 to C$115.00 in a research note on Thursday, May 31st. National Bank Financial upgraded shares of Bank of Montreal from a “sector perform” rating to an “outperform” rating and upped their price target for the company from C$106.00 to C$108.00 in a research note on Thursday, May 31st. Citigroup upped their price target on shares of Bank of Montreal from C$116.00 to C$120.00 in a research note on Friday, June 1st. Finally, Eight Capital upped their price target on shares of Bank of Montreal from C$109.00 to C$114.00 in a research note on Thursday, May 31st. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of C$112.00.
Bank of Montreal Company Profile
Bank of Montreal provides diversified financial services primarily in North America. It operates through three groups: Personal and Commercial Banking, Wealth Management, and BMO Capital Markets. The company's personal banking products and services include checking and savings accounts, credit cards, mortgages, creditor insurance products, and financial and investment advice services; and commercial banking products and services comprise business deposit accounts, commercial credit cards, business loans and commercial mortgages, cash management solutions, foreign exchange, and specialized banking programs for small business and commercial banking customers.
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