Bank of Montreal (NYSE:BMO) (TSE:BMO) – Equities researchers at Cormark dropped their FY2018 earnings estimates for Bank of Montreal in a research report issued to clients and investors on Wednesday, August 15th. Cormark analyst M. Grauman now forecasts that the bank will post earnings of $6.86 per share for the year, down from their previous estimate of $7.22. Cormark also issued estimates for Bank of Montreal’s FY2019 earnings at $7.38 EPS.
Several other equities analysts have also issued reports on the company. Royal Bank of Canada raised Bank of Montreal from a “sector perform” rating to an “outperform” rating and set a $120.00 target price for the company in a report on Wednesday, July 18th. BMO Capital Markets raised Bank of Montreal to a “$78.97” rating in a report on Wednesday, July 18th. Zacks Investment Research raised Bank of Montreal from a “hold” rating to a “buy” rating and set a $87.00 price objective for the company in a report on Monday, June 4th. National Bank Financial raised Bank of Montreal from a “sector perform” rating to an “outperform” rating in a report on Thursday, May 31st. Finally, ValuEngine lowered Bank of Montreal from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $101.00.
BMO stock opened at $81.05 on Monday. The company has a market capitalization of $51.93 billion, a PE ratio of 13.05, a price-to-earnings-growth ratio of 1.53 and a beta of 1.07. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.17 and a quick ratio of 1.17. Bank of Montreal has a 12-month low of $71.37 and a 12-month high of $84.71.
Bank of Montreal (NYSE:BMO) (TSE:BMO) last released its earnings results on Wednesday, May 30th. The bank reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.67 by $0.53. The company had revenue of $5.62 billion during the quarter, compared to analyst estimates of $5.38 billion. Bank of Montreal had a return on equity of 14.38% and a net margin of 16.37%. Bank of Montreal’s quarterly revenue was down 2.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.92 earnings per share.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 28th. Shareholders of record on Wednesday, August 1st will be issued a dividend of $0.747 per share. This represents a $2.99 annualized dividend and a yield of 3.69%. The ex-dividend date is Tuesday, July 31st. Bank of Montreal’s dividend payout ratio (DPR) is 47.28%.
A number of hedge funds and other institutional investors have recently made changes to their positions in BMO. AdvisorNet Financial Inc grew its holdings in Bank of Montreal by 148.1% during the second quarter. AdvisorNet Financial Inc now owns 1,526 shares of the bank’s stock valued at $118,000 after purchasing an additional 911 shares during the period. Perigon Wealth Management LLC grew its holdings in Bank of Montreal by 71.3% during the first quarter. Perigon Wealth Management LLC now owns 1,728 shares of the bank’s stock valued at $131,000 after purchasing an additional 719 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new position in Bank of Montreal during the second quarter valued at $155,000. Lee Financial Co grew its holdings in Bank of Montreal by 1,050.0% during the first quarter. Lee Financial Co now owns 2,300 shares of the bank’s stock valued at $174,000 after purchasing an additional 2,100 shares during the period. Finally, Clearwater Capital Advisors LLC bought a new position in Bank of Montreal during the first quarter valued at $185,000. 42.84% of the stock is owned by institutional investors and hedge funds.
About Bank of Montreal
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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