Analysts expect Bank of Montreal (NYSE:BMO) (TSE:BMO) to announce $4.41 billion in sales for the current quarter, Zacks reports. Two analysts have made estimates for Bank of Montreal’s earnings. The lowest sales estimate is $4.25 billion and the highest is $4.57 billion. Bank of Montreal reported sales of $4.53 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 2.6%. The company is expected to issue its next earnings report on Tuesday, December 4th.
On average, analysts expect that Bank of Montreal will report full year sales of $17.22 billion for the current financial year, with estimates ranging from $16.69 billion to $17.75 billion. For the next financial year, analysts expect that the business will post sales of $17.98 billion per share, with estimates ranging from $17.33 billion to $18.64 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Bank of Montreal.
Several research firms have recently issued reports on BMO. Zacks Investment Research cut Bank of Montreal from a “buy” rating to a “hold” rating in a research note on Wednesday, May 16th. Canaccord Genuity raised Bank of Montreal from a “hold” rating to a “buy” rating in a research note on Wednesday, August 29th. Royal Bank of Canada raised Bank of Montreal from a “sector perform” rating to an “outperform” rating and set a $120.00 price target for the company in a research note on Wednesday, July 18th. BMO Capital Markets raised Bank of Montreal to a “$78.97” rating in a research note on Wednesday, July 18th. Finally, National Bank Financial raised Bank of Montreal from a “sector perform” rating to an “outperform” rating in a research note on Thursday, May 31st. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Bank of Montreal has a consensus rating of “Buy” and an average target price of $101.00.
Shares of NYSE:BMO traded up $0.41 on Friday, hitting $81.82. The company’s stock had a trading volume of 627,100 shares, compared to its average volume of 387,860. Bank of Montreal has a 12 month low of $71.72 and a 12 month high of $84.71. The stock has a market cap of $52.45 billion, a price-to-earnings ratio of 13.09, a PEG ratio of 1.43 and a beta of 1.11. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.16 and a current ratio of 1.16.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 27th. Stockholders of record on Thursday, November 1st will be issued a $0.7386 dividend. The ex-dividend date of this dividend is Wednesday, October 31st. This represents a $2.95 annualized dividend and a dividend yield of 3.61%. Bank of Montreal’s dividend payout ratio (DPR) is 47.28%.
Several institutional investors have recently made changes to their positions in BMO. Commerzbank Aktiengesellschaft FI lifted its holdings in shares of Bank of Montreal by 7.0% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 121,224 shares of the bank’s stock valued at $9,161,000 after buying an additional 7,964 shares during the period. Oppenheimer & Co. Inc. acquired a new stake in shares of Bank of Montreal in the first quarter valued at $233,000. DekaBank Deutsche Girozentrale lifted its holdings in shares of Bank of Montreal by 64.8% in the first quarter. DekaBank Deutsche Girozentrale now owns 237,289 shares of the bank’s stock valued at $17,745,000 after buying an additional 93,278 shares during the period. Baskin Financial Services Inc. lifted its holdings in shares of Bank of Montreal by 3.1% in the first quarter. Baskin Financial Services Inc. now owns 23,325 shares of the bank’s stock valued at $1,759,000 after buying an additional 694 shares during the period. Finally, Pinnacle Financial Partners Inc. lifted its holdings in shares of Bank of Montreal by 17.0% in the first quarter. Pinnacle Financial Partners Inc. now owns 35,138 shares of the bank’s stock valued at $2,655,000 after buying an additional 5,104 shares during the period. Institutional investors and hedge funds own 43.14% of the company’s stock.
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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