Desjardins Analysts Lift Earnings Estimates for Bank of Montreal (BMO)

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Bank of Montreal (TSE:BMO) (NYSE:BMO) – Equities researchers at Desjardins raised their FY2018 earnings estimates for shares of Bank of Montreal in a research report issued to clients and investors on Tuesday, November 6th. Desjardins analyst D. Young now anticipates that the bank will earn $8.94 per share for the year, up from their previous forecast of $8.93. Desjardins also issued estimates for Bank of Montreal’s Q4 2018 earnings at $2.30 EPS and FY2020 earnings at $10.10 EPS.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last released its earnings results on Tuesday, August 28th. The bank reported C$2.36 EPS for the quarter, beating the Zacks’ consensus estimate of C$2.27 by C$0.09. The firm had revenue of C$5.82 billion during the quarter, compared to analysts’ expectations of C$5.71 billion.

A number of other brokerages have also recently issued reports on BMO. National Bank Financial lifted their price objective on Bank of Montreal from C$108.00 to C$115.00 and gave the company an “outperform” rating in a research note on Wednesday, August 29th. Royal Bank of Canada lifted their price objective on Bank of Montreal from C$124.00 to C$126.00 and gave the company an “outperform” rating in a research note on Wednesday, August 29th. Canaccord Genuity upgraded Bank of Montreal from a “hold” rating to a “buy” rating and lifted their price objective for the company from C$111.00 to C$118.00 in a research note on Wednesday, August 29th. CIBC lifted their price objective on Bank of Montreal from C$109.00 to C$111.00 in a research note on Wednesday, August 29th. Finally, Eight Capital lifted their price objective on Bank of Montreal from C$119.00 to C$124.00 in a research note on Wednesday, August 29th. Six research analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and a consensus target price of C$114.50.

Shares of TSE:BMO opened at C$99.46 on Wednesday. Bank of Montreal has a 12-month low of C$93.60 and a 12-month high of C$109.00.

In other news, insider Jean-Michel Ares sold 57,356 shares of the business’s stock in a transaction on Friday, September 21st. The stock was sold at an average price of C$108.46, for a total value of C$6,220,831.76. Also, Director Thomas Earl Flynn sold 39,784 shares of the business’s stock in a transaction on Friday, August 31st. The stock was sold at an average price of C$106.82, for a total value of C$4,249,726.88. Insiders have sold 102,140 shares of company stock valued at $11,006,409 in the last quarter.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 27th. Shareholders of record on Thursday, November 1st will be paid a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 3.86%. The ex-dividend date of this dividend is Wednesday, October 31st.

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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Earnings History and Estimates for Bank of Montreal (TSE:BMO)

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