Equities Analysts Issue Forecasts for Bank of Montreal’s Q2 2019 Earnings (BMO)

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Bank of Montreal (TSE:BMO) (NYSE:BMO) – Investment analysts at National Bank Financial reduced their Q2 2019 earnings per share estimates for shares of Bank of Montreal in a report released on Tuesday, December 4th. National Bank Financial analyst G. Dechaine now expects that the bank will post earnings per share of $2.11 for the quarter, down from their prior estimate of $2.14. National Bank Financial currently has a “Outperform” rating and a $114.00 price objective on the stock. National Bank Financial also issued estimates for Bank of Montreal’s FY2019 earnings at $9.52 EPS and FY2020 earnings at $10.07 EPS.

Several other research analysts have also weighed in on the stock. CIBC upped their target price on shares of Bank of Montreal from C$109.00 to C$111.00 in a research report on Wednesday, August 29th. Royal Bank of Canada upped their target price on shares of Bank of Montreal from C$124.00 to C$126.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 29th. Eight Capital upped their target price on shares of Bank of Montreal from C$119.00 to C$124.00 in a research report on Wednesday, August 29th. Barclays lowered their target price on shares of Bank of Montreal from C$105.00 to C$103.00 in a research report on Wednesday. Finally, Canaccord Genuity upgraded shares of Bank of Montreal from a “hold” rating to a “buy” rating and upped their target price for the stock from C$111.00 to C$118.00 in a research report on Wednesday, August 29th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of C$112.27.

Shares of BMO opened at C$93.90 on Thursday. Bank of Montreal has a twelve month low of C$92.64 and a twelve month high of C$109.00.

In other news, insider Jean-Michel Ares sold 57,356 shares of the stock in a transaction that occurred on Friday, September 21st. The shares were sold at an average price of C$108.46, for a total value of C$6,220,831.76.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 26th. Stockholders of record on Friday, February 1st will be given a $1.00 dividend. The ex-dividend date is Thursday, January 31st. This is a positive change from Bank of Montreal’s previous quarterly dividend of $0.96. This represents a $4.00 annualized dividend and a dividend yield of 4.26%. Bank of Montreal’s dividend payout ratio is currently 50.28%.

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.

Further Reading: How Do You Calculate Return on Equity (ROE)?

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

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