Bank of Montreal (NYSE:BMO) (TSE:BMO) – National Bank Financial cut their Q1 2019 earnings estimates for shares of Bank of Montreal in a research report issued on Tuesday, December 4th. National Bank Financial analyst G. Dechaine now expects that the bank will earn $1.73 per share for the quarter, down from their prior forecast of $1.74. National Bank Financial also issued estimates for Bank of Montreal’s Q2 2019 earnings at $1.60 EPS, FY2019 earnings at $7.24 EPS and FY2020 earnings at $7.65 EPS.
Bank of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings data on Tuesday, December 4th. The bank reported $2.32 EPS for the quarter, beating the consensus estimate of $1.75 by $0.57. Bank of Montreal had a net margin of 16.91% and a return on equity of 15.14%. The business had revenue of $5.92 billion for the quarter, compared to analysts’ expectations of $5.61 billion. During the same period in the previous year, the firm posted $1.94 EPS. The firm’s revenue was up 4.7% compared to the same quarter last year.
Several other brokerages also recently commented on BMO. Canaccord Genuity raised shares of Bank of Montreal from a “hold” rating to a “buy” rating in a report on Wednesday, August 29th. Zacks Investment Research downgraded shares of Bank of Montreal from a “hold” rating to a “sell” rating in a report on Friday, November 9th. TD Securities downgraded shares of Bank of Montreal from a “buy” rating to a “hold” rating in a report on Tuesday. Barclays reaffirmed a “hold” rating on shares of Bank of Montreal in a report on Friday, November 16th. Finally, Cormark cut shares of Bank of Montreal from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $115.00 to $109.00 in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $106.00.
Shares of BMO stock opened at $70.23 on Thursday. The firm has a market capitalization of $45.93 billion, a price-to-earnings ratio of 10.05, a price-to-earnings-growth ratio of 1.20 and a beta of 1.11. Bank of Montreal has a 1 year low of $69.00 and a 1 year high of $84.71. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.14.
A number of hedge funds and other institutional investors have recently bought and sold shares of BMO. Millennium Management LLC bought a new position in shares of Bank of Montreal in the first quarter valued at approximately $216,000. Raymond James Financial Services Advisors Inc. increased its stake in shares of Bank of Montreal by 12.1% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 27,464 shares of the bank’s stock worth $2,123,000 after buying an additional 2,955 shares during the period. CIBC Private Wealth Group LLC increased its position in Bank of Montreal by 30.8% during the 2nd quarter. CIBC Private Wealth Group LLC now owns 4,459 shares of the bank’s stock valued at $345,000 after purchasing an additional 1,050 shares during the period. State of Wisconsin Investment Board grew its position in shares of Bank of Montreal by 9.5% in the 2nd quarter. State of Wisconsin Investment Board now owns 562,267 shares of the bank’s stock worth $43,436,000 after buying an additional 48,734 shares during the period. Finally, Financial Counselors Inc. grew its position in shares of Bank of Montreal by 23.0% in the 2nd quarter. Financial Counselors Inc. now owns 14,020 shares of the bank’s stock worth $1,083,000 after buying an additional 2,618 shares during the period. Institutional investors and hedge funds own 43.89% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 26th. Investors of record on Friday, February 1st will be given a dividend of $0.753 per share. This is a positive change from Bank of Montreal’s previous quarterly dividend of $0.74. This represents a $3.01 dividend on an annualized basis and a dividend yield of 4.29%. The ex-dividend date of this dividend is Thursday, January 31st. Bank of Montreal’s dividend payout ratio (DPR) is presently 41.77%.
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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