Cormark Estimates Bank of Montreal’s Q4 Earnings (NYSE:BMO)

Bank of Montreal (NYSE:BMO) (TSE:BMO) – Investment analysts at Cormark issued their Q4 2024 EPS estimates for shares of Bank of Montreal in a report released on Monday, November 25th. Cormark analyst L. Persaud forecasts that the bank will post earnings of $1.74 per share for the quarter. The consensus estimate for Bank of Montreal’s current full-year earnings is $7.37 per share.

A number of other analysts have also commented on the company. TD Securities lowered Bank of Montreal from a “buy” rating to a “hold” rating in a report on Tuesday, August 27th. Bank of America lowered Bank of Montreal from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $134.00 to $117.00 in a research note on Wednesday, August 28th. Barclays reduced their price target on shares of Bank of Montreal from $132.00 to $126.00 and set an “overweight” rating for the company in a research report on Wednesday, August 28th. Scotiabank cut shares of Bank of Montreal from a “sector outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $123.00 to $112.00 in a research report on Wednesday, August 28th. Finally, Jefferies Financial Group cut Bank of Montreal from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Bank of Montreal presently has an average rating of “Hold” and an average target price of $119.75.

Bank of Montreal Stock Performance

Shares of BMO stock opened at $94.96 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.98 and a quick ratio of 0.98. The company has a market cap of $69.28 billion, a P/E ratio of 14.95, a P/E/G ratio of 2.60 and a beta of 1.10. Bank of Montreal has a one year low of $76.98 and a one year high of $100.12. The firm has a 50-day moving average of $92.47 and a 200-day moving average of $88.34.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly earnings results on Tuesday, August 27th. The bank reported $2.64 EPS for the quarter, missing analysts’ consensus estimates of $2.76 by ($0.12). The company had revenue of $8.21 billion during the quarter, compared to analysts’ expectations of $8.25 billion. Bank of Montreal had a net margin of 8.50% and a return on equity of 11.23%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the company posted $2.08 earnings per share.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in BMO. Cetera Investment Advisers increased its position in Bank of Montreal by 454.8% during the 1st quarter. Cetera Investment Advisers now owns 17,171 shares of the bank’s stock valued at $1,677,000 after purchasing an additional 14,076 shares during the period. Cetera Advisors LLC increased its stake in Bank of Montreal by 171.3% during the 1st quarter. Cetera Advisors LLC now owns 6,261 shares of the bank’s stock valued at $612,000 after purchasing an additional 3,953 shares in the last quarter. Pathway Financial Advisers LLC purchased a new position in Bank of Montreal in the 1st quarter worth approximately $105,000. EverSource Wealth Advisors LLC increased its holdings in shares of Bank of Montreal by 34.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 623 shares of the bank’s stock worth $56,000 after purchasing an additional 160 shares in the last quarter. Finally, Rempart Asset Management Inc. increased its holdings in Bank of Montreal by 0.5% in the 2nd quarter. Rempart Asset Management Inc. now owns 223,993 shares of the bank’s stock worth $18,789,000 after buying an additional 1,100 shares in the last quarter. 45.82% of the stock is owned by hedge funds and other institutional investors.

About Bank of Montreal

Bank of Montreal provides diversified financial services primarily in North America. It operates through Canadian P&C, U.S P&C, BMO Wealth Management, and BMO Capital Markets segments. The company’s personal banking products and services include deposits, mortgages, home lending, consumer credit, small business lending, credit cards, cash management, financial and investment advice, and other banking services; and commercial banking products and services comprise various of financing options and treasury and payment solutions, as well as risk management products.