Bank of Montreal (NYSE:BMO) (TSE:BMO) – Equities research analysts at Cormark reduced their Q1 2019 earnings per share estimates for Bank of Montreal in a report issued on Wednesday, December 5th. Cormark analyst M. Grauman now expects that the bank will post earnings per share of $1.65 for the quarter, down from their previous estimate of $1.70. Cormark currently has a “Market Perform” rating and a $109.00 target price on the stock. Cormark also issued estimates for Bank of Montreal’s Q2 2019 earnings at $1.79 EPS, FY2019 earnings at $7.35 EPS, Q1 2020 earnings at $1.83 EPS, Q2 2020 earnings at $1.98 EPS, Q3 2020 earnings at $2.05 EPS, Q4 2020 earnings at $2.00 EPS and FY2020 earnings at $7.87 EPS.
Bank of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly earnings results on Tuesday, December 4th. The bank reported $2.32 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.75 by $0.57. The firm had revenue of $5.92 billion during the quarter, compared to the consensus estimate of $5.61 billion. Bank of Montreal had a net margin of 16.91% and a return on equity of 15.14%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.94 earnings per share.
Several other equities research analysts have also recently weighed in on the stock. Barclays reiterated a “hold” rating on shares of Bank of Montreal in a research report on Tuesday. Canaccord Genuity reiterated a “buy” rating on shares of Bank of Montreal in a research report on Tuesday. TD Securities cut shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research report on Tuesday. Zacks Investment Research upgraded shares of Bank of Montreal from a “sell” rating to a “hold” rating in a research report on Friday, November 30th. Finally, ValuEngine cut shares of Bank of Montreal from a “hold” rating to a “sell” rating in a research report on Thursday, November 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $106.00.
BMO opened at $70.23 on Thursday. Bank of Montreal has a twelve month low of $69.00 and a twelve month high of $84.71. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.14. The firm has a market cap of $45.93 billion, a PE ratio of 10.05, a PEG ratio of 1.20 and a beta of 1.11.
Institutional investors and hedge funds have recently bought and sold shares of the company. BDO Wealth Advisors LLC acquired a new stake in shares of Bank of Montreal during the second quarter worth $105,000. Columbia Asset Management acquired a new stake in shares of Bank of Montreal during the third quarter worth $161,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in shares of Bank of Montreal during the second quarter worth $155,000. Zions Bancorporation acquired a new stake in shares of Bank of Montreal during the third quarter worth $175,000. Finally, Clearwater Capital Advisors LLC acquired a new stake in shares of Bank of Montreal during the third quarter worth $202,000. Institutional investors own 43.89% of the company’s stock.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 26th. Stockholders of record on Friday, February 1st will be given a dividend of $0.753 per share. The ex-dividend date of this dividend is Thursday, January 31st. This is a boost from Bank of Montreal’s previous quarterly dividend of $0.74. This represents a $3.01 annualized dividend and a dividend yield of 4.29%. Bank of Montreal’s dividend payout ratio is 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.
See Also: Fundamental Analysis