Bank of Montreal (NYSE:BMO) (TSE:BMO) – Research analysts at Cormark boosted their Q1 2019 EPS estimates for Bank of Montreal in a research note issued to investors on Tuesday, February 19th. Cormark analyst M. Grauman now expects that the bank will post earnings of $1.69 per share for the quarter, up from their prior estimate of $1.65. 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 FY2019 earnings at $7.39 EPS and FY2020 earnings at $7.91 EPS.
A number of other research analysts also recently commented on the stock. TD Securities downgraded shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research report on Tuesday, December 4th. Barclays reissued a “hold” rating on shares of Bank of Montreal in a research report on Friday, November 16th. Bank of America downgraded shares of Bank of Montreal from a “neutral” rating to an “underperform” rating in a research report on Monday, January 28th. Macquarie downgraded shares of Bank of Montreal from an “outperform” rating to a “neutral” rating in a research report on Wednesday, December 12th. Finally, Desjardins reissued a “hold” rating on shares of Bank of Montreal in a research report on Tuesday, December 11th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $103.33.
Bank of Montreal (NYSE:BMO) (TSE:BMO) last announced its quarterly earnings data on Tuesday, December 4th. The bank reported $2.32 EPS for the quarter, beating the Zacks’ consensus estimate of $1.75 by $0.57. Bank of Montreal had a net margin of 16.91% and a return on equity of 14.97%. The firm had revenue of $5.92 billion for the quarter, compared to the consensus estimate of $5.61 billion. During the same period in the previous year, the firm posted $1.94 earnings per share. The firm’s revenue was up 4.7% on a year-over-year basis.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 26th. Shareholders of record on Friday, February 1st will be given a $0.753 dividend. This represents a $3.01 annualized dividend and a yield of 4.04%. This is an increase from Bank of Montreal’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend is Thursday, January 31st. Bank of Montreal’s payout ratio is currently 43.63%.
A number of hedge funds have recently bought and sold shares of BMO. Gantzert Investment Co. LLC ADV bought a new stake in Bank of Montreal in the fourth quarter worth approximately $31,000. Financial Gravity Companies Inc. bought a new stake in Bank of Montreal in the fourth quarter worth approximately $37,000. Heritage Trust Co bought a new stake in Bank of Montreal in the fourth quarter worth approximately $41,000. Lindbrook Capital LLC bought a new stake in Bank of Montreal in the fourth quarter worth approximately $46,000. Finally, Country Trust Bank bought a new stake in Bank of Montreal in the fourth quarter worth approximately $52,000. 44.94% of the stock is owned by institutional investors.
About Bank of Montreal
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, 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, as well as wealth management products and services, such as insurance products.
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