Cormark Weighs in on Bank of Montreal’s Q1 2020 Earnings (NYSE:BMO)

Bank of Montreal (NYSE:BMO) (TSE:BMO) – Cormark lifted their Q1 2020 EPS estimates for shares of Bank of Montreal in a research note issued on Wednesday, December 4th. Cormark analyst M. Grauman now forecasts that the bank will post earnings of $1.69 per share for the quarter, up from their prior estimate of $1.63. Cormark also issued estimates for Bank of Montreal’s Q2 2020 earnings at $1.94 EPS, Q3 2020 earnings at $1.94 EPS and Q4 2020 earnings at $1.93 EPS.

Other equities analysts have also recently issued research reports about the company. Zacks Investment Research cut Bank of Montreal from a “buy” rating to a “hold” rating in a report on Monday, November 18th. Credit Suisse Group increased their price target on Bank of Montreal from $93.00 to $94.00 and gave the company a “neutral” rating in a report on Wednesday. Oppenheimer upgraded Bank of Montreal from a “neutral” rating to an “outperform” rating in a research report on Wednesday. ValuEngine raised shares of Bank of Montreal from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, CIBC raised shares of Bank of Montreal from a “neutral” rating to a “sector outperform” rating and set a $109.00 price objective for the company in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $96.33.

Shares of BMO stock opened at $75.48 on Thursday. The company has a market cap of $48.32 billion, a PE ratio of 10.80, a price-to-earnings-growth ratio of 1.94 and a beta of 1.19. Bank of Montreal has a 1 year low of $62.79 and a 1 year high of $79.35. The stock’s 50 day simple moving average is $75.53 and its two-hundred day simple moving average is $74.01. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 1.02.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly earnings results on Tuesday, December 3rd. The bank reported $2.43 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.82 by $0.61. Bank of Montreal had a return on equity of 14.14% and a net margin of 16.48%. The company had revenue of $6.09 billion during the quarter, compared to analyst estimates of $5.86 billion. During the same quarter last year, the business posted $2.32 earnings per share. The firm’s revenue was up 3.3% on a year-over-year basis.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Monday, February 3rd will be paid a $0.7965 dividend. The ex-dividend date is Friday, January 31st. This represents a $3.19 annualized dividend and a yield of 4.22%. This is an increase from Bank of Montreal’s previous quarterly dividend of $0.78. Bank of Montreal’s dividend payout ratio (DPR) is presently 44.78%.

Several hedge funds have recently modified their holdings of BMO. ARS Investment Partners LLC bought a new position in Bank of Montreal in the 2nd quarter valued at $473,000. Bank of Nova Scotia Trust Co. grew its holdings in shares of Bank of Montreal by 1.5% in the second quarter. Bank of Nova Scotia Trust Co. now owns 642,250 shares of the bank’s stock worth $48,458,000 after purchasing an additional 9,479 shares during the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH grew its holdings in shares of Bank of Montreal by 6.2% in the third quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 6,719 shares of the bank’s stock worth $494,000 after purchasing an additional 390 shares during the last quarter. Lakeview Capital Partners LLC grew its holdings in shares of Bank of Montreal by 4.5% in the third quarter. Lakeview Capital Partners LLC now owns 3,135 shares of the bank’s stock worth $231,000 after purchasing an additional 135 shares during the last quarter. Finally, Scotia Capital Inc. increased its stake in Bank of Montreal by 1.7% in the 2nd quarter. Scotia Capital Inc. now owns 2,162,495 shares of the bank’s stock worth $162,968,000 after buying an additional 35,289 shares during the period. 42.09% 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 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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Earnings History and Estimates for Bank of Montreal (NYSE:BMO)

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