Bank of Montreal (NYSE:BMO) Forecasted to Post Q2 2024 Earnings of $2.04 Per Share

Bank of Montreal (NYSE:BMO) (TSE:BMO) – Investment analysts at Cormark issued their Q2 2024 earnings estimates for shares of Bank of Montreal in a research note issued to investors on Wednesday, May 22nd. Cormark analyst L. Persaud anticipates that the bank will post earnings per share of $2.04 for the quarter. The consensus estimate for Bank of Montreal’s current full-year earnings is $8.31 per share.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last announced its quarterly earnings data on Tuesday, February 27th. The bank reported $1.90 EPS for the quarter, missing the consensus estimate of $2.24 by ($0.34). Bank of Montreal had a net margin of 7.40% and a return on equity of 11.89%. The company had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $6.34 billion.

Several other equities analysts also recently weighed in on the stock. Barclays assumed coverage on shares of Bank of Montreal in a report on Wednesday, March 20th. They issued an “overweight” rating on the stock. StockNews.com raised shares of Bank of Montreal from a “sell” rating to a “hold” rating in a research note on Sunday, March 3rd. Finally, Jefferies Financial Group assumed coverage on Bank of Montreal in a report on Thursday, February 22nd. They issued a “buy” rating on the stock. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $131.00.

Bank of Montreal Price Performance

Shares of NYSE:BMO opened at $95.47 on Friday. Bank of Montreal has a twelve month low of $73.98 and a twelve month high of $100.12. The company’s 50 day moving average is $94.14 and its 200 day moving average is $92.27. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.12. The company has a market cap of $69.62 billion, a PE ratio of 18.22, a price-to-earnings-growth ratio of 2.38 and a beta of 1.13.

Bank of Montreal Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Monday, April 29th will be issued a dividend of $1.1172 per share. This represents a $4.47 annualized dividend and a dividend yield of 4.68%. The ex-dividend date of this dividend is Friday, April 26th. This is a positive change from Bank of Montreal’s previous quarterly dividend of $1.11. Bank of Montreal’s payout ratio is currently 85.31%.

Institutional Trading of Bank of Montreal

Institutional investors and hedge funds have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC grew its position in Bank of Montreal by 192.1% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 333 shares of the bank’s stock valued at $28,000 after acquiring an additional 219 shares in the last quarter. Principal Securities Inc. acquired a new position in shares of Bank of Montreal during the fourth quarter worth about $33,000. Cullen Frost Bankers Inc. grew its position in shares of Bank of Montreal by 3,375.0% during the fourth quarter. Cullen Frost Bankers Inc. now owns 417 shares of the bank’s stock worth $41,000 after buying an additional 405 shares in the last quarter. Crewe Advisors LLC lifted its stake in Bank of Montreal by 63.5% during the third quarter. Crewe Advisors LLC now owns 515 shares of the bank’s stock worth $43,000 after purchasing an additional 200 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new stake in Bank of Montreal during the fourth quarter worth approximately $44,000. 45.82% of the stock is currently owned by hedge funds and other institutional investors.

Bank of Montreal Company Profile

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.