Bank of Montreal (NYSE:BMO) (TSE:BMO) – Equities researchers at Desjardins reduced their FY2020 EPS estimates for shares of Bank of Montreal in a research report issued on Tuesday, December 3rd. Desjardins analyst D. Young now expects that the bank will post earnings of $7.43 per share for the year, down from their previous forecast of $7.53.
Bank of Montreal (NYSE:BMO) (TSE:BMO) last announced its quarterly earnings data on Tuesday, December 3rd. The bank reported $2.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.61. The business had revenue of $6.09 billion during the quarter, compared to the consensus estimate of $5.86 billion. Bank of Montreal had a net margin of 16.48% and a return on equity of 14.14%. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.32 EPS.
Other equities analysts have also issued reports about the company. Scotiabank reaffirmed a “hold” rating on shares of Bank of Montreal in a report on Tuesday, August 20th. ValuEngine raised Bank of Montreal from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Oppenheimer upgraded Bank of Montreal from a “neutral” rating to an “outperform” rating in a research report on Wednesday. CIBC upgraded 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. Finally, Credit Suisse Group increased their target price on Bank of Montreal from $93.00 to $94.00 and gave the stock a “neutral” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $96.33.
Shares of NYSE BMO opened at $75.60 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. The firm’s 50-day moving average price is $75.49 and its two-hundred day moving average price is $74.01. Bank of Montreal has a 52-week low of $62.79 and a 52-week high of $79.35. The stock has a market capitalization of $48.02 billion, a P/E ratio of 10.82, a P/E/G ratio of 1.94 and a beta of 1.19.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Monday, February 3rd will be given a $0.7965 dividend. This is a boost from Bank of Montreal’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Friday, January 31st. This represents a $3.19 annualized dividend and a yield of 4.21%. Bank of Montreal’s dividend payout ratio is 44.78%.
Hedge funds have recently modified their holdings of the stock. Usca Ria LLC acquired a new position in Bank of Montreal during the 3rd quarter worth $30,000. Cerebellum GP LLC bought a new stake in shares of Bank of Montreal during the third quarter valued at about $31,000. Horan Capital Advisors LLC. bought a new stake in shares of Bank of Montreal during the third quarter valued at about $33,000. NEXT Financial Group Inc lifted its holdings in Bank of Montreal by 38.5% in the second quarter. NEXT Financial Group Inc now owns 518 shares of the bank’s stock worth $39,000 after purchasing an additional 144 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. acquired a new stake in Bank of Montreal in the second quarter worth about $74,000. 42.09% of the stock is owned by institutional investors and hedge funds.
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, 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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