Wall Street brokerages expect Bank Of Montreal (NYSE:BMO) (TSE:BMO) to announce $1.60 earnings per share for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Bank Of Montreal’s earnings, with the highest EPS estimate coming in at $1.62 and the lowest estimate coming in at $1.59. Bank Of Montreal also reported earnings of $1.60 per share during the same quarter last year. The firm is expected to announce its next quarterly earnings report before the market opens on Tuesday, December 5th.
According to Zacks, analysts expect that Bank Of Montreal will report full-year earnings of $6.39 per share for the current year, with EPS estimates ranging from $6.29 to $6.44. For the next year, analysts expect that the firm will report earnings of $6.65 per share, with EPS estimates ranging from $6.58 to $6.70. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that cover Bank Of Montreal.
Bank Of Montreal (NYSE:BMO) (TSE:BMO) last announced its quarterly earnings data on Tuesday, August 29th. The bank reported $1.53 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.04). The firm had revenue of $5.46 billion for the quarter, compared to the consensus estimate of $5.52 billion. Bank Of Montreal had a net margin of 20.04% and a return on equity of 14.36%. Bank Of Montreal’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period last year, the company posted $1.94 earnings per share.
Several equities research analysts have issued reports on BMO shares. Canaccord Genuity started coverage on Bank Of Montreal in a research report on Tuesday, July 18th. They set a “hold” rating on the stock. Zacks Investment Research upgraded Bank Of Montreal from a “hold” rating to a “buy” rating and set a $85.00 target price on the stock in a research report on Tuesday, July 18th. BidaskClub downgraded Bank Of Montreal from a “buy” rating to a “hold” rating in a research report on Saturday, August 5th. Scotiabank restated a “buy” rating and set a $101.00 target price on shares of Bank Of Montreal in a research report on Wednesday, August 30th. Finally, Macquarie started coverage on Bank Of Montreal in a research report on Tuesday, October 24th. They set a “neutral” rating and a $81.00 target price on the stock. One investment 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’s stock. Bank Of Montreal currently has an average rating of “Hold” and a consensus target price of $95.40.
Hedge funds have recently modified their holdings of the stock. Aperio Group LLC raised its position in shares of Bank Of Montreal by 2.3% in the third quarter. Aperio Group LLC now owns 403,344 shares of the bank’s stock worth $30,537,000 after buying an additional 9,170 shares in the last quarter. USS Investment Management Ltd purchased a new stake in shares of Bank Of Montreal in the second quarter worth $6,314,000. Blair William & Co. IL raised its position in shares of Bank Of Montreal by 6.5% in the second quarter. Blair William & Co. IL now owns 16,738 shares of the bank’s stock worth $1,229,000 after buying an additional 1,023 shares in the last quarter. Intact Investment Management Inc. raised its position in shares of Bank Of Montreal by 106.6% in the second quarter. Intact Investment Management Inc. now owns 575,323 shares of the bank’s stock worth $54,782,000 after buying an additional 296,840 shares in the last quarter. Finally, Dana Investment Advisors Inc. raised its position in shares of Bank Of Montreal by 22.3% in the second quarter. Dana Investment Advisors Inc. now owns 7,906 shares of the bank’s stock worth $581,000 after buying an additional 1,442 shares in the last quarter. Institutional investors own 42.65% of the company’s stock.
Bank Of Montreal (BMO) traded down $0.56 during trading hours on Friday, hitting $77.22. The company’s stock had a trading volume of 214,900 shares, compared to its average volume of 429,896. The stock has a market capitalization of $50,115.78, a P/E ratio of 12.28, a P/E/G ratio of 2.16 and a beta of 1.06. Bank Of Montreal has a 12-month low of $63.02 and a 12-month high of $78.86. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.13.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 28th. Investors of record on Wednesday, November 1st will be given a $0.717 dividend. This represents a $2.87 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date is Tuesday, October 31st. This is an increase from Bank Of Montreal’s previous quarterly dividend of $0.66. Bank Of Montreal’s dividend payout ratio (DPR) is 46.91%.
About Bank Of Montreal
Bank of Montreal (the Bank) is a financial services provider. The Bank provides a range of personal and commercial banking, wealth management and investment banking products and services. The Bank conducts its business through three operating groups: Personal and Commercial Banking (P&C), Wealth Management and BMO Capital Markets.
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