Bank Of Montreal (NYSE:BMO) – Stock analysts at Cormark issued their FY2018 earnings estimates for Bank Of Montreal in a research report issued on Wednesday. Cormark analyst M. Grauman forecasts that the brokerage will post earnings per share of $6.02 for the year.

Other equities research analysts also recently issued research reports about the company. Zacks Investment Research raised Bank Of Montreal from a “hold” rating to a “buy” rating and set a $71.00 price objective on the stock in a report on Thursday, August 4th. Desjardins reissued a “hold” rating and set a $86.00 price objective (up previously from $84.00) on shares of Bank Of Montreal in a report on Thursday, August 25th. Credit Suisse Group AG reissued a “hold” rating on shares of Bank Of Montreal in a report on Sunday, September 11th. TD Securities reissued a “hold” rating and set a $89.00 price objective (up previously from $86.00) on shares of Bank Of Montreal in a report on Thursday, August 25th. Finally, Dundee Securities started coverage on Bank Of Montreal in a report on Wednesday, September 21st. They set a “neutral” rating on the stock. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and an average price target of $83.89.

Earnings History and Estimates for Bank Of Montreal (NYSE:BMO)

Shares of Bank Of Montreal (NYSE:BMO) traded down 0.58% during midday trading on Thursday, hitting $63.53. The company’s stock had a trading volume of 572,159 shares. The company has a market cap of $40.98 billion, a P/E ratio of 12.66 and a beta of 1.06. Bank Of Montreal has a 1-year low of $47.54 and a 1-year high of $67.69. The company has a 50-day moving average price of $64.17 and a 200 day moving average price of $64.38.

Bank Of Montreal (NYSE:BMO) last announced its quarterly earnings results on Tuesday, August 23rd. The company reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.11. Bank Of Montreal had a return on equity of 12.66% and a net margin of 17.82%. The company earned $5.63 billion during the quarter, compared to the consensus estimate of $3.88 billion. During the same period in the prior year, the company earned $1.86 earnings per share. The company’s revenue for the quarter was up 16.7% compared to the same quarter last year.

A number of hedge funds have recently modified their holdings of the stock. CIBC World Markets Inc. raised its stake in shares of Bank Of Montreal by 0.9% in the second quarter. CIBC World Markets Inc. now owns 27,233,628 shares of the company’s stock worth $1,726,340,000 after buying an additional 244,618 shares during the last quarter. TD Asset Management Inc. raised its stake in shares of Bank Of Montreal by 2.1% in the second quarter. TD Asset Management Inc. now owns 26,138,912 shares of the company’s stock worth $1,649,406,000 after buying an additional 530,618 shares in the last quarter. Bank of Montreal Can bought a new stake in shares of Bank Of Montreal during the second quarter worth approximately $980,506,000. Capital Research Global Investors raised its stake in shares of Bank Of Montreal by 97.1% in the second quarter. Capital Research Global Investors now owns 12,729,160 shares of the company’s stock worth $807,426,000 after buying an additional 6,269,734 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Bank Of Montreal by 13.2% in the second quarter. Vanguard Group Inc. now owns 12,343,265 shares of the company’s stock worth $782,440,000 after buying an additional 1,436,726 shares in the last quarter. 47.95% of the stock is owned by institutional investors and hedge funds.

The company also recently announced a quarterly dividend, which will be paid on Monday, November 28th. Investors of record on Tuesday, November 1st will be given a $0.6696 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 4.22%. This is a positive change from Bank Of Montreal’s previous quarterly dividend of $0.66. The ex-dividend date is Friday, October 28th. Bank Of Montreal’s payout ratio is presently 51.68%.

About Bank Of Montreal

Bank of Montreal (BMO) is a financial services company. The Bank provides a range of personal and commercial banking, wealth management and investment banking products and services. The Bank’s operating groups include Personal and Commercial Banking, Wealth Management, BMO Capital Markets (BMO CM) and Corporate Services, including Technology and Operations.

5 Day Chart for NYSE:BMO

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