Bank Of Montreal (NYSE:BMO) – Equities researchers at Cormark cut their FY2016 earnings per share (EPS) estimates for shares of Bank Of Montreal in a report released on Wednesday. Cormark analyst M. Grauman now anticipates that the firm will post earnings of $5.45 per share for the year, down from their previous forecast of $5.61. Cormark also issued estimates for Bank Of Montreal’s Q4 2016 earnings at $1.40 EPS and FY2017 earnings at $5.68 EPS.

Several other analysts also recently issued reports on the company. Credit Suisse Group AG downgraded Bank Of Montreal from a “neutral” rating to an “underperform” rating in a research note on Tuesday, October 4th. RBC Capital Markets reissued a “sector perform” rating and set a $88.00 target price on shares of Bank Of Montreal in a research note on Wednesday, October 5th. Scotiabank reissued a “sector perform” rating and set a $86.00 target price on shares of Bank Of Montreal in a research note on Tuesday, October 18th. Bank of America Corp. reissued a “neutral” rating on shares of Bank Of Montreal in a research note on Tuesday, November 1st. Finally, Zacks Investment Research downgraded Bank Of Montreal from a “buy” rating to a “hold” rating in a research note on Tuesday, October 25th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $83.89.

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

Bank Of Montreal (NYSE:BMO) opened at 63.53 on Friday. Bank Of Montreal has a one year low of $47.54 and a one year high of $67.69. The company’s 50 day moving average price is $64.17 and its 200-day moving average price is $64.38. 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 (NYSE:BMO) last released its quarterly earnings data on Tuesday, August 23rd. The company reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.11. The firm earned $5.63 billion during the quarter, compared to analyst estimates of $3.88 billion. Bank Of Montreal had a return on equity of 12.66% and a net margin of 17.82%. The business’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.86 earnings per share.

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

A number of institutional investors have recently bought and sold shares of BMO. CIBC World Markets Inc. boosted its position in 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. boosted its position in 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 during the last quarter. Bank of Montreal Can acquired a new position in Bank Of Montreal during the second quarter worth about $980,506,000. Capital Research Global Investors boosted its position in 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 during the last quarter. Finally, Vanguard Group Inc. boosted its position in 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 during the last quarter. Institutional investors own 47.95% of the company’s stock.

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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