Brokers Offer Predictions for Bank Of Montreal’s Q3 2017 Earnings (BMO)
Bank Of Montreal (NYSE:BMO) (TSE:BMO) – Stock analysts at Cormark lifted their Q3 2017 earnings per share (EPS) estimates for shares of Bank Of Montreal in a research report issued to clients and investors on Tuesday. Cormark analyst M. Grauman now expects that the bank will post earnings of $1.60 per share for the quarter, up from their previous forecast of $1.54. Cormark also issued estimates for Bank Of Montreal’s FY2017 earnings at $6.35 EPS and FY2018 earnings at $6.49 EPS.
Several other equities analysts also recently commented on the company. BidaskClub downgraded Bank Of Montreal from a “hold” rating to a “sell” rating in a research report on Saturday, August 12th. Zacks Investment Research upgraded Bank Of Montreal from a “hold” rating to a “buy” rating and set a $85.00 target price for the company in a research report on Tuesday, July 18th. Canaccord Genuity assumed coverage on Bank Of Montreal in a research report on Tuesday, July 18th. They set a “hold” rating for the company. TD Securities upgraded Bank Of Montreal from a “hold” rating to a “buy” rating in a research report on Thursday, June 1st. They noted that the move was a valuation call. Finally, Royal Bank Of Canada cut their target price on Bank Of Montreal to $108.00 and set a “sector perform” rating for the company in a research report on Thursday, May 25th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the stock. Bank Of Montreal presently has an average rating of “Hold” and an average price target of $88.38.
Bank Of Montreal (BMO) opened at 72.36 on Wednesday. The company has a market capitalization of $47.18 billion, a P/E ratio of 11.42 and a beta of 1.02. The company’s 50-day moving average price is $74.99 and its 200-day moving average price is $73.41. Bank Of Montreal has a 52 week low of $62.32 and a 52 week high of $78.00.
Bank Of Montreal (NYSE:BMO) (TSE:BMO) last issued its quarterly earnings data on Wednesday, May 24th. The bank reported $1.45 EPS for the quarter, topping the Zacks’ consensus estimate of $1.40 by $0.05. The firm had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.26 billion. Bank Of Montreal had a return on equity of 14.25% and a net margin of 19.60%. The firm’s revenue was up 12.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.73 EPS.
Institutional investors have recently modified their holdings of the stock. State Street Corp increased its position in shares of Bank Of Montreal by 85.2% in the fourth quarter. State Street Corp now owns 39,089 shares of the bank’s stock valued at $2,810,000 after buying an additional 17,977 shares during the last quarter. CGOV Asset Management increased its position in shares of Bank Of Montreal by 13.1% in the first quarter. CGOV Asset Management now owns 8,627 shares of the bank’s stock valued at $857,000 after buying an additional 1,000 shares during the last quarter. Reliance Trust Co. of Delaware increased its position in shares of Bank Of Montreal by 14.5% in the first quarter. Reliance Trust Co. of Delaware now owns 15,385 shares of the bank’s stock valued at $1,151,000 after buying an additional 1,947 shares during the last quarter. Patten & Patten Inc. TN acquired a new position in shares of Bank Of Montreal during the first quarter valued at about $204,000. Finally, Boston Advisors LLC increased its position in shares of Bank Of Montreal by 1.7% in the first quarter. Boston Advisors LLC now owns 14,766 shares of the bank’s stock valued at $1,104,000 after buying an additional 250 shares during the last quarter. Hedge funds and other institutional investors own 48.44% of the company’s stock.
Bank Of Montreal declared that its Board of Directors has initiated a stock buyback plan on Thursday, April 27th that allows the company to repurchase 15,000,000 shares. This repurchase authorization allows the bank to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 28th. Shareholders of record on Tuesday, August 1st will be given a $0.6616 dividend. The ex-dividend date is Friday, July 28th. This represents a $2.65 annualized dividend and a yield of 3.66%. Bank Of Montreal’s payout ratio is 46.18%.
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.
Receive News & Stock Ratings for Bank Of Montreal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank Of Montreal and related stocks with our FREE daily email newsletter.