Bank Of Montreal (BMO) Expected to Post Earnings of $1.60 Per Share
Equities analysts predict that Bank Of Montreal (NYSE:BMO) (TSE:BMO) will announce earnings of $1.60 per share for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Bank Of Montreal’s earnings, with the lowest EPS estimate coming in at $1.59 and the highest estimate coming in at $1.62. Bank Of Montreal also posted earnings of $1.60 per share in the same quarter last year. The firm is expected to issue its next quarterly earnings report on Tuesday, December 5th.
According to Zacks, analysts expect that Bank Of Montreal will report full year earnings of $6.42 per share for the current fiscal year, with EPS estimates ranging from $6.41 to $6.44. For the next year, analysts anticipate that the business will post earnings of $6.68 per share, with EPS estimates ranging from $6.62 to $6.72. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Bank Of Montreal.
Bank Of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings data on Tuesday, August 29th. The bank reported $1.53 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.57 by ($0.04). Bank Of Montreal had a net margin of 20.04% and a return on equity of 14.36%. The company had revenue of $5.46 billion for the quarter, compared to the consensus estimate of $5.52 billion. During the same period last year, the business earned $1.94 EPS. The firm’s quarterly revenue was down 3.1% on a year-over-year basis.
A number of analysts have weighed in on the company. Zacks Investment Research upgraded Bank Of Montreal from a “sell” rating to a “hold” rating in a report on Tuesday, June 20th. Canaccord Genuity started coverage on Bank Of Montreal in a report on Tuesday, July 18th. They issued a “hold” rating on the stock. BidaskClub raised Bank Of Montreal from a “hold” rating to a “buy” rating in a research report on Tuesday, July 4th. Finally, Scotiabank reissued a “buy” rating and issued a $101.00 price target on shares of Bank Of Montreal in a research report on Wednesday, August 30th. Eight analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $97.20.
Bank Of Montreal (NYSE BMO) opened at 76.21 on Tuesday. Bank Of Montreal has a 52 week low of $62.32 and a 52 week high of $78.00. The firm’s 50-day moving average price is $73.95 and its 200-day moving average price is $72.86. The stock has a market cap of $49.46 billion, a PE ratio of 11.40 and a beta of 1.04.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 28th. Investors of record on Wednesday, November 1st will be paid a dividend of $0.717 per share. This represents a $2.87 annualized dividend and a yield of 3.76%. This is an increase from Bank Of Montreal’s previous quarterly dividend of $0.66. The ex-dividend date is Tuesday, October 31st. Bank Of Montreal’s payout ratio is 46.91%.
Bank Of Montreal announced that its board has approved a stock buyback program on Friday, June 23rd that authorizes the company to buyback 4,000,000 shares. This buyback authorization authorizes the bank to purchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.
Institutional investors and hedge funds have recently made changes to their positions in the company. Bronfman E.L. Rothschild L.P. increased its position in shares of Bank Of Montreal by 1.1% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,392 shares of the bank’s stock valued at $102,000 after acquiring an additional 15 shares during the period. Advisory Services Network LLC raised its stake in Bank Of Montreal by 409.1% in the 2nd quarter. Advisory Services Network LLC now owns 1,568 shares of the bank’s stock worth $115,000 after acquiring an additional 1,260 shares during the last quarter. IFP Advisors Inc raised its stake in Bank Of Montreal by 11.5% in the 2nd quarter. IFP Advisors Inc now owns 1,604 shares of the bank’s stock worth $118,000 after acquiring an additional 166 shares during the last quarter. BNP Paribas Arbitrage SA acquired a new stake in Bank Of Montreal during the 1st quarter worth about $121,000. Finally, Parallel Advisors LLC lifted its position in Bank Of Montreal by 5.0% during the 1st quarter. Parallel Advisors LLC now owns 2,071 shares of the bank’s stock worth $145,000 after acquiring an additional 99 shares during the period. 42.74% of the stock is currently owned by hedge funds and other institutional investors.
Bank Of Montreal Company Profile
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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