Bank of Montreal to Post FY2018 Earnings of $8.45 Per Share, Desjardins Forecasts (BMO)
Bank of Montreal (TSE:BMO) (NYSE:BMO) – Investment analysts at Desjardins upped their FY2018 earnings per share (EPS) estimates for shares of Bank of Montreal in a note issued to investors on Tuesday. Desjardins analyst D. Young now expects that the bank will earn $8.45 per share for the year, up from their prior estimate of $8.43. Desjardins also issued estimates for Bank of Montreal’s FY2019 earnings at $8.95 EPS.
Several other research firms also recently issued reports on BMO. Scotiabank lifted their price target on Bank of Montreal from C$112.00 to C$114.00 and gave the stock an “outperform” rating in a research note on Wednesday. Royal Bank Of Canada lifted their price target on Bank of Montreal from C$108.00 to C$116.00 and gave the stock a “sector perform” rating in a research note on Wednesday. National Bank Financial lifted their price target on Bank of Montreal from C$100.00 to C$103.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Eight Capital lifted their price target on Bank of Montreal from C$101.00 to C$106.00 in a research note on Wednesday. Finally, CSFB lifted their price target on Bank of Montreal from C$102.00 to C$103.00 in a research note on Wednesday. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Bank of Montreal has an average rating of “Hold” and a consensus target price of C$104.58.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 27th. Investors of record on Thursday, February 1st will be paid a $0.93 dividend. This is an increase from Bank of Montreal’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Wednesday, January 31st. This represents a $3.72 annualized dividend and a yield of 3.70%. Bank of Montreal’s payout ratio is presently 44.44%.
In other news, insider Joanna Michelle Rotenberg sold 4,250 shares of the company’s stock in a transaction dated Thursday, September 21st. The shares were sold at an average price of C$93.00, for a total transaction of C$395,250.00.
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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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