Cormark Weighs in on Bank of Montreal’s Q4 2018 Earnings (BMO)
Bank of Montreal (TSE:BMO) (NYSE:BMO) – Cormark lowered their Q4 2018 EPS estimates for Bank of Montreal in a research report issued on Tuesday, August 28th. Cormark analyst M. Grauman now anticipates that the bank will earn $2.39 per share for the quarter, down from their previous forecast of $2.46. Cormark also issued estimates for Bank of Montreal’s Q1 2019 earnings at $2.25 EPS.
Several other research analysts have also recently issued reports on the stock. Royal Bank of Canada lifted their target price on shares of Bank of Montreal from C$117.00 to C$120.00 and gave the stock a “sector perform” rating in a report on Thursday, May 31st. Citigroup lifted their target price on shares of Bank of Montreal from C$116.00 to C$120.00 in a report on Friday, June 1st. National Bank Financial raised shares of Bank of Montreal from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from C$106.00 to C$108.00 in a report on Thursday, May 31st. Barclays lifted their target price on shares of Bank of Montreal from C$101.00 to C$107.00 in a report on Thursday, May 31st. Finally, Eight Capital lifted their target price on shares of Bank of Montreal from C$109.00 to C$114.00 in a report on Thursday, May 31st. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of C$112.00.
Bank of Montreal (TSE:BMO) (NYSE:BMO) last issued its quarterly earnings results on Wednesday, May 30th. The bank reported C$2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$2.15 by C$0.05. Bank of Montreal had a net margin of 17.14% and a return on equity of 9.46%. The company had revenue of C$5.62 billion during the quarter, compared to analysts’ expectations of C$5.52 billion.
In other news, insider Cameron Mcaskile Fowler sold 19,010 shares of the business’s stock in a transaction that occurred on Tuesday, June 26th. The shares were sold at an average price of C$102.24, for a total transaction of C$1,943,582.40. Also, insider Joanna Michelle Rotenberg sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 12th. The shares were sold at an average price of C$101.75, for a total transaction of C$305,250.00. Insiders have sold 117,198 shares of company stock valued at $11,932,764 over the last three months.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 27th. Stockholders of record on Thursday, November 1st will be issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 3.61%.
Bank of Montreal Company Profile
Bank of Montreal provides diversified financial services primarily in North America. It operates through three groups: Personal and Commercial Banking, Wealth Management, and BMO Capital Markets. The company's personal banking products and services include checking and savings accounts, credit cards, mortgages, creditor insurance products, and financial and investment advice services; and commercial banking products and services comprise business deposit accounts, commercial credit cards, business loans and commercial mortgages, cash management solutions, foreign exchange, and specialized banking programs for small business and commercial banking customers.
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