Brokers Set Expectations for Bank of Montreal’s Q1 2019 Earnings (BMO)
Bank of Montreal (NYSE:BMO) (TSE:BMO) – Investment analysts at Desjardins reduced their Q1 2019 earnings per share (EPS) estimates for Bank of Montreal in a research note issued on Tuesday, February 5th. Desjardins analyst D. Young now anticipates that the bank will post earnings of $1.73 per share for the quarter, down from their prior forecast of $1.80. Desjardins currently has a “Hold” rating on the stock.
Several other research firms also recently issued reports on BMO. ValuEngine downgraded Bank of Montreal from a “hold” rating to a “sell” rating in a research note on Thursday, November 1st. Cormark downgraded Bank of Montreal from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $115.00 to $109.00 in a research note on Wednesday, December 5th. Zacks Investment Research downgraded Bank of Montreal from a “buy” rating to a “hold” rating in a research note on Tuesday, October 30th. Barclays reaffirmed a “hold” rating on shares of Bank of Montreal in a research note on Tuesday, December 4th. Finally, TD Securities reaffirmed a “hold” rating on shares of Bank of Montreal in a research note on Monday, December 10th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $103.33.
Bank of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly earnings results on Tuesday, December 4th. The bank reported $2.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.57. The business had revenue of $5.92 billion during the quarter, compared to the consensus estimate of $5.61 billion. Bank of Montreal had a return on equity of 14.97% and a net margin of 16.91%. The business’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.94 EPS.
Several large investors have recently added to or reduced their stakes in BMO. Gantzert Investment Co. LLC ADV acquired a new position in Bank of Montreal in the 4th quarter valued at about $31,000. Financial Gravity Companies Inc. acquired a new position in Bank of Montreal in the 4th quarter valued at about $37,000. Heritage Trust Co acquired a new position in Bank of Montreal in the 4th quarter valued at about $41,000. Lindbrook Capital LLC acquired a new position in Bank of Montreal in the 4th quarter valued at about $46,000. Finally, Country Trust Bank acquired a new position in Bank of Montreal in the 4th quarter valued at about $52,000. 44.06% of the stock is owned by institutional investors and hedge funds.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 26th. Stockholders of record on Friday, February 1st will be paid a dividend of $0.753 per share. This represents a $3.01 annualized dividend and a dividend yield of 4.12%. The ex-dividend date is Thursday, January 31st. This is an increase from Bank of Montreal’s previous quarterly dividend of $0.74. Bank of Montreal’s payout ratio is 43.63%.
About Bank of Montreal
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, 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, as well as wealth management products and services, such as insurance products.
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