Bank of Montreal (TSE:BMO) (NYSE:BMO) – Cormark raised their Q1 2018 earnings estimates for shares of Bank of Montreal in a research note issued on Friday. Cormark analyst M. Grauman now expects that the bank will post earnings of $2.05 per share for the quarter, up from their previous forecast of $1.99. Cormark also issued estimates for Bank of Montreal’s FY2018 earnings at $8.83 EPS and FY2019 earnings at $9.49 EPS.
Bank of Montreal (TSE:BMO) (NYSE:BMO) last announced its quarterly earnings data on Tuesday, December 5th. The bank reported C$1.94 EPS for the quarter, missing the consensus estimate of C$1.99 by C($0.05). Bank of Montreal had a net margin of 21.70% and a return on equity of 12.00%. The business had revenue of C$5.66 billion for the quarter, compared to analyst estimates of C$5.31 billion.
Several other equities analysts have also weighed in on BMO. Macquarie raised shares of Bank of Montreal from a “neutral” rating to an “outperform” rating and lifted their target price for the company from C$105.00 to C$107.00 in a report on Thursday. Royal Bank of Canada lifted their target price on shares of Bank of Montreal from C$113.00 to C$115.00 in a report on Wednesday, February 14th. CSFB lifted their target price on shares of Bank of Montreal from C$102.00 to C$103.00 in a report on Wednesday, December 6th. Canaccord Genuity lifted their target price on shares of Bank of Montreal from C$103.00 to C$105.00 in a report on Wednesday, December 6th. Finally, National Bank Financial lifted their target price on shares of Bank of Montreal from C$100.00 to C$103.00 and gave the company a “sector perform” rating in a report on Wednesday, December 6th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of C$106.54.
Shares of Bank of Montreal (TSE:BMO) opened at C$97.61 on Monday. Bank of Montreal has a 12 month low of C$88.63 and a 12 month high of C$105.55. The company has a market cap of $63,270.00, a P/E ratio of 12.32 and a beta of 0.67.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 27th. Stockholders of record on Thursday, February 1st will be issued a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 3.81%. This is a positive change from Bank of Montreal’s previous quarterly dividend of $0.90. The ex-dividend date is Wednesday, January 31st. Bank of Montreal’s payout ratio is 44.95%.
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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.
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