Bank of Montreal (TSE:BMO) (NYSE:BMO) – Equities researchers at Cormark cut their Q1 2019 earnings estimates for Bank of Montreal in a research note issued to investors on Tuesday, December 4th. Cormark analyst M. Grauman now expects that the bank will post earnings of $2.26 per share for the quarter, down from their prior estimate of $2.27. Cormark has a “Market Perform” rating and a $109.00 price target on the stock. Cormark also issued estimates for Bank of Montreal’s Q2 2019 earnings at $2.45 EPS, Q3 2019 earnings at $2.59 EPS, Q4 2019 earnings at $2.55 EPS, Q1 2020 earnings at $2.42 EPS, Q2 2020 earnings at $2.63 EPS, Q3 2020 earnings at $2.74 EPS and Q4 2020 earnings at $2.72 EPS.
BMO has been the subject of several other reports. Eight Capital increased their target price on shares of Bank of Montreal from C$119.00 to C$124.00 in a research note on Wednesday, August 29th. CIBC upped their price target on shares of Bank of Montreal from C$109.00 to C$111.00 in a research report on Wednesday, August 29th. Royal Bank of Canada upped their price objective on shares of Bank of Montreal from C$124.00 to C$126.00 and gave the company an “outperform” rating in a research note on Wednesday, August 29th. National Bank Financial upped their price objective on shares of Bank of Montreal from C$108.00 to C$115.00 and gave the company an “outperform” rating in a research note on Wednesday, August 29th. Finally, Canaccord Genuity upgraded shares of Bank of Montreal from a “hold” rating to a “buy” rating and increased their price target for the stock from C$111.00 to C$118.00 in a research note on Wednesday, August 29th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Bank of Montreal presently has an average rating of “Buy” and a consensus price target of C$112.27.
TSE BMO opened at C$93.90 on Wednesday. Bank of Montreal has a 52 week low of C$92.64 and a 52 week high of C$109.00.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 26th. Investors of record on Friday, February 1st will be paid a dividend of $1.00 per share. This is a positive change from Bank of Montreal’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Thursday, January 31st. This represents a $4.00 annualized dividend and a yield of 4.26%. Bank of Montreal’s dividend payout ratio (DPR) is presently 50.28%.
In related news, insider Jean-Michel Ares sold 57,356 shares of Bank of Montreal stock in a transaction that occurred on Friday, September 21st. The shares were sold at an average price of C$108.46, for a total transaction of C$6,220,831.76.
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, 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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