Bank of Montreal (TSE:BMO) (NYSE:BMO) – Investment analysts at National Bank Financial cut their Q2 2019 earnings per share (EPS) estimates for Bank of Montreal in a research note issued on Tuesday, December 4th. National Bank Financial analyst G. Dechaine now expects that the bank will earn $2.11 per share for the quarter, down from their previous forecast of $2.14. National Bank Financial currently has a “Outperform” rating and a $114.00 target price on the stock. National Bank Financial also issued estimates for Bank of Montreal’s FY2019 earnings at $9.52 EPS and FY2020 earnings at $10.07 EPS.
Several other equities research analysts have also recently issued reports on the stock. Cormark cut shares of Bank of Montreal from a “buy” rating to a “market perform” rating and lowered their target price for the stock from C$115.00 to C$109.00 in a research note on Thursday. Eight Capital cut shares of Bank of Montreal from a “buy” rating to a “neutral” rating and lowered their target price for the stock from C$124.00 to C$117.00 in a research note on Wednesday. TD Securities cut shares of Bank of Montreal from a “buy” rating to a “hold” rating and lowered their target price for the stock from C$120.00 to C$110.00 in a research note on Wednesday. Barclays lowered their target price on shares of Bank of Montreal from C$105.00 to C$103.00 in a research note on Wednesday. Finally, Canaccord Genuity lowered their price target on shares of Bank of Montreal from C$118.00 to C$111.00 in a research report on Thursday, November 22nd. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of C$112.27.
Shares of BMO opened at C$92.71 on Thursday. Bank of Montreal has a 52-week low of C$92.32 and a 52-week high of C$109.00.
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 given a dividend of $1.00 per share. This is a boost from Bank of Montreal’s previous quarterly dividend of $0.96. The ex-dividend date is Thursday, January 31st. This represents a $4.00 annualized dividend and a dividend yield of 4.31%. Bank of Montreal’s payout ratio is presently 50.28%.
In other news, insider Jean-Michel Ares sold 57,356 shares of the business’s stock in a transaction dated 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.
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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