Bank of Montreal (BMO) Releases Earnings Results, Misses Expectations By $0.02 EPS

Bank of Montreal (TSE:BMO) (NYSE:BMO) released its earnings results on Wednesday, May 24th. The bank reported $1.92 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.94 by $0.02, Yahoo Finance reports. Bank of Montreal had a return on equity of 12.21% and a net margin of 21.74%. The company had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.44 billion.

Bank of Montreal (BMO) traded up 0.02% on Friday, reaching $92.96. The company’s stock had a trading volume of 5,588,657 shares. The firm’s 50 day moving average price is $93.35 and its 200-day moving average price is $97.29. Bank of Montreal has a 1-year low of $79.82 and a 1-year high of $104.15. The company has a market capitalization of $60.61 billion and a price-to-earnings ratio of 11.69.

The company also recently announced a quarterly dividend, which will be paid on Monday, August 28th. Shareholders of record on Tuesday, August 1st will be issued a $0.90 dividend. This is an increase from Bank of Montreal’s previous quarterly dividend of $0.88. This represents a $3.60 dividend on an annualized basis and a yield of 3.87%.

In other news, Director Ron Farmer acquired 2,000 shares of Bank of Montreal stock in a transaction that occurred on Monday, May 29th. The stock was purchased at an average price of C$91.24 per share, for a total transaction of C$182,480.00. Also, insider Gilles Gerard Ouellette sold 38,412 shares of the firm’s stock in a transaction dated Monday, March 20th. The shares were sold at an average price of C$100.50, for a total transaction of C$3,860,406.00. Insiders have sold 53,663 shares of company stock valued at $5,258,043 in the last quarter.

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Several equities research analysts have commented on BMO shares. Scotiabank boosted their target price on Bank of Montreal from C$108.00 to C$113.00 and gave the stock an “outperform” rating in a report on Wednesday, March 1st. CIBC boosted their target price on Bank of Montreal from C$101.00 to C$104.00 in a report on Wednesday, March 1st. TD Securities reissued a “hold” rating and issued a C$105.00 target price on shares of Bank of Montreal in a report on Wednesday, March 1st. Royal Bank of Canada boosted their target price on Bank of Montreal from C$106.00 to C$110.00 and gave the stock a “sector perform” rating in a report on Wednesday, March 1st. Finally, National Bank Financial upped their price target on Bank of Montreal from C$104.00 to C$107.00 in a report on Wednesday, March 1st. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of C$99.43.

Bank of Montreal Company Profile

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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