Bank of Montreal (NYSE:BMO) (TSE:BMO) – Equities research analysts at Desjardins issued their Q1 2018 earnings per share (EPS) estimates for shares of Bank of Montreal in a research note issued to investors on Friday. Desjardins analyst D. Young expects that the bank will earn $1.67 per share for the quarter. Desjardins also issued estimates for Bank of Montreal’s FY2018 earnings at $6.94 EPS and FY2019 earnings at $7.29 EPS.
A number of other brokerages have also issued reports on BMO. Macquarie raised Bank of Montreal from a “neutral” rating to an “outperform” rating in a research note on Thursday. Zacks Investment Research raised Bank of Montreal from a “hold” rating to a “buy” rating and set a $87.00 price target on the stock in a research note on Tuesday, February 6th. Canaccord Genuity reaffirmed a “hold” rating and issued a $105.00 price target on shares of Bank of Montreal in a research note on Tuesday, December 5th. Finally, Scotiabank reaffirmed a “buy” rating and issued a $112.00 price target on shares of Bank of Montreal in a research note on Wednesday, November 22nd. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $98.60.
Bank of Montreal (NYSE:BMO) (TSE:BMO) last issued its quarterly earnings results on Tuesday, December 5th. The bank reported $1.55 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.58 by ($0.03). The firm had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.25 billion. Bank of Montreal had a return on equity of 14.11% and a net margin of 19.00%.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 27th. Investors of record on Thursday, February 1st will be given a dividend of $0.733 per share. This is an increase from Bank of Montreal’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Wednesday, January 31st. This represents a $2.93 dividend on an annualized basis and a yield of 3.77%. Bank of Montreal’s dividend payout ratio (DPR) is presently 46.43%.
A number of institutional investors have recently made changes to their positions in BMO. Motco purchased a new position in Bank of Montreal during the third quarter worth approximately $108,000. Advisory Services Network LLC lifted its position in Bank of Montreal by 409.1% during the second quarter. Advisory Services Network LLC now owns 1,568 shares of the bank’s stock worth $115,000 after buying an additional 1,260 shares in the last quarter. Sei Investments Co. lifted its position in Bank of Montreal by 6,400.0% during the third quarter. Sei Investments Co. now owns 2,015 shares of the bank’s stock worth $174,000 after buying an additional 1,984 shares in the last quarter. Zions Bancorporation lifted its position in Bank of Montreal by 3,656.5% during the third quarter. Zions Bancorporation now owns 2,329 shares of the bank’s stock worth $176,000 after buying an additional 2,267 shares in the last quarter. Finally, Icon Wealth Partners LLC purchased a new position in Bank of Montreal during the fourth quarter worth approximately $195,000. Hedge funds and other institutional investors own 42.87% of the company’s stock.
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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