Bank of Montreal (TSE:BMO) (NYSE:BMO) – Equities researchers at National Bank Financial upped their Q1 2020 earnings per share (EPS) estimates for shares of Bank of Montreal in a research note issued to investors on Tuesday, February 11th. National Bank Financial analyst G. Dechaine now forecasts that the bank will post earnings of $2.36 per share for the quarter, up from their previous forecast of $2.35. National Bank Financial currently has a “Outperform” rating and a $109.00 target price on the stock. National Bank Financial also issued estimates for Bank of Montreal’s Q2 2020 earnings at $2.44 EPS and Q3 2020 earnings at $2.52 EPS.
Bank of Montreal (TSE:BMO) (NYSE:BMO) last released its earnings results on Tuesday, December 3rd. The bank reported C$2.43 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of C$2.40 by C$0.03. The business had revenue of C$6.09 billion for the quarter, compared to the consensus estimate of C$5.84 billion.
Several other research firms have also commented on BMO. CIBC increased their target price on shares of Bank of Montreal from C$105.00 to C$107.00 in a report on Thursday, November 21st. Royal Bank of Canada reduced their target price on shares of Bank of Montreal from C$111.00 to C$109.00 and set an “outperform” rating on the stock in a report on Wednesday, December 4th. Desjardins reaffirmed a “hold” rating and set a C$105.00 target price on shares of Bank of Montreal in a report on Tuesday, November 5th. Finally, Scotiabank increased their target price on shares of Bank of Montreal from C$106.00 to C$107.00 in a report on Wednesday, November 20th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of C$106.18.
BMO stock opened at C$101.81 on Thursday. Bank of Montreal has a 52 week low of C$88.24 and a 52 week high of C$106.51. The firm’s fifty day moving average is C$102.12 and its 200 day moving average is C$98.58. The firm has a market cap of $65.04 billion and a P/E ratio of 11.76.
In other Bank of Montreal news, Senior Officer Richard D. Rudderham sold 313 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of C$104.47, for a total value of C$32,699.11. Also, Senior Officer Mona Elizabeth Malone sold 5,347 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of C$101.22, for a total transaction of C$541,234.03. Following the completion of the sale, the insider now directly owns 1,164 shares in the company, valued at approximately C$117,822.41.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Monday, February 3rd will be issued a $1.06 dividend. This represents a $4.24 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date of this dividend is Friday, January 31st. This is a positive change from Bank of Montreal’s previous quarterly dividend of $1.03. Bank of Montreal’s dividend payout ratio (DPR) is 46.88%.
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, 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, as well as wealth management products and services, such as insurance products.
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