Bank of Montreal (TSE:BMO) (NYSE:BMO) – Equities researchers at Cormark upped their Q1 2018 earnings per share (EPS) estimates for shares of Bank of Montreal in a report released on Friday. Cormark analyst M. Grauman now expects that the bank will earn $2.05 per share for the quarter, up from their prior estimate of $1.99. Cormark also issued estimates for Bank of Montreal’s FY2018 earnings at $8.83 EPS and FY2019 earnings at $9.49 EPS.
Several other brokerages have also recently issued reports on BMO. CSFB lifted their target price on Bank of Montreal from C$103.00 to C$107.00 in a research report on Friday, January 19th. Canaccord Genuity boosted their price objective on Bank of Montreal from C$103.00 to C$105.00 in a research report on Wednesday, December 6th. Scotiabank boosted their price objective on Bank of Montreal from C$112.00 to C$114.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 6th. National Bank Financial boosted their price objective on Bank of Montreal from C$103.00 to C$106.00 and gave the stock a “sector perform” rating in a research report on Friday, January 12th. Finally, Citigroup boosted their price objective on Bank of Montreal from C$112.00 to C$116.00 in a research report on Monday, December 18th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Bank of Montreal has a consensus rating of “Hold” and a consensus price target of C$106.54.
Bank of Montreal (TSE:BMO) (NYSE:BMO) last announced its earnings results on Tuesday, December 5th. The bank reported C$1.94 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of C$1.99 by C($0.05). The company had revenue of C$5.66 billion for the quarter, compared to analysts’ expectations of C$5.31 billion. Bank of Montreal had a net margin of 21.70% and a return on equity of 12.00%.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 27th. Shareholders of record on Thursday, February 1st will be given a $0.93 dividend. The ex-dividend date of this dividend is Wednesday, January 31st. This represents a $3.72 annualized dividend and a yield of 3.81%. This is a boost from Bank of Montreal’s previous quarterly dividend of $0.90. Bank of Montreal’s payout ratio is currently 44.95%.
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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