Bank of Montreal (NYSE:BMO) (TSE:BMO) – Research analysts at Cormark boosted their Q1 2018 earnings per share (EPS) estimates for Bank of Montreal in a research report issued to clients and investors on Friday, according to Zacks Investment Research. Cormark analyst M. Grauman now anticipates that the bank will earn $1.64 per share for the quarter, up from their prior forecast of $1.57. Cormark also issued estimates for Bank of Montreal’s FY2018 earnings at $7.06 EPS and FY2019 earnings at $7.59 EPS.
Bank of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly earnings data on Tuesday, February 27th. The bank reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.02. The business had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.45 billion. Bank of Montreal had a return on equity of 13.85% and a net margin of 16.69%. The business’s revenue for the quarter was up .4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.28 EPS.
Bank of Montreal (NYSE:BMO) traded up $0.33 during mid-day trading on Monday, hitting $75.96. The stock had a trading volume of 394,745 shares, compared to its average volume of 476,541. The firm has a market cap of $49,270.00, a P/E ratio of 13.81, a price-to-earnings-growth ratio of 1.62 and a beta of 1.08. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.17. Bank of Montreal has a 1-year low of $66.75 and a 1-year high of $84.71.
A number of institutional investors have recently made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. boosted its position in Bank of Montreal by 21.2% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 17,847 shares of the bank’s stock worth $1,428,000 after purchasing an additional 3,126 shares during the period. Elkfork Partners LLC purchased a new stake in Bank of Montreal during the 4th quarter worth $155,000. Envestnet Asset Management Inc. boosted its position in Bank of Montreal by 5.6% during the 4th quarter. Envestnet Asset Management Inc. now owns 15,359 shares of the bank’s stock worth $1,229,000 after purchasing an additional 814 shares during the period. Letko Brosseau & Associates Inc. boosted its position in Bank of Montreal by 1.2% during the 4th quarter. Letko Brosseau & Associates Inc. now owns 5,235,486 shares of the bank’s stock worth $420,318,000 after purchasing an additional 64,400 shares during the period. Finally, OLD Mutual Customised Solutions Proprietary Ltd. boosted its position in Bank of Montreal by 40.9% during the 4th quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 39,633 shares of the bank’s stock worth $3,182,000 after purchasing an additional 11,500 shares during the period. 45.84% of the stock is owned by hedge funds and other institutional investors.
The firm also recently declared a quarterly dividend, which will be paid on Monday, May 28th. Investors of record on Tuesday, May 1st will be given a dividend of $0.755 per share. This represents a $3.02 dividend on an annualized basis and a yield of 3.98%. This is a boost from Bank of Montreal’s previous quarterly dividend of $0.73. The ex-dividend date is Monday, April 30th. Bank of Montreal’s dividend payout ratio is 53.27%.
About Bank of Montreal
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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