Bank of Montreal (TSE:BMO) (NYSE:BMO) – National Bank Financial increased their Q3 2018 EPS estimates for shares of Bank of Montreal in a report released on Thursday. National Bank Financial analyst G. Dechaine now forecasts that the bank will post earnings per share of $2.22 for the quarter, up from their previous forecast of $2.17. National Bank Financial has a “Sector Perform” rating and a $106.00 price objective on the stock. National Bank Financial also issued estimates for Bank of Montreal’s FY2018 earnings at $8.61 EPS and FY2019 earnings at $9.18 EPS.
Bank of Montreal (TSE:BMO) (NYSE:BMO) last announced its quarterly earnings data on Tuesday, December 5th. The bank reported C$1.94 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of C$1.99 by C($0.05). Bank of Montreal had a net margin of 25.41% and a return on equity of 13.54%.
Several other brokerages also recently commented on BMO. 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. Scotiabank lifted their target price on Bank of Montreal from C$112.00 to C$114.00 and gave the stock an “outperform” rating in a report on Wednesday, December 6th. Royal Bank of Canada lifted their target price on Bank of Montreal from C$108.00 to C$116.00 and gave the stock a “sector perform” rating in a report on Wednesday, December 6th. Eight Capital lifted their target price on Bank of Montreal from C$101.00 to C$106.00 in a report on Wednesday, December 6th. Finally, CSFB lifted their target price on Bank of Montreal from C$102.00 to C$103.00 in a report on Wednesday, December 6th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of C$106.25.
Shares of Bank of Montreal (BMO) traded up C$0.36 during trading on Monday, hitting C$102.78. The stock had a trading volume of 840,436 shares, compared to its average volume of 1,195,797. Bank of Montreal has a fifty-two week low of C$88.63 and a fifty-two week high of C$104.15. The stock has a market capitalization of $66,580.00, a P/E ratio of 12.98 and a beta of 0.71.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 27th. Stockholders of record on Thursday, February 1st will be issued a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 3.62%. This is a boost from Bank of Montreal’s previous quarterly dividend of $0.90. The ex-dividend date is Wednesday, January 31st. Bank of Montreal’s payout ratio is 44.95%.
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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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