FY2022 EPS Estimates for Bank of Montreal (NYSE:BMO) Cut by Desjardins

Bank of Montreal (NYSE:BMOGet Rating) (TSE:BMO) – Stock analysts at Desjardins dropped their FY2022 earnings per share estimates for Bank of Montreal in a research report issued to clients and investors on Wednesday, May 25th. Desjardins analyst D. Young now expects that the bank will post earnings per share of $10.45 for the year, down from their prior forecast of $10.49. Desjardins also issued estimates for Bank of Montreal’s FY2023 earnings at $11.27 EPS.

Several other equities research analysts have also commented on the stock. Barclays upped their price target on shares of Bank of Montreal from C$167.00 to C$171.00 and gave the company an “overweight” rating in a report on Wednesday, March 2nd. Credit Suisse Group assumed coverage on shares of Bank of Montreal in a research note on Friday, May 20th. They set an “outperform” rating on the stock. Stifel Nicolaus lowered their target price on shares of Bank of Montreal from C$172.00 to C$171.00 and set a “buy” rating on the stock in a research note on Friday, April 8th. Zacks Investment Research lowered shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research note on Tuesday, April 26th. Finally, Scotiabank raised shares of Bank of Montreal from a “sector perform” rating to a “sector outperform” rating and increased their target price for the stock from $165.00 to $169.00 in a research note on Wednesday, March 2nd. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Bank of Montreal currently has an average rating of “Buy” and an average price target of $156.00.

NYSE:BMO opened at $105.78 on Friday. Bank of Montreal has a one year low of $95.37 and a one year high of $122.77. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market cap of $71.05 billion, a price-to-earnings ratio of 10.21, a PEG ratio of 1.42 and a beta of 1.19. The firm’s fifty day moving average is $111.04 and its two-hundred day moving average is $111.88.

Bank of Montreal (NYSE:BMOGet Rating) (TSE:BMO) last posted its quarterly earnings results on Wednesday, May 25th. The bank reported $3.23 EPS for the quarter, beating the consensus estimate of $2.60 by $0.63. Bank of Montreal had a net margin of 26.09% and a return on equity of 17.71%. The company had revenue of $9.32 billion for the quarter, compared to analyst estimates of $6.69 billion. During the same period in the prior year, the company earned $2.49 earnings per share. The firm’s revenue was up 53.3% on a year-over-year basis.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 26th. Investors of record on Tuesday, August 2nd will be paid a $1.081 dividend. The ex-dividend date is Monday, August 1st. This is a positive change from Bank of Montreal’s previous quarterly dividend of $1.05. This represents a $4.32 dividend on an annualized basis and a yield of 4.09%. Bank of Montreal’s dividend payout ratio (DPR) is currently 41.02%.

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Bank of Montreal by 6.1% in the 1st quarter. Vanguard Group Inc. now owns 22,478,058 shares of the bank’s stock valued at $2,651,736,000 after acquiring an additional 1,293,280 shares during the last quarter. TD Asset Management Inc. raised its holdings in Bank of Montreal by 1.0% in the 1st quarter. TD Asset Management Inc. now owns 15,195,564 shares of the bank’s stock valued at $1,789,696,000 after acquiring an additional 143,188 shares during the last quarter. Mackenzie Financial Corp raised its holdings in Bank of Montreal by 17.4% in the 1st quarter. Mackenzie Financial Corp now owns 11,425,357 shares of the bank’s stock valued at $1,346,567,000 after acquiring an additional 1,690,617 shares during the last quarter. Toronto Dominion Bank raised its holdings in Bank of Montreal by 1.8% in the 4th quarter. Toronto Dominion Bank now owns 7,592,699 shares of the bank’s stock valued at $817,941,000 after acquiring an additional 136,276 shares during the last quarter. Finally, 1832 Asset Management L.P. raised its holdings in Bank of Montreal by 32.1% in the 1st quarter. 1832 Asset Management L.P. now owns 7,194,489 shares of the bank’s stock valued at $836,145,000 after acquiring an additional 1,749,146 shares during the last quarter. 39.47% of the stock is currently owned by hedge funds and other institutional investors.

About Bank of Montreal (Get Rating)

Bank of Montreal provides diversified financial services primarily in North America. 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, specialized banking programs, treasury and payment solutions, and risk management products for small business and commercial banking customers.

See Also

Earnings History and Estimates for Bank of Montreal (NYSE:BMO)

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