Brokers Issue Forecasts for Bank of Montreal’s Q4 2022 Earnings (NYSE:BMO)

Bank of Montreal (NYSE:BMOGet Rating) (TSE:BMO) – Cormark lowered their Q4 2022 earnings per share (EPS) estimates for Bank of Montreal in a research report issued on Tuesday, November 22nd. Cormark analyst L. Persaud now expects that the bank will earn $2.46 per share for the quarter, down from their previous forecast of $2.49. The consensus estimate for Bank of Montreal’s current full-year earnings is $10.04 per share. Cormark also issued estimates for Bank of Montreal’s FY2023 earnings at $11.57 EPS.

BMO has been the topic of several other reports. Desjardins dropped their target price on Bank of Montreal from C$153.00 to C$150.00 in a research report on Wednesday, August 31st. Royal Bank of Canada dropped their target price on Bank of Montreal from C$158.00 to C$151.00 in a research report on Wednesday, August 31st. StockNews.com began coverage on Bank of Montreal in a research report on Wednesday, October 12th. They issued a “sell” rating on the stock. Finally, BMO Capital Markets lowered Bank of Montreal from a “buy” rating to a “reduce” rating and dropped their target price for the stock from C$152.50 to C$150.50 in a research report on Wednesday, August 31st. Two analysts have rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $159.72.

Bank of Montreal Stock Up 0.7 %

NYSE:BMO opened at $99.38 on Thursday. The firm has a market capitalization of $67.31 billion, a price-to-earnings ratio of 7.52, a PEG ratio of 1.67 and a beta of 1.12. Bank of Montreal has a 1-year low of $81.57 and a 1-year high of $122.77. The company has a current ratio of 0.99, a quick ratio of 0.98 and a debt-to-equity ratio of 0.12. The business’s fifty day moving average price is $92.26 and its 200 day moving average price is $97.07.

Bank of Montreal (NYSE:BMOGet Rating) (TSE:BMO) last posted its quarterly earnings results on Tuesday, August 30th. The bank reported $2.40 earnings per share for the quarter, beating the consensus estimate of $2.38 by $0.02. The firm had revenue of $6.10 billion for the quarter, compared to analyst estimates of $6.87 billion. Bank of Montreal had a return on equity of 16.07% and a net margin of 30.66%. Bank of Montreal’s quarterly revenue was down 19.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.80 earnings per share.

Bank of Montreal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 28th. Stockholders of record on Tuesday, November 1st will be issued a dividend of $1.086 per share. This is a positive change from Bank of Montreal’s previous quarterly dividend of $1.08. The ex-dividend date of this dividend is Monday, October 31st. This represents a $4.34 dividend on an annualized basis and a dividend yield of 4.37%. Bank of Montreal’s dividend payout ratio is currently 30.89%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BMO. Money Concepts Capital Corp increased its holdings in shares of Bank of Montreal by 266.7% during the 2nd quarter. Money Concepts Capital Corp now owns 275 shares of the bank’s stock valued at $27,000 after acquiring an additional 200 shares during the last quarter. Guardian Wealth Advisors LLC bought a new stake in Bank of Montreal during the 3rd quarter valued at approximately $29,000. Daiwa Securities Group Inc. bought a new stake in Bank of Montreal during the 3rd quarter valued at approximately $30,000. Private Trust Co. NA bought a new stake in Bank of Montreal during the 2nd quarter valued at approximately $34,000. Finally, Hexagon Capital Partners LLC boosted its stake in Bank of Montreal by 103.5% during the 3rd quarter. Hexagon Capital Partners LLC now owns 403 shares of the bank’s stock valued at $35,000 after purchasing an additional 205 shares during the period. Institutional investors and hedge funds own 42.52% of the company’s stock.

Bank of Montreal Company Profile

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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.

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

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