FY2022 EPS Estimates for Bank of Montreal Reduced by Cormark (TSE:BMO)

Bank of Montreal (TSE:BMOGet Rating) (NYSE:BMO) – Stock analysts at Cormark dropped their FY2022 earnings per share estimates for shares of Bank of Montreal in a research report issued to clients and investors on Tuesday, November 22nd. Cormark analyst L. Persaud now forecasts that the bank will post earnings per share of $13.29 for the year, down from their previous estimate of $13.45. The consensus estimate for Bank of Montreal’s current full-year earnings is $14.21 per share. Cormark also issued estimates for Bank of Montreal’s FY2024 earnings at $14.99 EPS.

Bank of Montreal (TSE:BMOGet Rating) (NYSE:BMO) last announced its quarterly earnings data on Tuesday, August 30th. The bank reported C$3.09 earnings per share (EPS) for the quarter, beating the consensus estimate of C$3.06 by C$0.03. The company had revenue of C$6.10 billion during the quarter.

Several other equities analysts have also recently issued reports on the company. Veritas Investment Research cut Bank of Montreal from a “buy” rating to a “reduce” rating and set a C$134.00 price objective for the company. in a research note on Wednesday, August 31st. National Bankshares decreased their target price on Bank of Montreal from C$151.00 to C$147.00 in a research note on Friday, November 18th. Scotiabank decreased their target price on Bank of Montreal from C$159.00 to C$156.00 in a research note on Tuesday. CIBC decreased their target price on Bank of Montreal from C$143.00 to C$135.00 in a research note on Wednesday, September 7th. Finally, Canaccord Genuity Group decreased their target price on Bank of Montreal from C$152.50 to C$150.50 in a research note on Wednesday, August 31st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Bank of Montreal presently has a consensus rating of “Moderate Buy” and an average target price of C$152.34.

Bank of Montreal Stock Performance

Shares of BMO opened at C$132.37 on Thursday. The stock has a 50-day simple moving average of C$125.09 and a 200-day simple moving average of C$127.34. The stock has a market capitalization of C$89.27 billion and a PE ratio of 7.98. Bank of Montreal has a 1 year low of C$113.73 and a 1 year high of C$154.47.

Bank of Montreal Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 28th. Stockholders of record on Monday, November 28th will be issued a $1.39 dividend. This represents a $5.56 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date is Monday, October 31st. Bank of Montreal’s payout ratio is currently 30.64%.

About Bank of Montreal

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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 (TSE:BMO)

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