Bank of Montreal to Post Q1 2024 Earnings of $2.96 Per Share, Desjardins Forecasts (TSE:BMO)

Bank of Montreal (TSE:BMOFree Report) (NYSE:BMO) – Investment analysts at Desjardins reduced their Q1 2024 earnings per share (EPS) estimates for shares of Bank of Montreal in a note issued to investors on Tuesday, February 6th. Desjardins analyst D. Young now expects that the bank will earn $2.96 per share for the quarter, down from their prior forecast of $3.09. Desjardins has a “Buy” rating and a $135.00 price target on the stock. The consensus estimate for Bank of Montreal’s current full-year earnings is $12.04 per share. Desjardins also issued estimates for Bank of Montreal’s FY2024 earnings at $12.10 EPS and FY2025 earnings at $13.00 EPS.

Bank of Montreal (TSE:BMOGet Free Report) (NYSE:BMO) last issued its quarterly earnings data on Friday, December 1st. The bank reported C$2.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$2.86 by C($0.05). The business had revenue of C$8.36 billion during the quarter. Bank of Montreal had a return on equity of 5.91% and a net margin of 15.04%.

BMO has been the subject of a number of other reports. Cormark decreased their price target on Bank of Montreal from C$128.00 to C$127.00 in a research note on Monday, December 4th. Keefe, Bruyette & Woods decreased their price target on Bank of Montreal from C$138.00 to C$128.00 and set an “outperform” rating for the company in a research note on Thursday, November 23rd. Scotiabank decreased their price target on Bank of Montreal from C$143.00 to C$135.00 and set an “outperform” rating for the company in a research note on Tuesday, November 21st. CIBC decreased their price target on Bank of Montreal from C$120.00 to C$115.00 and set a “neutral” rating for the company in a research note on Wednesday, November 22nd. Finally, Canaccord Genuity Group set a C$135.00 price objective on Bank of Montreal and gave the stock a “buy” rating in a research note on Monday, December 18th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$131.42.

Read Our Latest Stock Analysis on BMO

Bank of Montreal Stock Performance

Shares of TSE BMO opened at C$123.58 on Thursday. The stock has a fifty day moving average price of C$125.95 and a two-hundred day moving average price of C$117.69. The firm has a market cap of C$89.09 billion, a P/E ratio of 22.07, a PEG ratio of 1.49 and a beta of 1.17. Bank of Montreal has a 1 year low of C$102.67 and a 1 year high of C$137.64.

Bank of Montreal Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 27th. Stockholders of record on Tuesday, January 30th will be issued a $1.51 dividend. The ex-dividend date is Monday, January 29th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 4.89%. This is a positive change from Bank of Montreal’s previous quarterly dividend of $1.47. Bank of Montreal’s dividend payout ratio is presently 107.86%.

About Bank of Montreal

(Get Free Report)

Bank of Montreal provides diversified financial services primarily in North America. It operates through Canadian P&C, U.S P&C, BMO Wealth Management, and BMO Capital Markets segments. The company's personal banking products and services include deposits, mortgages, home lending, consumer credit, small business lending, credit cards, cash management, financial and investment advice, and other banking services; and commercial banking products and services comprise various of financing options and treasury and payment solutions, as well as risk management products.

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

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