Desjardins Comments on Bank of Montreal’s Q1 2024 Earnings (NYSE:BMO)

Bank of Montreal (NYSE:BMOFree Report) (TSE:BMO) – Stock analysts at Desjardins decreased their Q1 2024 EPS estimates for Bank of Montreal in a research report issued to clients and investors on Tuesday, February 6th. Desjardins analyst D. Young now expects that the bank will earn $2.19 per share for the quarter, down from their previous forecast of $2.26. The consensus estimate for Bank of Montreal’s current full-year earnings is $9.15 per share. Desjardins also issued estimates for Bank of Montreal’s FY2025 earnings at $9.62 EPS.

Bank of Montreal (NYSE:BMOGet Free Report) (TSE:BMO) last announced its earnings results on Friday, December 1st. The bank reported $2.07 EPS for the quarter, hitting the consensus estimate of $2.07. The business had revenue of $6.16 billion during the quarter. Bank of Montreal had a net margin of 6.41% and a return on equity of 12.55%.

BMO has been the topic of several other research reports. StockNews.com upgraded Bank of Montreal from a “sell” rating to a “hold” rating in a research note on Wednesday, January 31st. Bank of America raised shares of Bank of Montreal from a “neutral” rating to a “buy” rating in a research report on Monday, December 18th. Finally, National Bank Financial upgraded shares of Bank of Montreal from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, December 20th.

Read Our Latest Stock Analysis on Bank of Montreal

Bank of Montreal Price Performance

Shares of BMO opened at $91.76 on Thursday. The company has a market cap of $66.56 billion, a price-to-earnings ratio of 21.95, a PEG ratio of 1.51 and a beta of 1.15. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.12. The company’s fifty day simple moving average is $93.86 and its 200 day simple moving average is $87.07. Bank of Montreal has a 1-year low of $73.98 and a 1-year high of $102.79.

Bank of Montreal Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 27th. Shareholders of record on Tuesday, January 30th will be given a dividend of $1.1137 per share. This is a boost from Bank of Montreal’s previous quarterly dividend of $1.11. The ex-dividend date is Monday, January 29th. This represents a $4.45 annualized dividend and a yield of 4.85%. Bank of Montreal’s dividend payout ratio (DPR) is presently 103.59%.

Hedge Funds Weigh In On Bank of Montreal

A number of hedge funds have recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC boosted its position in shares of Bank of Montreal by 6.4% during the 2nd quarter. Quadrant Capital Group LLC now owns 1,914 shares of the bank’s stock worth $173,000 after acquiring an additional 115 shares in the last quarter. Schechter Investment Advisors LLC lifted its position in shares of Bank of Montreal by 3.8% during the 4th quarter. Schechter Investment Advisors LLC now owns 3,161 shares of the bank’s stock worth $313,000 after buying an additional 116 shares during the last quarter. Capital World Investors boosted its stake in Bank of Montreal by 1.3% in the second quarter. Capital World Investors now owns 9,621 shares of the bank’s stock valued at $869,000 after buying an additional 119 shares in the last quarter. Smith Moore & CO. grew its position in Bank of Montreal by 4.7% in the second quarter. Smith Moore & CO. now owns 2,658 shares of the bank’s stock valued at $240,000 after acquiring an additional 120 shares during the last quarter. Finally, Vident Investment Advisory LLC raised its stake in Bank of Montreal by 1.7% during the first quarter. Vident Investment Advisory LLC now owns 7,472 shares of the bank’s stock worth $877,000 after acquiring an additional 122 shares in the last quarter. Institutional investors own 43.89% of the company’s stock.

Bank of Montreal Company Profile

(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.

Further Reading

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

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