Q1 2024 EPS Estimates for Bank of Montreal Cut by Analyst (NYSE:BMO)

Bank of Montreal (NYSE:BMOFree Report) (TSE:BMO) – Research analysts at Desjardins cut their Q1 2024 EPS estimates for Bank of Montreal in a note issued to investors on Tuesday, February 6th. Desjardins analyst D. Young now forecasts that the bank will post earnings of $2.19 per share for the quarter, down from their prior 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 posted its quarterly earnings data on Friday, December 1st. The bank reported $2.07 EPS for the quarter, meeting analysts’ consensus estimates of $2.07. Bank of Montreal had a net margin of 6.41% and a return on equity of 12.55%. The company had revenue of $6.16 billion during the quarter.

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

Get Our Latest Analysis on Bank of Montreal

Bank of Montreal Stock Down 0.3 %

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

Bank of Montreal Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 27th. Stockholders of record on Tuesday, January 30th will be paid a $1.1137 dividend. The ex-dividend date of this dividend is Monday, January 29th. This is an increase from Bank of Montreal’s previous quarterly dividend of $1.11. This represents a $4.45 dividend on an annualized basis and a dividend yield of 4.85%. Bank of Montreal’s dividend payout ratio is 103.59%.

Institutional Trading of Bank of Montreal

Several hedge funds have recently added to or reduced their stakes in BMO. Avantax Advisory Services Inc. bought a new position in Bank of Montreal in the fourth quarter worth $239,000. Principal Financial Group Inc. lifted its holdings in shares of Bank of Montreal by 51.2% during the 4th quarter. Principal Financial Group Inc. now owns 25,200 shares of the bank’s stock worth $2,506,000 after acquiring an additional 8,528 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Bank of Montreal by 0.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,608,868 shares of the bank’s stock worth $357,061,000 after acquiring an additional 28,547 shares during the period. AGF Management Ltd. boosted its position in shares of Bank of Montreal by 31.5% during the 4th quarter. AGF Management Ltd. now owns 1,713,527 shares of the bank’s stock valued at $178,822,000 after acquiring an additional 410,428 shares in the last quarter. Finally, Canoe Financial LP increased its stake in Bank of Montreal by 300,456.3% in the fourth quarter. Canoe Financial LP now owns 105,510,305 shares of the bank’s stock valued at $10,439,190,000 after acquiring an additional 105,475,200 shares during the period. Institutional investors own 43.89% of the company’s stock.

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.

See Also

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

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