FY2024 EPS Estimates for Bank of Montreal (NYSE:BMO) Decreased by Desjardins

Bank of Montreal (NYSE:BMOFree Report) (TSE:BMO) – Research analysts at Desjardins dropped their FY2024 earnings per share (EPS) estimates for shares of Bank of Montreal in a research note issued to investors on Tuesday, February 6th. Desjardins analyst D. Young now expects that the bank will post earnings of $8.95 per share for the year, down from their prior forecast of $9.02. The consensus estimate for Bank of Montreal’s current full-year earnings is $9.15 per share.

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

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

Check Out Our Latest Research Report on BMO

Bank of Montreal Stock Performance

Shares of BMO opened at $92.64 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a 50 day moving average price of $94.22 and a two-hundred day moving average price of $87.09. The firm has a market capitalization of $67.20 billion, a P/E ratio of 22.16, a P/E/G ratio of 1.50 and a beta of 1.15. Bank of Montreal has a 52 week low of $73.98 and a 52 week high of $102.00.

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 paid a $1.1137 dividend. This represents a $4.45 dividend on an annualized basis and a dividend yield of 4.81%. 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. Bank of Montreal’s payout ratio is presently 103.59%.

Hedge Funds Weigh In On Bank of Montreal

A number of hedge funds and other institutional investors have recently modified their holdings of BMO. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Bank of Montreal by 3.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 7,432 shares of the bank’s stock worth $877,000 after buying an additional 219 shares during the last quarter. BlackRock Inc. grew its holdings in Bank of Montreal by 5.5% during the first quarter. BlackRock Inc. now owns 426,005 shares of the bank’s stock valued at $50,256,000 after purchasing an additional 22,030 shares during the period. Sequoia Financial Advisors LLC bought a new position in Bank of Montreal during the first quarter valued at $225,000. Vanguard Group Inc. grew its holdings in Bank of Montreal by 6.1% during the first quarter. Vanguard Group Inc. now owns 22,478,058 shares of the bank’s stock valued at $2,651,736,000 after purchasing an additional 1,293,280 shares during the period. Finally, USS Investment Management Ltd grew its holdings in Bank of Montreal by 2.1% during the first quarter. USS Investment Management Ltd now owns 145,939 shares of the bank’s stock valued at $17,199,000 after purchasing an additional 3,071 shares during the period. Hedge funds and other 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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