Equities Analysts Set Expectations for Bank of Montreal’s FY2024 Earnings (TSE:BMO)

Bank of Montreal (TSE:BMO) (NYSE:BMO) – Investment analysts at Cormark dropped their FY2024 earnings estimates for Bank of Montreal in a report released on Wednesday, May 22nd. Cormark analyst L. Persaud now expects that the bank will post earnings per share of $11.23 for the year, down from their previous forecast of $11.37. The consensus estimate for Bank of Montreal’s current full-year earnings is $11.26 per share. Cormark also issued estimates for Bank of Montreal’s FY2025 earnings at $12.46 EPS.

BMO has been the subject of several other reports. Jefferies Financial Group increased their price objective on Bank of Montreal from C$136.00 to C$142.00 in a report on Monday, May 13th. Royal Bank of Canada lowered their price target on Bank of Montreal from C$134.00 to C$130.00 and set an “outperform” rating for the company in a research note on Wednesday, February 28th. Desjardins cut their price objective on shares of Bank of Montreal from C$135.00 to C$133.00 and set a “buy” rating on the stock in a research report on Wednesday, February 28th. CIBC decreased their target price on shares of Bank of Montreal from C$125.00 to C$120.00 and set a “neutral” rating for the company in a research report on Friday, March 8th. Finally, TD Securities cut their price target on shares of Bank of Montreal from C$145.00 to C$142.00 in a report on Friday, May 10th. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Bank of Montreal has an average rating of “Moderate Buy” and a consensus target price of C$133.33.

Bank of Montreal Stock Up 0.1 %

Shares of TSE:BMO opened at C$129.34 on Thursday. The firm has a fifty day moving average of C$128.39 and a two-hundred day moving average of C$124.69. Bank of Montreal has a 12-month low of C$102.67 and a 12-month high of C$133.95. The firm has a market capitalization of C$93.83 billion, a P/E ratio of 17.82, a price-to-earnings-growth ratio of 0.54 and a beta of 1.18.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last posted its quarterly earnings results on Tuesday, February 27th. The bank reported C$2.56 EPS for the quarter, missing the consensus estimate of C$3.03 by C($0.47). The company had revenue of C$7.67 billion for the quarter, compared to analyst estimates of C$8.57 billion. Bank of Montreal had a return on equity of 7.28% and a net margin of 17.71%.

Insider Transactions at Bank of Montreal

In related news, Senior Officer Nadim Hirji sold 2,882 shares of the company’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of C$130.46, for a total transaction of C$375,985.72. In other Bank of Montreal news, Director Darrel Hackett sold 3,297 shares of Bank of Montreal stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of C$91.76, for a total transaction of C$302,532.72. Also, Senior Officer Nadim Hirji sold 2,882 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of C$130.46, for a total transaction of C$375,985.72. 0.03% of the stock is currently owned by corporate insiders.

Bank of Montreal Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Monday, April 29th will be given a $1.51 dividend. The ex-dividend date of this dividend is Friday, April 26th. This represents a $6.04 annualized dividend and a dividend yield of 4.67%. Bank of Montreal’s dividend payout ratio is 83.20%.

Bank of Montreal Company Profile

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.