Bank of Montreal (NYSE:BMO) (TSE:BMO) – Investment analysts at National Bank Financial boosted their Q1 2020 earnings per share estimates for shares of Bank of Montreal in a research note issued on Tuesday, December 3rd. National Bank Financial analyst G. Dechaine now expects that the bank will post earnings of $1.76 per share for the quarter, up from their previous forecast of $1.74. National Bank Financial also issued estimates for Bank of Montreal’s Q3 2020 earnings at $1.90 EPS, FY2020 earnings at $7.41 EPS and FY2021 earnings at $7.79 EPS.
BMO has been the topic of a number of other reports. ValuEngine raised shares of Bank of Montreal from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Oppenheimer raised shares of Bank of Montreal from a “neutral” rating to an “outperform” rating in a report on Wednesday. Credit Suisse Group raised shares of Bank of Montreal from an “underperform” rating to a “neutral” rating and set a $93.00 price objective on the stock in a report on Friday, September 6th. CIBC raised shares of Bank of Montreal from a “neutral” rating to a “buy” rating and set a $109.00 price objective on the stock in a report on Tuesday. Finally, Scotiabank reissued a “hold” rating on shares of Bank of Montreal in a report on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the stock. Bank of Montreal presently has a consensus rating of “Hold” and a consensus target price of $99.25.
Bank of Montreal (NYSE:BMO) (TSE:BMO) last announced its quarterly earnings data on Tuesday, December 3rd. The bank reported $2.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.61. The firm had revenue of $6.09 billion for the quarter, compared to analyst estimates of $5.86 billion. Bank of Montreal had a net margin of 16.48% and a return on equity of 14.14%. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the company earned $2.32 earnings per share.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Monday, February 3rd will be issued a $0.7965 dividend. This represents a $3.19 annualized dividend and a yield of 4.24%. This is a positive change from Bank of Montreal’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Friday, January 31st. Bank of Montreal’s dividend payout ratio is presently 44.78%.
A number of large investors have recently bought and sold shares of the business. Great West Life Assurance Co. Can purchased a new position in Bank of Montreal in the 2nd quarter valued at approximately $429,662,000. Canada Pension Plan Investment Board raised its stake in Bank of Montreal by 225.9% during the 2nd quarter. Canada Pension Plan Investment Board now owns 2,047,600 shares of the bank’s stock worth $155,002,000 after acquiring an additional 1,419,400 shares in the last quarter. MUFG Securities EMEA plc acquired a new stake in Bank of Montreal during the 2nd quarter worth $80,914,000. Prudential PLC raised its stake in Bank of Montreal by 2,231.2% during the 2nd quarter. Prudential PLC now owns 885,963 shares of the bank’s stock worth $66,911,000 after acquiring an additional 847,959 shares in the last quarter. Finally, Alberta Investment Management Corp raised its stake in Bank of Montreal by 96.6% during the 3rd quarter. Alberta Investment Management Corp now owns 1,618,700 shares of the bank’s stock worth $119,300,000 after acquiring an additional 795,400 shares in the last quarter. 42.09% of the stock is currently owned by institutional investors.
About Bank of Montreal
Bank of Montreal provides diversified financial services primarily in North America. It operates through three groups: Personal and Commercial Banking, Wealth Management, and BMO Capital Markets. The company's personal banking products and services include checking and savings accounts, credit cards, mortgages, and financial and investment advice services; and commercial banking products and services comprise business deposit accounts, commercial credit cards, business loans and commercial mortgages, cash management solutions, foreign exchange, and specialized banking programs for small business and commercial banking customers, as well as wealth management products and services, such as insurance products.
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