Bank of Montreal (BMO) Expected to Earn Q1 2019 Earnings of $1.73 Per Share
Bank of Montreal (NYSE:BMO) (TSE:BMO) – Analysts at National Bank Financial cut their Q1 2019 earnings per share estimates for Bank of Montreal in a research note issued on Tuesday, December 4th. National Bank Financial analyst G. Dechaine now expects that the bank will post earnings per share of $1.73 for the quarter, down from their prior estimate of $1.74. National Bank Financial also issued estimates for Bank of Montreal’s Q2 2019 earnings at $1.60 EPS, FY2019 earnings at $7.24 EPS and FY2020 earnings at $7.65 EPS.
Several other research firms also recently weighed in on BMO. ValuEngine downgraded Bank of Montreal from a “hold” rating to a “sell” rating in a research report on Thursday, November 1st. Cormark downgraded Bank of Montreal from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $115.00 to $109.00 in a research report on Wednesday. Zacks Investment Research downgraded Bank of Montreal from a “buy” rating to a “hold” rating in a research report on Tuesday, October 30th. Barclays reiterated a “hold” rating on shares of Bank of Montreal in a research report on Tuesday. Finally, Canaccord Genuity reiterated a “buy” rating on shares of Bank of Montreal in a research report on Thursday, November 22nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $106.00.
Bank of Montreal (NYSE:BMO) (TSE:BMO) last released its earnings results on Tuesday, December 4th. The bank reported $2.32 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.75 by $0.57. Bank of Montreal had a return on equity of 15.14% and a net margin of 16.91%. The firm had revenue of $5.92 billion for the quarter, compared to the consensus estimate of $5.61 billion. During the same period in the prior year, the business posted $1.94 earnings per share. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BMO. BDO Wealth Advisors LLC purchased a new position in Bank of Montreal during the second quarter worth about $105,000. Cornerstone Wealth Management LLC acquired a new stake in Bank of Montreal during the third quarter worth about $142,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in Bank of Montreal during the second quarter worth about $155,000. Columbia Asset Management acquired a new stake in Bank of Montreal during the third quarter worth about $161,000. Finally, Zions Bancorporation acquired a new stake in Bank of Montreal during the third quarter worth about $175,000. Hedge funds and other institutional investors own 43.89% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 26th. Investors of record on Friday, February 1st will be given a dividend of $0.753 per share. The ex-dividend date is Thursday, January 31st. This is an increase from Bank of Montreal’s previous quarterly dividend of $0.74. This represents a $3.01 annualized dividend and a yield of 4.19%. Bank of Montreal’s dividend payout ratio is 41.77%.
Bank of Montreal Company Profile
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, creditor insurance products, 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.
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