Bank of Montreal Forecasted to Post Q1 2019 Earnings of $1.80 Per Share (BMO)
Bank of Montreal (NYSE:BMO) (TSE:BMO) – Equities researchers at Desjardins issued their Q1 2019 earnings per share (EPS) estimates for shares of Bank of Montreal in a research note issued on Tuesday, December 4th. Desjardins analyst D. Young anticipates that the bank will post earnings per share of $1.80 for the quarter. Desjardins also issued estimates for Bank of Montreal’s Q2 2019 earnings at $1.79 EPS, Q3 2019 earnings at $1.86 EPS and FY2020 earnings at $7.71 EPS.
Several other research analysts also recently weighed in on the company. Barclays reaffirmed a “hold” rating on shares of Bank of Montreal in a research note on Tuesday. 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 note on Wednesday. Canaccord Genuity reaffirmed a “buy” rating on shares of Bank of Montreal in a research note on Tuesday. TD Securities downgraded Bank of Montreal from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Zacks Investment Research raised Bank of Montreal from a “sell” rating to a “hold” rating in a research note on Friday, November 30th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $106.00.
Bank of Montreal (NYSE:BMO) (TSE:BMO) last announced its quarterly earnings results on Tuesday, December 4th. The bank reported $2.32 earnings per share (EPS) for the quarter, beating the Zacks’ 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 company had revenue of $5.92 billion during the quarter, compared to the consensus estimate of $5.61 billion. During the same period in the previous year, the company posted $1.94 earnings per share. Bank of Montreal’s revenue for the quarter was up 4.7% on a year-over-year basis.
Several hedge funds have recently made changes to their positions in BMO. BDO Wealth Advisors LLC acquired a new position in shares of Bank of Montreal during the 2nd quarter worth approximately $105,000. Cornerstone Wealth Management LLC acquired a new position in shares of Bank of Montreal during the 3rd quarter worth approximately $142,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in shares of Bank of Montreal during the second quarter worth approximately $155,000. Columbia Asset Management purchased a new stake in shares of Bank of Montreal during the third quarter worth approximately $161,000. Finally, Zions Bancorporation purchased a new stake in shares of Bank of Montreal during the third quarter worth approximately $175,000. 43.89% of the stock is owned by institutional investors and hedge funds.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 26th. Stockholders of record on Friday, February 1st will be paid a dividend of $0.753 per share. This represents a $3.01 annualized dividend and a dividend yield of 4.29%. This is an increase from Bank of Montreal’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend is Thursday, January 31st. Bank of Montreal’s dividend payout ratio is presently 41.77%.
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, 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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