FY2017 Earnings Estimate for Bank of Montreal Issued By Cormark (BMO)
Bank of Montreal (TSE:BMO) (NYSE:BMO) – Analysts at Cormark boosted their FY2017 earnings estimates for Bank of Montreal in a research note issued on Wednesday. Cormark analyst M. Grauman now forecasts that the bank will post earnings of $8.05 per share for the year, up from their previous forecast of $8.04. Cormark also issued estimates for Bank of Montreal’s FY2018 earnings at $8.27 EPS.
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Several other brokerages have also issued reports on BMO. Barclays PLC upgraded shares of Bank of Montreal from an “underweight” rating to an “equal weight” rating in a research note on Tuesday, May 23rd. Scotiabank lowered their price objective on shares of Bank of Montreal from C$107.00 to C$104.00 and set an “outperform” rating on the stock in a research note on Thursday, May 25th. CIBC lowered their price objective on shares of Bank of Montreal from C$109.00 to C$105.00 in a research note on Thursday, May 25th. TD Securities lowered their price objective on shares of Bank of Montreal from C$110.00 to C$105.00 and set a “hold” rating on the stock in a research note on Thursday, May 25th. Finally, Royal Bank Of Canada lowered their price objective on shares of Bank of Montreal from C$110.00 to C$108.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 25th. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of C$100.00.
Bank of Montreal (TSE BMO) opened at 89.61 on Friday. The firm has a market capitalization of $60.63 billion and a P/E ratio of 10.96. The firm’s 50-day moving average is $93.91 and its 200 day moving average is $96.32. Bank of Montreal has a 52-week low of $83.43 and a 52-week high of $104.15.
In other Bank of Montreal news, insider David Robert Casper sold 17,005 shares of the business’s stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of C$93.36, for a total value of C$1,587,586.80. Also, Director La Flèche Eric Richer acquired 2,000 shares of the business’s stock in a transaction on Monday, June 19th. The stock was acquired at an average cost of C$93.82 per share, with a total value of C$187,640.00.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 28th. Investors of record on Wednesday, November 1st will be paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 4.02%.
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 companys personal banking products and services include checking and savings accounts, credit cards, mortgages, creditor insurance, and financial and investment advice; 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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