FY2024 EPS Estimates for Bank of Montreal Raised by Cormark

Bank of Montreal (TSE:BMO) (NYSE:BMO) – Equities researchers at Cormark increased their FY2024 earnings estimates for shares of Bank of Montreal in a report issued on Monday, November 25th. Cormark analyst L. Persaud now anticipates that the bank will post earnings of $10.21 per share for the year, up from their previous forecast of $10.16. The consensus estimate for Bank of Montreal’s current full-year earnings is $9.65 per share. Cormark also issued estimates for Bank of Montreal’s Q4 2024 earnings at $2.42 EPS and FY2025 earnings at $11.25 EPS.

A number of other research analysts also recently commented on BMO. Desjardins lowered their target price on Bank of Montreal from C$125.00 to C$120.00 and set a “hold” rating for the company in a research report on Wednesday, August 28th. TD Securities increased their price objective on shares of Bank of Montreal from C$114.00 to C$131.00 in a research report on Friday, November 15th. Bank of America cut shares of Bank of Montreal from a “buy” rating to a “neutral” rating and decreased their target price for the company from C$134.00 to C$117.00 in a research report on Wednesday, August 28th. National Bankshares lifted their price target on Bank of Montreal from C$127.00 to C$148.00 in a research report on Wednesday, November 20th. Finally, Jefferies Financial Group cut their target price on Bank of Montreal from C$141.00 to C$124.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of C$128.50.

Bank of Montreal Price Performance

TSE BMO opened at C$133.30 on Wednesday. Bank of Montreal has a 1-year low of C$108.32 and a 1-year high of C$134.16. The business has a 50 day simple moving average of C$127.16 and a two-hundred day simple moving average of C$121.41. The stock has a market capitalization of C$97.23 billion, a PE ratio of 15.34, a P/E/G ratio of 0.71 and a beta of 1.16.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last posted its earnings results on Tuesday, August 27th. The bank reported C$2.64 EPS for the quarter, missing analysts’ consensus estimates of C$2.72 by C($0.08). Bank of Montreal had a return on equity of 8.49% and a net margin of 21.20%. The firm had revenue of C$8.19 billion during the quarter, compared to analysts’ expectations of C$8.23 billion.

Bank of Montreal Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Tuesday, November 26th were given a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 4.65%. The ex-dividend date was Wednesday, October 30th. Bank of Montreal’s dividend payout ratio is currently 71.35%.

Insider Transactions at Bank of Montreal

In other news, Senior Officer Steven Lloyd Tennyson sold 7,908 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of C$112.16, for a total value of C$886,977.10. Also, Senior Officer David Robert Casper sold 12,819 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of C$121.85, for a total value of C$1,562,007.97. Corporate insiders own 0.03% of the company’s stock.

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.