Cormark Analysts Lift Earnings Estimates for Bank Of Montreal (BMO)
Bank Of Montreal (NYSE:BMO) (TSE:BMO) – Equities research analysts at Cormark increased their Q3 2017 EPS estimates for shares of Bank Of Montreal in a research report issued to clients and investors on Tuesday. Cormark analyst M. Grauman now expects that the bank will post earnings of $1.60 per share for the quarter, up from their previous estimate of $1.54. Cormark also issued estimates for Bank Of Montreal’s FY2017 earnings at $6.35 EPS and FY2018 earnings at $6.49 EPS.
Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly earnings data on Wednesday, May 24th. The bank reported $1.45 EPS for the quarter, beating the consensus estimate of $1.40 by $0.05. The business had revenue of $5.74 billion for the quarter, compared to the consensus estimate of $5.26 billion. Bank Of Montreal had a net margin of 19.60% and a return on equity of 14.25%. The business’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.73 EPS. WARNING: This piece was reported by Daily Political and is the sole property of of Daily Political. If you are accessing this piece on another publication, it was copied illegally and reposted in violation of US & international copyright legislation. The original version of this piece can be read at https://www.dailypolitical.com/2017/08/16/cormark-analysts-lift-earnings-estimates-for-bank-of-montreal-bmo.html.
A number of other brokerages have also issued reports on BMO. Citigroup Inc. upgraded shares of Bank Of Montreal from a “neutral” rating to a “buy” rating in a research report on Thursday, May 18th. BidaskClub lowered shares of Bank Of Montreal from a “hold” rating to a “sell” rating in a research report on Saturday. TD Securities upgraded shares of Bank Of Montreal from a “hold” rating to a “buy” rating in a research report on Thursday, June 1st. They noted that the move was a valuation call. Zacks Investment Research lowered shares of Bank Of Montreal from a “hold” rating to a “sell” rating in a research report on Thursday, May 25th. Finally, Barclays PLC upgraded shares of Bank Of Montreal from an “underweight” rating to an “equal weight” rating in a research report on Tuesday, May 23rd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the stock. Bank Of Montreal currently has an average rating of “Hold” and an average target price of $88.38.
Shares of Bank Of Montreal (NYSE:BMO) opened at 72.70 on Wednesday. The stock has a 50 day moving average of $74.98 and a 200 day moving average of $73.42. Bank Of Montreal has a 12-month low of $62.32 and a 12-month high of $78.00. The stock has a market capitalization of $47.40 billion, a P/E ratio of 11.48 and a beta of 1.02.
Bank Of Montreal announced that its board has approved a share repurchase plan on Thursday, April 27th that allows the company to repurchase 15,000,000 shares. This repurchase authorization allows the bank to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 28th. Investors of record on Tuesday, August 1st will be given a $0.6616 dividend. The ex-dividend date of this dividend is Friday, July 28th. This represents a $2.65 dividend on an annualized basis and a yield of 3.64%. Bank Of Montreal’s dividend payout ratio (DPR) is 46.18%.
Institutional investors have recently bought and sold shares of the stock. Bronfman E.L. Rothschild L.P. raised its position in Bank Of Montreal by 1.1% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,392 shares of the bank’s stock worth $102,000 after buying an additional 15 shares during the period. IFP Advisors Inc increased its stake in Bank Of Montreal by 11.5% in the second quarter. IFP Advisors Inc now owns 1,604 shares of the bank’s stock worth $118,000 after buying an additional 166 shares during the period. BNP Paribas Arbitrage SA acquired a new stake in Bank Of Montreal during the first quarter worth approximately $121,000. Parallel Advisors LLC increased its stake in Bank Of Montreal by 5.0% in the first quarter. Parallel Advisors LLC now owns 2,071 shares of the bank’s stock worth $145,000 after buying an additional 99 shares during the period. Finally, Signature Estate & Investment Advisors LLC acquired a new stake in Bank Of Montreal during the first quarter worth approximately $150,000. Hedge funds and other institutional investors own 48.44% of the company’s stock.
Bank Of Montreal Company Profile
Bank of Montreal (the Bank) is a financial services provider. The Bank provides a range of personal and commercial banking, wealth management and investment banking products and services. The Bank conducts its business through three operating groups: Personal and Commercial Banking (P&C), Wealth Management and BMO Capital Markets.
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