Bank of Montreal (NYSE:BMO) (TSE:BMO) – Stock analysts at National Bank Financial raised their Q3 2018 earnings estimates for shares of Bank of Montreal in a research note issued to investors on Thursday. National Bank Financial analyst G. Dechaine now expects that the bank will earn $1.78 per share for the quarter, up from their prior forecast of $1.71.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last announced its earnings results on Tuesday, December 5th. The bank reported $1.55 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.58 by ($0.03). Bank of Montreal had a return on equity of 14.11% and a net margin of 19.00%.

Several other brokerages have also recently commented on BMO. Zacks Investment Research cut shares of Bank of Montreal from a “buy” rating to a “hold” rating in a report on Tuesday, October 31st. Macquarie assumed coverage on shares of Bank of Montreal in a report on Tuesday, October 24th. They set a “neutral” rating and a $81.00 target price on the stock. Canaccord Genuity reiterated a “hold” rating and set a $105.00 price target on shares of Bank of Montreal in a research report on Tuesday, December 5th. Finally, Scotiabank reiterated a “buy” rating and set a $112.00 price target on shares of Bank of Montreal in a research report on Wednesday, November 22nd. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Bank of Montreal presently has an average rating of “Hold” and an average target price of $98.20.

Shares of Bank of Montreal (BMO) traded up $0.35 on Monday, hitting $82.09. 287,400 shares of the stock traded hands, compared to its average volume of 348,333. Bank of Montreal has a 12 month low of $66.75 and a 12 month high of $82.68. The company has a market capitalization of $53,900.00, a PE ratio of 12.89, a PEG ratio of 2.14 and a beta of 1.06. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 1.07.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 27th. Shareholders of record on Thursday, February 1st will be given a $0.733 dividend. The ex-dividend date is Wednesday, January 31st. This represents a $2.93 dividend on an annualized basis and a yield of 3.57%. This is a positive change from Bank of Montreal’s previous quarterly dividend of $0.72. Bank of Montreal’s dividend payout ratio (DPR) is currently 44.11%.

A number of institutional investors have recently modified their holdings of BMO. Vanguard Group Inc. lifted its holdings in shares of Bank of Montreal by 5.4% during the second quarter. Vanguard Group Inc. now owns 14,592,498 shares of the bank’s stock worth $1,071,673,000 after purchasing an additional 748,173 shares during the period. CIBC Asset Management Inc lifted its holdings in shares of Bank of Montreal by 32.5% during the third quarter. CIBC Asset Management Inc now owns 7,059,573 shares of the bank’s stock worth $532,857,000 after purchasing an additional 1,731,928 shares during the period. Great West Life Assurance Co. Can lifted its holdings in shares of Bank of Montreal by 6.8% during the third quarter. Great West Life Assurance Co. Can now owns 6,098,215 shares of the bank’s stock worth $460,556,000 after purchasing an additional 390,688 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Bank of Montreal by 1.1% during the third quarter. Dimensional Fund Advisors LP now owns 3,800,439 shares of the bank’s stock worth $287,731,000 after purchasing an additional 41,934 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Bank of Montreal by 13.6% during the second quarter. The Manufacturers Life Insurance Company now owns 3,134,272 shares of the bank’s stock worth $229,733,000 after purchasing an additional 374,747 shares during the period. Hedge funds and other institutional investors own 42.83% of the company’s stock.

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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.

Earnings History and Estimates for Bank of Montreal (NYSE:BMO)

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