FY2024 EPS Forecast for Bank of Montreal Lifted by Analyst

Bank of Montreal (TSE:BMO - Free Report) NYSE: BMO - Stock analysts at Cormark increased their FY2024 earnings per share estimates for Bank of Montreal in a research note issued to investors on Monday, November 25th. Cormark analyst L. Persaud now expects that the bank will post earnings per share of $10.21 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.

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

Several other brokerages also recently issued reports on BMO. 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. Jefferies Financial Group cut their price objective on shares of Bank of Montreal from C$141.00 to C$124.00 and set a "buy" rating on the stock in a report on Monday, August 12th. 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 note on Wednesday, August 28th. Canaccord Genuity Group boosted their price target on Bank of Montreal from C$125.00 to C$143.00 in a research note on Tuesday, November 19th. Finally, Royal Bank of Canada lowered their price objective on Bank of Montreal from C$118.00 to C$106.00 and set a "sector perform" rating for the company in a research note on Wednesday, August 28th. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of C$128.50.

Bank of Montreal Stock Up 0.3 %

Shares of Bank of Montreal stock traded up C$0.46 during trading hours on Wednesday, hitting C$133.29. The company's stock had a trading volume of 143,156 shares, compared to its average volume of 2,907,286. The company has a market capitalization of C$97.22 billion, a PE ratio of 15.29, a P/E/G ratio of 0.71 and a beta of 1.16. The business has a fifty day moving average of C$126.52 and a 200 day moving average of C$121.25. Bank of Montreal has a 1-year low of C$107.16 and a 1-year high of C$134.16.

Bank of Montreal Dividend Announcement

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

Insider Activity at Bank of Montreal

In other Bank of Montreal news, Senior Officer David Robert Casper sold 12,819 shares of the firm's stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of C$121.85, for a total transaction of C$1,562,007.97. Also, Senior Officer Steven Lloyd Tennyson sold 7,908 shares of the firm'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. 0.03% of the stock is currently owned by company insiders.

About Bank of Montreal

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.