Cormark Equities Analysts Reduce Earnings Estimates for BMO

Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO - Stock analysts at Cormark decreased their FY2024 earnings estimates for shares of Bank of Montreal in a research report issued to clients and investors on Monday, November 25th. Cormark analyst L. Persaud now forecasts that the bank will earn $7.35 per share for the year, down from their previous estimate of $7.52. The consensus estimate for Bank of Montreal's current full-year earnings is $7.40 per share. Cormark also issued estimates for Bank of Montreal's FY2025 earnings at $8.10 EPS and FY2026 earnings at $9.13 EPS.

Bank of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last announced its quarterly earnings data on Tuesday, August 27th. The bank reported $2.64 EPS for the quarter, missing analysts' consensus estimates of $2.76 by ($0.12). Bank of Montreal had a return on equity of 11.23% and a net margin of 8.50%. The company had revenue of $8.21 billion for the quarter, compared to analysts' expectations of $8.25 billion. During the same quarter in the previous year, the business posted $2.08 EPS. The business's quarterly revenue was up .2% compared to the same quarter last year.

BMO has been the subject of a number of other reports. Scotiabank downgraded Bank of Montreal from a "sector outperform" rating to a "sector perform" rating and cut their price objective for the stock from $123.00 to $112.00 in a research report on Wednesday, August 28th. Barclays decreased their price objective on shares of Bank of Montreal from $132.00 to $126.00 and set an "overweight" rating on the stock in a report on Wednesday, August 28th. StockNews.com downgraded shares of Bank of Montreal from a "hold" rating to a "sell" rating in a report on Thursday, August 29th. Jefferies Financial Group cut Bank of Montreal from a "buy" rating to a "hold" rating in a research note on Tuesday, August 27th. Finally, TD Securities cut Bank of Montreal from a "buy" rating to a "hold" rating in a research note on Tuesday, August 27th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $119.75.

Bank of Montreal Trading Down 1.2 %

BMO traded down $1.17 during trading hours on Tuesday, reaching $94.40. The company's stock had a trading volume of 409,263 shares, compared to its average volume of 891,377. The stock has a market cap of $68.87 billion, a PE ratio of 14.87, a P/E/G ratio of 2.57 and a beta of 1.10. Bank of Montreal has a fifty-two week low of $76.98 and a fifty-two week high of $100.12. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.98 and a quick ratio of 0.98. The business's 50-day moving average is $92.18 and its 200-day moving average is $88.24.

Hedge Funds Weigh In On Bank of Montreal

A number of institutional investors and hedge funds have recently modified their holdings of BMO. Strategic Investment Solutions Inc. IL acquired a new position in shares of Bank of Montreal in the 2nd quarter valued at $34,000. Rothschild Investment LLC acquired a new stake in shares of Bank of Montreal during the second quarter worth about $40,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Bank of Montreal in the 3rd quarter valued at about $45,000. GHP Investment Advisors Inc. boosted its position in shares of Bank of Montreal by 244.1% in the 3rd quarter. GHP Investment Advisors Inc. now owns 554 shares of the bank's stock valued at $50,000 after purchasing an additional 393 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its stake in Bank of Montreal by 34.6% in the first quarter. EverSource Wealth Advisors LLC now owns 623 shares of the bank's stock valued at $56,000 after buying an additional 160 shares during the last quarter. Institutional investors and hedge funds own 45.82% 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.