Wall Street brokerages expect Bank of Montreal (NYSE:BMO) (TSE:BMO) to announce sales of $4.41 billion for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Bank of Montreal’s earnings. The highest sales estimate is $4.57 billion and the lowest is $4.25 billion. Bank of Montreal posted sales of $4.53 billion in the same quarter last year, which suggests a negative year over year growth rate of 2.6%. The business is expected to announce its next quarterly earnings report on Tuesday, December 4th.

According to Zacks, analysts expect that Bank of Montreal will report full year sales of $17.22 billion for the current fiscal year, with estimates ranging from $16.69 billion to $17.75 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $17.98 billion, with estimates ranging from $17.33 billion to $18.64 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Bank of Montreal.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last announced its quarterly earnings results on Tuesday, August 28th. The bank reported $1.82 EPS for the quarter, topping the consensus estimate of $1.75 by $0.07. The business had revenue of $4.51 billion for the quarter, compared to analysts’ expectations of $4.45 billion. Bank of Montreal had a net margin of 16.17% and a return on equity of 14.75%.

BMO has been the topic of several research analyst reports. Royal Bank of Canada upgraded shares of Bank of Montreal from a “sector perform” rating to an “outperform” rating and set a $120.00 price target on the stock in a research note on Wednesday, July 18th. BMO Capital Markets upgraded shares of Bank of Montreal to a “$78.97” rating in a research report on Wednesday, July 18th. Zacks Investment Research cut shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research report on Monday, August 13th. Finally, Canaccord Genuity upgraded shares of Bank of Montreal from a “hold” rating to a “buy” rating in a research report on Wednesday, August 29th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $101.00.

BMO stock traded down $0.28 during mid-day trading on Friday, hitting $78.92. The company had a trading volume of 1,209,234 shares, compared to its average volume of 414,432. The stock has a market cap of $52.81 billion, a P/E ratio of 12.65, a PEG ratio of 1.44 and a beta of 1.09. Bank of Montreal has a 12-month low of $73.79 and a 12-month high of $84.71. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.14.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 27th. Stockholders of record on Thursday, November 1st will be given a dividend of $0.7386 per share. This represents a $2.95 annualized dividend and a dividend yield of 3.74%. The ex-dividend date of this dividend is Wednesday, October 31st. Bank of Montreal’s dividend payout ratio is 47.28%.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Beutel Goodman & Co Ltd. grew its holdings in Bank of Montreal by 5,646.1% during the 2nd quarter. Beutel Goodman & Co Ltd. now owns 6,276,187 shares of the bank’s stock valued at $485,226,000 after purchasing an additional 6,166,961 shares during the last quarter. Toronto Dominion Bank grew its holdings in Bank of Montreal by 43.0% during the 2nd quarter. Toronto Dominion Bank now owns 13,516,956 shares of the bank’s stock valued at $1,048,839,000 after purchasing an additional 4,067,728 shares during the last quarter. Mainstay Capital Management LLC ADV grew its holdings in Bank of Montreal by 3,415.9% during the 2nd quarter. Mainstay Capital Management LLC ADV now owns 882,094 shares of the bank’s stock valued at $12,154,000 after purchasing an additional 857,005 shares during the last quarter. CIBC World Markets Inc. grew its holdings in Bank of Montreal by 7.2% during the 1st quarter. CIBC World Markets Inc. now owns 12,418,594 shares of the bank’s stock valued at $938,473,000 after purchasing an additional 831,633 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in Bank of Montreal by 89.6% during the 2nd quarter. Renaissance Technologies LLC now owns 909,295 shares of the bank’s stock valued at $70,268,000 after purchasing an additional 429,800 shares during the last quarter. Hedge funds and other institutional investors own 43.11% of the company’s stock.

About Bank of Montreal

Bank of Montreal provides diversified financial services primarily in North America. It operates through three groups: Personal and Commercial Banking, Wealth Management, and BMO Capital Markets. The company's personal banking products and services include checking and savings accounts, credit cards, mortgages, creditor insurance products, and financial and investment advice services; and commercial banking products and services comprise business deposit accounts, commercial credit cards, business loans and commercial mortgages, cash management solutions, foreign exchange, and specialized banking programs for small business and commercial banking customers.

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

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