Bank of Montreal (BMO) Forecasted to Earn Q3 2019 Earnings of $2.55 Per Share
Bank of Montreal (TSE:BMO) (NYSE:BMO) – Stock analysts at Cormark dropped their Q3 2019 EPS estimates for shares of Bank of Montreal in a note issued to investors on Wednesday, December 5th. Cormark analyst M. Grauman now anticipates that the bank will post earnings per share of $2.55 for the quarter, down from their prior estimate of $2.59. Cormark currently has a “Market Perform” rating and a $109.00 target price on the stock. Cormark also issued estimates for Bank of Montreal’s FY2019 earnings at $9.67 EPS.
Several other analysts have also issued reports on BMO. Barclays decreased their price target on shares of Bank of Montreal from C$110.00 to C$105.00 in a research report on Friday, November 16th. National Bank Financial decreased their price target on shares of Bank of Montreal from C$115.00 to C$114.00 and set an “outperform” rating on the stock in a research report on Wednesday. Royal Bank of Canada raised their price target on shares of Bank of Montreal from C$124.00 to C$126.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 29th. Eight Capital raised their price target on shares of Bank of Montreal from C$119.00 to C$124.00 in a research report on Wednesday, August 29th. Finally, Canaccord Genuity decreased their price target on shares of Bank of Montreal from C$118.00 to C$111.00 in a research report on Thursday, November 22nd. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Bank of Montreal presently has an average rating of “Buy” and a consensus target price of C$112.27.
In other news, insider Jean-Michel Ares sold 57,356 shares of Bank of Montreal stock in a transaction dated Friday, September 21st. The shares were sold at an average price of C$108.46, for a total transaction of C$6,220,831.76.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 26th. Stockholders of record on Friday, February 1st will be given a dividend of $1.00 per share. This is a positive change from Bank of Montreal’s previous quarterly dividend of $0.96. This represents a $4.00 annualized dividend and a dividend yield of 4.26%. The ex-dividend date of this dividend is Thursday, January 31st. Bank of Montreal’s payout ratio is 50.28%.
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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