Q1 2019 EPS Estimates for Bank of Montreal Lowered by Cormark (BMO)
Bank of Montreal (TSE:BMO) (NYSE:BMO) – Cormark lowered their Q1 2019 earnings per share estimates for Bank of Montreal in a research note issued on Tuesday, December 4th. Cormark analyst M. Grauman now expects that the bank will earn $2.26 per share for the quarter, down from their previous estimate of $2.27. Cormark has a “Market Perform” rating and a $109.00 price target on the stock. Cormark also issued estimates for Bank of Montreal’s Q2 2019 earnings at $2.45 EPS, Q3 2019 earnings at $2.59 EPS, Q4 2019 earnings at $2.55 EPS, Q1 2020 earnings at $2.42 EPS, Q2 2020 earnings at $2.63 EPS, Q3 2020 earnings at $2.74 EPS and Q4 2020 earnings at $2.72 EPS.
A number of other equities research analysts also recently weighed in on the stock. Eight Capital boosted their price objective on shares of Bank of Montreal from C$119.00 to C$124.00 in a research report on Wednesday, August 29th. CIBC upped their target price on shares of Bank of Montreal from C$109.00 to C$111.00 in a research report on Wednesday, August 29th. Royal Bank of Canada upped their target price 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. National Bank Financial upped their target price on shares of Bank of Montreal from C$108.00 to C$115.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 29th. Finally, Canaccord Genuity upgraded shares of Bank of Montreal from a “hold” rating to a “buy” rating and upped their target price for the stock from C$111.00 to C$118.00 in a research report on Wednesday, August 29th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of C$112.27.
In other Bank of Montreal news, insider Jean-Michel Ares sold 57,356 shares of the company’s stock in a transaction dated Friday, September 21st. The shares were sold at an average price of C$108.46, for a total value of C$6,220,831.76.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 26th. Shareholders of record on Friday, February 1st will be given a $1.00 dividend. This is a boost from Bank of Montreal’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Thursday, January 31st. This represents a $4.00 annualized dividend and a yield of 4.26%. Bank of Montreal’s dividend payout ratio is 50.28%.
Bank of Montreal Company Profile
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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