TSE:BMO FY2024 EPS Estimate Cut by National Bank Financial

Bank of Montreal (TSE:BMO) (NYSE:BMO) – Analysts at National Bank Financial decreased their FY2024 earnings per share estimates for shares of Bank of Montreal in a research report issued on Tuesday, November 19th. National Bank Financial analyst G. Dechaine now forecasts that the bank will earn $10.20 per share for the year, down from their prior forecast of $10.31. The consensus estimate for Bank of Montreal’s current full-year earnings is $9.65 per share. National Bank Financial also issued estimates for Bank of Montreal’s Q4 2024 earnings at $2.42 EPS, FY2025 earnings at $11.35 EPS and FY2026 earnings at $12.88 EPS.

A number of other equities analysts have also recently commented on BMO. Cormark reduced their price target on Bank of Montreal from C$129.00 to C$118.00 in a report on Wednesday, August 28th. Canaccord Genuity Group lifted their price target on Bank of Montreal from C$125.00 to C$143.00 in a report on Tuesday. Scotiabank cut Bank of Montreal from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from C$123.00 to C$112.00 in a report on Wednesday, August 28th. Desjardins reduced their price objective on Bank of Montreal from C$125.00 to C$120.00 and set a “hold” rating for the company in a report on Wednesday, August 28th. Finally, TD Securities boosted their price objective on Bank of Montreal from C$114.00 to C$131.00 in a report on Friday, November 15th. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of C$124.69.

Bank of Montreal Price Performance

Shares of TSE BMO opened at C$132.24 on Thursday. The stock has a market capitalization of C$96.46 billion, a price-to-earnings ratio of 15.22, a PEG ratio of 0.71 and a beta of 1.16. The business has a 50-day moving average of C$125.36 and a 200-day moving average of C$121.08. Bank of Montreal has a fifty-two week low of C$107.16 and a fifty-two week high of C$133.95.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last posted its quarterly earnings results on Tuesday, August 27th. The bank reported C$2.64 earnings per share for the quarter, missing analysts’ consensus estimates of C$2.72 by C($0.08). The company had revenue of C$8.19 billion during the quarter, compared to analyst estimates of C$8.23 billion. Bank of Montreal had a net margin of 21.20% and a return on equity of 8.49%.

Insider Activity at Bank of Montreal

In other Bank of Montreal news, Senior Officer Steven Lloyd Tennyson sold 7,908 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of C$112.16, for a total value of C$886,977.10. Also, Senior Officer David Robert Casper sold 12,819 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of C$121.85, for a total transaction of C$1,562,007.97. 0.03% of the stock is owned by corporate insiders.

Bank of Montreal Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Tuesday, November 26th will be given a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 4.69%. The ex-dividend date is Wednesday, October 30th. Bank of Montreal’s dividend payout ratio is currently 71.35%.

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.