Q3 2024 Earnings Estimate for Bank of Montreal (NYSE:BMO) Issued By National Bank Financial

Bank of Montreal (NYSE:BMO) (TSE:BMO) – Analysts at National Bank Financial decreased their Q3 2024 earnings per share (EPS) estimates for shares of Bank of Montreal in a research report issued on Thursday, August 15th. National Bank Financial analyst G. Dechaine now anticipates that the bank will post earnings per share of $1.95 for the quarter, down from their prior estimate of $2.15. The consensus estimate for Bank of Montreal’s current full-year earnings is $7.91 per share. National Bank Financial also issued estimates for Bank of Montreal’s Q4 2024 earnings at $1.95 EPS, FY2024 earnings at $7.65 EPS and FY2025 earnings at $8.63 EPS.

A number of other equities research analysts have also weighed in on BMO. Royal Bank of Canada lowered Bank of Montreal from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, July 30th. Keefe, Bruyette & Woods lowered Bank of Montreal from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $137.00 to $124.00 in a research report on Monday, June 3rd. Desjardins lowered Bank of Montreal from a “buy” rating to a “hold” rating in a research report on Wednesday, May 29th. Finally, UBS Group began coverage on Bank of Montreal in a research report on Tuesday, July 2nd. They set a “neutral” rating on the stock. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $127.50.

Bank of Montreal Price Performance

Shares of BMO stock opened at $85.51 on Monday. The firm has a market cap of $62.36 billion, a P/E ratio of 14.20, a P/E/G ratio of 2.04 and a beta of 1.12. Bank of Montreal has a fifty-two week low of $73.98 and a fifty-two week high of $100.12. The business’s 50 day moving average price is $84.38 and its 200-day moving average price is $90.10. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.99 and a current ratio of 0.99.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last issued its quarterly earnings data on Wednesday, May 29th. The bank reported $1.91 earnings per share for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.10). The business had revenue of $5.88 billion during the quarter, compared to the consensus estimate of $5.96 billion. Bank of Montreal had a return on equity of 11.60% and a net margin of 8.25%.

Bank of Montreal Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 27th. Investors of record on Tuesday, July 30th will be given a dividend of $1.125 per share. This represents a $4.50 dividend on an annualized basis and a yield of 5.26%. The ex-dividend date is Tuesday, July 30th. This is a boost from Bank of Montreal’s previous quarterly dividend of $1.12. Bank of Montreal’s dividend payout ratio is 75.25%.

Institutional Trading of Bank of Montreal

Hedge funds have recently bought and sold shares of the company. Principal Securities Inc. purchased a new stake in Bank of Montreal during the fourth quarter valued at $33,000. Rothschild Investment LLC purchased a new stake in Bank of Montreal during the second quarter valued at $40,000. Cullen Frost Bankers Inc. increased its position in Bank of Montreal by 3,375.0% during the fourth quarter. Cullen Frost Bankers Inc. now owns 417 shares of the bank’s stock valued at $41,000 after acquiring an additional 405 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Bank of Montreal during the fourth quarter valued at $44,000. Finally, EverSource Wealth Advisors LLC increased its position in Bank of Montreal by 39.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 463 shares of the bank’s stock valued at $46,000 after acquiring an additional 130 shares during the last quarter. Hedge funds and other institutional investors own 45.82% of the company’s stock.

About Bank of Montreal

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.