Bank of Montreal (TSE:BMO) (NYSE:BMO) – Stock analysts at Desjardins increased their Q2 2019 earnings estimates for Bank of Montreal in a research note issued to investors on Monday, May 13th. Desjardins analyst D. Young now anticipates that the bank will post earnings of $2.35 per share for the quarter, up from their prior estimate of $2.33. Desjardins has a “Hold” rating and a $111.00 price target on the stock. Desjardins also issued estimates for Bank of Montreal’s FY2019 earnings at $9.45 EPS.
Several other analysts have also recently issued reports on BMO. Canaccord Genuity cut their price target on shares of Bank of Montreal from C$113.00 to C$111.00 in a report on Wednesday. Royal Bank of Canada upped their price target on shares of Bank of Montreal from C$112.00 to C$113.00 and gave the company an “outperform” rating in a report on Wednesday, February 27th. National Bank Financial upped their price target on shares of Bank of Montreal from C$114.00 to C$116.00 in a report on Wednesday, February 27th. Finally, Bank of America cut shares of Bank of Montreal from a “neutral” rating to an “underperform” rating and cut their price target for the company from C$104.00 to C$98.00 in a report on Monday, January 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. Bank of Montreal has an average rating of “Hold” and an average price target of C$110.82.
Bank of Montreal (TSE:BMO) (NYSE:BMO) last announced its earnings results on Tuesday, February 26th. The bank reported C$2.32 earnings per share for the quarter, beating the consensus estimate of C$2.24 by C$0.08. The firm had revenue of C$6.52 billion during the quarter, compared to analysts’ expectations of C$5.94 billion.
In related news, Senior Officer Patrick Cronin sold 26,022 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of C$102.16, for a total value of C$2,658,329.45. Also, Senior Officer Cameron Mcaskile Fowler sold 6,900 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of C$103.98, for a total transaction of C$717,482.70.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Wednesday, May 1st will be issued a $1.00 dividend. The ex-dividend date is Tuesday, April 30th. This represents a $4.00 annualized dividend and a yield of 3.86%. Bank of Montreal’s dividend payout ratio is presently 42.65%.
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, 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, as well as wealth management products and services, such as insurance products.
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