BMO FY2024 EPS Decreased by National Bank Financial

Bank of Montreal (NYSE:BMO) (TSE:BMO) – Equities researchers at National Bank Financial lowered 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 expects that the bank will post earnings per share of $7.34 for the year, down from their previous estimate of $7.63. The consensus estimate for Bank of Montreal’s current full-year earnings is $8.01 per share. National Bank Financial also issued estimates for Bank of Montreal’s Q4 2024 earnings at $1.74 EPS, FY2025 earnings at $8.17 EPS and FY2026 earnings at $9.27 EPS.

Other analysts also recently issued research reports about the company. Royal Bank of Canada downgraded Bank of Montreal from an “outperform” rating to a “sector perform” rating in a report on Tuesday, July 30th. TD Securities downgraded Bank of Montreal from a “buy” rating to a “hold” rating in a report on Tuesday, August 27th. Bank of America downgraded Bank of Montreal from a “buy” rating to a “neutral” rating and cut their target price for the company from $134.00 to $117.00 in a research note on Wednesday, August 28th. StockNews.com downgraded Bank of Montreal from a “hold” rating to a “sell” rating in a research note on Thursday, August 29th. Finally, Jefferies Financial Group downgraded Bank of Montreal from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $119.75.

Bank of Montreal Price Performance

Shares of BMO opened at $94.63 on Thursday. The firm has a market cap of $69.04 billion, a price-to-earnings ratio of 14.90, a PEG ratio of 2.41 and a beta of 1.10. Bank of Montreal has a 52 week low of $76.98 and a 52 week high of $100.12. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.13. The stock has a 50 day moving average of $91.69 and a 200-day moving average of $88.27.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last issued its earnings results on Tuesday, August 27th. The bank reported $2.64 EPS for the quarter, missing the consensus estimate of $2.76 by ($0.12). The firm had revenue of $8.21 billion during the quarter, compared to analyst estimates of $8.25 billion. Bank of Montreal had a return on equity of 11.23% and a net margin of 8.50%. Bank of Montreal’s revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.08 EPS.

Bank of Montreal Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Wednesday, October 30th will be given a dividend of $1.123 per share. This represents a $4.49 annualized dividend and a dividend yield of 4.75%. The ex-dividend date of this dividend is Wednesday, October 30th. Bank of Montreal’s dividend payout ratio (DPR) is presently 72.13%.

Hedge Funds Weigh In On Bank of Montreal

Hedge funds have recently modified their holdings of the company. Strategic Investment Solutions Inc. IL acquired a new position in shares of Bank of Montreal during the 2nd quarter valued at $34,000. Rothschild Investment LLC acquired a new position in shares of Bank of Montreal during the 2nd quarter valued at $40,000. GHP Investment Advisors Inc. increased its position in shares of Bank of Montreal by 244.1% during the 3rd quarter. GHP Investment Advisors Inc. now owns 554 shares of the bank’s stock valued at $50,000 after purchasing an additional 393 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Bank of Montreal by 34.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 623 shares of the bank’s stock valued at $56,000 after purchasing an additional 160 shares during the period. Finally, Blue Trust Inc. increased its position in shares of Bank of Montreal by 207.8% during the 3rd quarter. Blue Trust Inc. now owns 668 shares of the bank’s stock valued at $56,000 after purchasing an additional 451 shares during the period. 45.82% of the stock is currently owned by institutional investors and hedge funds.

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.