TSE:BMO FY2024 EPS Estimate Cut by National Bank Financial

Bank of Montreal (TSE:BMO) (NYSE:BMO) – Research analysts at National Bank Financial cut their FY2024 earnings per share (EPS) estimates for Bank of Montreal in a report released on Tuesday, November 19th. National Bank Financial analyst G. Dechaine now expects that the bank will post earnings of $10.20 per share for the year, down from their prior estimate 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.

Several other equities research analysts also recently commented on BMO. National Bankshares raised their target price on Bank of Montreal from C$127.00 to C$148.00 in a report on Wednesday. CIBC lifted their target price on Bank of Montreal from C$116.00 to C$120.00 in a research report on Friday, September 6th. TD Securities lifted their target price on Bank of Montreal from C$114.00 to C$131.00 in a research report on Friday, November 15th. Bank of America lowered Bank of Montreal from a “buy” rating to a “neutral” rating and reduced their price objective for the company from C$134.00 to C$117.00 in a research report on Wednesday, August 28th. Finally, Canaccord Genuity Group boosted their price objective on Bank of Montreal from C$125.00 to C$143.00 in a research report on Tuesday. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Bank of Montreal currently has an average rating of “Hold” and a consensus price target of C$124.69.

Bank of Montreal Price Performance

Shares of TSE:BMO opened at C$132.24 on Thursday. The firm has a market capitalization of C$96.46 billion, a PE ratio of 15.22, a P/E/G ratio of 0.71 and a beta of 1.16. The business has a 50-day moving average of C$125.36 and a two-hundred day moving average of C$121.08. Bank of Montreal has a 12 month low of C$107.16 and a 12 month high of C$133.95.

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

Insider Transactions at Bank of Montreal

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

Bank of Montreal Announces Dividend

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