National Bank Financial Equities Analysts Cut Earnings Estimates for Bank of Montreal (NYSE:BMO)

Bank of Montreal (NYSE:BMOGet Rating) (TSE:BMO) – Investment analysts at National Bank Financial lowered their FY2022 EPS estimates for Bank of Montreal in a research note issued on Thursday, April 7th. National Bank Financial analyst G. Dechaine now forecasts that the bank will earn $10.15 per share for the year, down from their previous forecast of $10.25. National Bank Financial has a “Sector Perform” rating on the stock. National Bank Financial also issued estimates for Bank of Montreal’s FY2023 earnings at $10.86 EPS.

Bank of Montreal (NYSE:BMOGet Rating) (TSE:BMO) last released its quarterly earnings results on Tuesday, March 1st. The bank reported $3.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.60 by $0.47. Bank of Montreal had a return on equity of 17.71% and a net margin of 26.09%. The firm had revenue of $7.64 billion for the quarter, compared to the consensus estimate of $6.67 billion. During the same quarter last year, the business posted $2.38 EPS. The firm’s quarterly revenue was up 19.9% compared to the same quarter last year.

Several other equities research analysts also recently weighed in on BMO. BMO Capital Markets upped their target price on Bank of Montreal from C$161.00 to C$163.00 in a research report on Thursday, March 31st. Scotiabank upgraded Bank of Montreal from a “sector perform” rating to a “sector outperform” rating and increased their price target for the stock from $165.00 to $169.00 in a research report on Wednesday, March 2nd. Stifel Nicolaus decreased their price objective on Bank of Montreal from C$172.00 to C$171.00 and set a “buy” rating for the company in a report on Friday. TD Securities increased their price objective on Bank of Montreal from C$170.00 to C$175.00 and gave the stock a “buy” rating in a report on Wednesday, March 2nd. Finally, StockNews.com assumed coverage on Bank of Montreal in a report on Thursday, March 31st. They issued a “hold” rating for the company. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $159.21.

NYSE BMO opened at $115.32 on Monday. The stock has a market cap of $77.43 billion, a price-to-earnings ratio of 11.13, a price-to-earnings-growth ratio of 1.48 and a beta of 1.20. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.16. Bank of Montreal has a fifty-two week low of $88.98 and a fifty-two week high of $122.77. The business has a fifty day moving average of $116.79 and a 200-day moving average of $111.68.

Large investors have recently made changes to their positions in the company. LPL Financial LLC lifted its holdings in shares of Bank of Montreal by 1.9% in the third quarter. LPL Financial LLC now owns 55,698 shares of the bank’s stock valued at $5,555,000 after purchasing an additional 1,058 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of Bank of Montreal by 57.2% in the fourth quarter. Van ECK Associates Corp now owns 22,012 shares of the bank’s stock valued at $2,372,000 after purchasing an additional 8,009 shares in the last quarter. Berger Financial Group Inc lifted its holdings in shares of Bank of Montreal by 7.1% in the fourth quarter. Berger Financial Group Inc now owns 8,937 shares of the bank’s stock valued at $963,000 after purchasing an additional 591 shares in the last quarter. Scheer Rowlett & Associates Investment Management Ltd. lifted its holdings in shares of Bank of Montreal by 1.3% in the third quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 164,770 shares of the bank’s stock valued at $16,430,000 after purchasing an additional 2,040 shares in the last quarter. Finally, AGF Investments Inc. lifted its holdings in shares of Bank of Montreal by 44.0% in the third quarter. AGF Investments Inc. now owns 1,159,954 shares of the bank’s stock valued at $115,803,000 after purchasing an additional 354,609 shares in the last quarter. Institutional investors own 41.52% of the company’s stock.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 26th. Stockholders of record on Monday, May 2nd will be given a dividend of $1.049 per share. This represents a $4.20 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date of this dividend is Friday, April 29th. This is an increase from Bank of Montreal’s previous quarterly dividend of $1.04. Bank of Montreal’s dividend payout ratio is 40.44%.

About Bank of Montreal (Get Rating)

Bank of Montreal provides diversified financial services primarily in North America. 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, specialized banking programs, treasury and payment solutions, and risk management products for small business and commercial banking customers.

See Also

Earnings History and Estimates for Bank of Montreal (NYSE:BMO)

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