Bank of Montreal Expected to Earn Q2 2022 Earnings of $2.57 Per Share (NYSE:BMO)

Bank of Montreal (NYSE:BMO – Get Rating) (TSE:BMO) – Research analysts at Desjardins reduced their Q2 2022 earnings per share (EPS) estimates for shares of Bank of Montreal in a report released on Monday, May 9th. Desjardins analyst D. Young now expects that the bank will post earnings of $2.57 per share for the quarter, down from their previous estimate of $2.61. Desjardins also issued estimates for Bank of Montreal’s FY2023 earnings at $11.35 EPS.

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

Several other analysts also recently weighed in on the stock. StockNews.com initiated coverage on shares of Bank of Montreal in a research note on Thursday, March 31st. They set a “hold” rating for the company. Zacks Investment Research lowered shares of Bank of Montreal from a “buy” rating to a “hold” rating in a report on Tuesday, April 26th. Stifel Nicolaus lowered their price target on shares of Bank of Montreal from C$172.00 to C$171.00 and set a “buy” rating on the stock in a report on Friday, April 8th. Stifel Europe upped their price target on shares of Bank of Montreal from C$170.00 to C$172.00 and gave the company a “buy” rating in a report on Wednesday, March 2nd. Finally, TD Securities upped their price target on shares of Bank of Montreal from C$170.00 to C$175.00 and gave the company a “buy” rating in a report on Wednesday, March 2nd. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $158.71.

Shares of NYSE:BMO opened at $101.13 on Thursday. The business has a 50 day simple moving average of $113.81 and a two-hundred day simple moving average of $112.43. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.96 and a quick ratio of 0.96. Bank of Montreal has a 1 year low of $95.37 and a 1 year high of $122.77. The firm has a market capitalization of $67.92 billion, a PE ratio of 9.76, a price-to-earnings-growth ratio of 1.35 and a beta of 1.19.

A number of hedge funds have recently modified their holdings of the business. SRS Capital Advisors Inc. boosted its position in Bank of Montreal by 14.7% in the 4th quarter. SRS Capital Advisors Inc. now owns 743 shares of the bank’s stock valued at $80,000 after buying an additional 95 shares during the period. Great Valley Advisor Group Inc. raised its holdings in shares of Bank of Montreal by 2.7% in the 1st quarter. Great Valley Advisor Group Inc. now owns 3,716 shares of the bank’s stock valued at $438,000 after purchasing an additional 97 shares in the last quarter. Wendell David Associates Inc. raised its holdings in shares of Bank of Montreal by 4.2% in the 1st quarter. Wendell David Associates Inc. now owns 2,500 shares of the bank’s stock valued at $295,000 after purchasing an additional 100 shares in the last quarter. Glassman Wealth Services raised its holdings in shares of Bank of Montreal by 56.3% in the 4th quarter. Glassman Wealth Services now owns 286 shares of the bank’s stock valued at $31,000 after purchasing an additional 103 shares in the last quarter. Finally, Cetera Investment Advisers raised its holdings in shares of Bank of Montreal by 3.1% in the 4th quarter. Cetera Investment Advisers now owns 3,776 shares of the bank’s stock valued at $407,000 after purchasing an additional 114 shares in the last quarter. 39.47% of the stock is owned by institutional investors.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 26th. Shareholders of record on Monday, May 2nd will be given a $1.049 dividend. This represents a $4.20 annualized dividend and a yield of 4.15%. The ex-dividend date of this dividend is Friday, April 29th. This is a boost from Bank of Montreal’s previous quarterly dividend of $1.04. Bank of Montreal’s dividend payout ratio (DPR) is currently 41.02%.

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.

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