Desjardins Analysts Reduce Earnings Estimates for Bank of Montreal (TSE:BMO)

Bank of Montreal (TSE:BMO – Get Rating) (NYSE:BMO) – Stock analysts at Desjardins decreased their Q2 2022 EPS estimates for Bank of Montreal in a report released on Monday, May 9th. Desjardins analyst D. Young now expects that the bank will post earnings per share of $3.29 for the quarter, down from their previous forecast of $3.31.

Bank of Montreal (TSE:BMO – Get Rating) (NYSE:BMO) last released its quarterly earnings results on Tuesday, March 1st. The bank reported C$3.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$3.30 by C$0.59. The firm had revenue of C$7.72 billion for the quarter, compared to analysts’ expectations of C$6.67 billion.

BMO has been the topic of several other reports. Scotiabank lowered their target price on Bank of Montreal from C$168.00 to C$161.00 in a research note on Wednesday, April 13th. CIBC lowered their target price on Bank of Montreal from C$156.00 to C$150.00 in a research note on Monday, April 11th. Canaccord Genuity Group lifted their target price on Bank of Montreal from C$169.00 to C$171.00 in a research note on Wednesday, March 2nd. National Bankshares downgraded Bank of Montreal from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from C$163.00 to C$151.00 in a research note on Monday, March 7th. Finally, Fundamental Research lifted their target price on Bank of Montreal from C$143.30 to C$175.57 and gave the company a “buy” rating in a research note on Monday, March 7th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Bank of Montreal has a consensus rating of “Buy” and a consensus target price of C$148.85.

TSE:BMO opened at C$131.42 on Thursday. The stock’s 50 day moving average price is C$144.22 and its 200 day moving average price is C$142.37. Bank of Montreal has a 52-week low of C$116.39 and a 52-week high of C$154.47. The company has a market capitalization of C$88.25 billion and a PE ratio of 10.12.

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 issued a $1.33 dividend. This represents a $5.32 annualized dividend and a dividend yield of 4.05%. The ex-dividend date is Friday, April 29th. Bank of Montreal’s dividend payout ratio (DPR) is presently 34.74%.

Bank of Montreal Company Profile (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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