FY2023 EPS Estimates for Bank of Montreal Cut by Analyst (TSE:BMO)

Bank of Montreal (TSE:BMO) (NYSE:BMO) – Investment analysts at National Bank Financial dropped their FY2023 EPS estimates for shares of Bank of Montreal in a report released on Tuesday, August 29th. National Bank Financial analyst G. Dechaine now forecasts that the bank will post earnings per share of $11.99 for the year, down from their previous estimate of $12.07. The consensus estimate for Bank of Montreal’s current full-year earnings is $13.34 per share. National Bank Financial also issued estimates for Bank of Montreal’s Q4 2023 earnings at $3.06 EPS and FY2024 earnings at $12.96 EPS.

Several other equities research analysts have also recently weighed in on the stock. Canaccord Genuity Group lowered their price objective on shares of Bank of Montreal from C$130.00 to C$121.50 in a research report on Thursday, May 25th. Cormark lowered their price target on shares of Bank of Montreal from C$132.00 to C$130.00 and set a “buy” rating for the company in a research report on Wednesday. Scotiabank lowered their price target on shares of Bank of Montreal from C$151.00 to C$143.00 in a research report on Thursday, May 25th. CSFB lowered their price target on shares of Bank of Montreal from C$147.00 to C$139.00 in a research report on Tuesday, May 16th. Finally, National Bankshares lifted their price target on shares of Bank of Montreal from C$122.00 to C$123.00 and gave the stock a “sector perform” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$133.61.

Bank of Montreal Trading Up 1.2 %

BMO opened at C$115.69 on Thursday. The stock has a market capitalization of C$82.49 billion, a PE ratio of 11.52, a PEG ratio of 1.49 and a beta of 1.14. Bank of Montreal has a 1-year low of C$111.18 and a 1-year high of C$137.64. The firm has a 50-day moving average price of C$118.56 and a two-hundred day moving average price of C$120.32.

Insider Buying and Selling at Bank of Montreal

In other Bank of Montreal news, Director Linda Susan Huber sold 500 shares of Bank of Montreal stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of C$87.56, for a total value of C$43,780.00. Insiders own 0.03% of the company’s stock.

Bank of Montreal Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 28th. Shareholders of record on Monday, October 30th will be paid a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 5.08%. The ex-dividend date of this dividend is Friday, October 27th. Bank of Montreal’s payout ratio is currently 58.57%.

Bank of Montreal Company Profile

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.