FY2024 Earnings Estimate for TSE:BMO Issued By Desjardins

Bank of Montreal (TSE:BMO) (NYSE:BMO) – Desjardins lowered their FY2024 earnings per share estimates for Bank of Montreal in a research report issued on Friday, November 1st. Desjardins analyst D. Young now expects that the bank will post earnings per share of $10.09 for the year, down from their prior estimate of $10.30. Desjardins has a “Hold” rating and a $120.00 price objective on the stock. The consensus estimate for Bank of Montreal’s current full-year earnings is $9.65 per share. Desjardins also issued estimates for Bank of Montreal’s Q4 2024 earnings at $2.31 EPS and FY2025 earnings at $10.80 EPS.

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

A number of other research analysts have also issued reports on the company. Royal Bank of Canada reduced their price target on Bank of Montreal from C$118.00 to C$106.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 28th. Bank of America lowered shares of Bank of Montreal from a “buy” rating to a “neutral” rating and decreased their target price for the company from C$134.00 to C$117.00 in a research report on Wednesday, August 28th. CIBC boosted their price target on shares of Bank of Montreal from C$116.00 to C$120.00 in a research report on Friday, September 6th. Canaccord Genuity Group decreased their price objective on shares of Bank of Montreal from C$135.00 to C$130.00 and set a “buy” rating for the company in a report on Wednesday, August 28th. Finally, TD Securities cut Bank of Montreal from a “buy” rating to a “hold” rating and dropped their target price for the stock from C$130.00 to C$114.00 in a report on Wednesday, August 28th. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of C$120.77.

Bank of Montreal Trading Down 0.2 %

Shares of TSE BMO opened at C$126.65 on Monday. Bank of Montreal has a 12-month low of C$105.31 and a 12-month high of C$133.95. The company has a market cap of C$92.38 billion, a PE ratio of 14.57, a P/E/G ratio of 0.71 and a beta of 1.16. The stock has a 50 day simple moving average of C$121.06 and a 200-day simple moving average of C$120.68.

Bank of Montreal Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 26th will be issued a $1.55 dividend. The ex-dividend date is Wednesday, October 30th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.90%. Bank of Montreal’s dividend payout ratio is 71.35%.

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

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.