Bank Of Montreal (NYSE:BMO) (TSE:BMO) – National Bank Financial lowered their Q2 2018 earnings per share estimates for shares of Bank Of Montreal in a research report issued on Tuesday. National Bank Financial analyst G. Dechaine now forecasts that the bank will post earnings per share of $1.65 for the quarter, down from their previous estimate of $1.67.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly earnings data on Tuesday, August 29th. The bank reported $1.53 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.57 by $0.04. Bank Of Montreal had a return on equity of 14.36% and a net margin of 20.04%. The firm had revenue of $5.46 billion for the quarter, compared to analyst estimates of $5.52 billion. During the same quarter in the previous year, the business posted $1.94 earnings per share. Bank Of Montreal’s revenue for the quarter was down 3.1% on a year-over-year basis.

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BMO has been the subject of several other research reports. Zacks Investment Research upgraded Bank Of Montreal from a “sell” rating to a “hold” rating in a research note on Monday, May 15th. Royal Bank Of Canada reduced their target price on Bank Of Montreal to $108.00 and set a “sector perform” rating for the company in a research note on Thursday, May 25th. BidaskClub upgraded Bank Of Montreal from a “sell” rating to a “hold” rating in a research note on Saturday, August 19th. Scotiabank reiterated a “buy” rating and set a $101.00 target price on shares of Bank Of Montreal in a research note on Wednesday. Finally, Canaccord Genuity initiated coverage on Bank Of Montreal in a research note on Tuesday, July 18th. They set a “hold” rating for the company. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $97.20.

Bank Of Montreal (BMO) traded up 0.15% on Friday, hitting $71.90. 78,078 shares of the stock traded hands. The firm’s 50-day moving average price is $74.61 and its 200-day moving average price is $73.22. The stock has a market cap of $48.65 billion, a price-to-earnings ratio of 11.16 and a beta of 1.02. Bank Of Montreal has a 12-month low of $62.32 and a 12-month high of $78.00.

Bank Of Montreal announced that its Board of Directors has approved a share buyback program on Friday, June 23rd that allows the company to buyback 4,000,000 shares. This buyback authorization allows the bank to purchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 28th. Shareholders of record on Wednesday, November 1st will be given a $0.717 dividend. The ex-dividend date is Tuesday, October 31st. This is a positive change from Bank Of Montreal’s previous quarterly dividend of $0.66. This represents a $2.87 annualized dividend and a yield of 3.99%. Bank Of Montreal’s dividend payout ratio (DPR) is currently 45.28%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bronfman E.L. Rothschild L.P. raised its position in Bank Of Montreal by 1.1% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,392 shares of the bank’s stock worth $102,000 after buying an additional 15 shares during the period. Advisory Services Network LLC raised its position in Bank Of Montreal by 409.1% in the second quarter. Advisory Services Network LLC now owns 1,568 shares of the bank’s stock worth $115,000 after buying an additional 1,260 shares during the period. IFP Advisors Inc raised its position in Bank Of Montreal by 11.5% in the second quarter. IFP Advisors Inc now owns 1,604 shares of the bank’s stock worth $118,000 after buying an additional 166 shares during the period. BNP Paribas Arbitrage SA bought a new position in Bank Of Montreal during the first quarter worth $121,000. Finally, Parallel Advisors LLC raised its position in Bank Of Montreal by 5.0% in the first quarter. Parallel Advisors LLC now owns 2,071 shares of the bank’s stock worth $145,000 after buying an additional 99 shares during the period. 42.55% of the stock is currently owned by hedge funds and other institutional investors.

Bank Of Montreal Company Profile

Bank of Montreal (the Bank) is a financial services provider. The Bank provides a range of personal and commercial banking, wealth management and investment banking products and services. The Bank conducts its business through three operating groups: Personal and Commercial Banking (P&C), Wealth Management and BMO Capital Markets.

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

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