Bank of Montreal to Post FY2018 Earnings of $8.45 Per Share, Desjardins Forecasts (BMO)
Bank of Montreal (TSE:BMO) (NYSE:BMO) – Investment analysts at Desjardins upped their FY2018 earnings per share (EPS) estimates for shares of Bank of Montreal in a note issued to investors on Tuesday. Desjardins analyst D. Young now expects that the bank will earn $8.45 per share for the year, up from their prior estimate of $8.43. Desjardins also issued estimates for Bank of Montreal’s FY2019 earnings at $8.95 EPS.
Several other research firms also recently issued reports on BMO. Scotiabank lifted their price target on Bank of Montreal from C$112.00 to C$114.00 and gave the stock an “outperform” rating in a research note on Wednesday. Royal Bank Of Canada lifted their price target on Bank of Montreal from C$108.00 to C$116.00 and gave the stock a “sector perform” rating in a research note on Wednesday. National Bank Financial lifted their price target on Bank of Montreal from C$100.00 to C$103.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Eight Capital lifted their price target on Bank of Montreal from C$101.00 to C$106.00 in a research note on Wednesday. Finally, CSFB lifted their price target on Bank of Montreal from C$102.00 to C$103.00 in a research note on Wednesday. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Bank of Montreal has an average rating of “Hold” and a consensus target price of C$104.58.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 27th. Investors of record on Thursday, February 1st will be paid a $0.93 dividend. This is an increase from Bank of Montreal’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Wednesday, January 31st. This represents a $3.72 annualized dividend and a yield of 3.70%. Bank of Montreal’s payout ratio is presently 44.44%.
In other news, insider Joanna Michelle Rotenberg sold 4,250 shares of the company’s stock in a transaction dated Thursday, September 21st. The shares were sold at an average price of C$93.00, for a total transaction of C$395,250.00.
COPYRIGHT VIOLATION WARNING: This news story was originally published by American Banking News and is the sole property of of American Banking News. If you are accessing this news story on another site, it was stolen and republished in violation of United States and international copyright law. The original version of this news story can be read at https://www.americanbankingnews.com/2017/12/08/bank-of-montreal-to-post-fy2018-earnings-of-8-45-per-share-desjardins-forecasts-bmo.html.
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.
Receive News & Ratings for Bank of Montreal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of Montreal and related companies with MarketBeat.com's FREE daily email newsletter.