National Bank Financial Comments on Bank of Montreal’s Q3 2024 Earnings (NYSE:BMO)

Bank of Montreal (NYSE:BMO) (TSE:BMO) – Analysts at National Bank Financial lowered their Q3 2024 earnings per share estimates for shares of Bank of Montreal in a note issued to investors on Thursday, August 15th. National Bank Financial analyst G. Dechaine now forecasts that the bank will post earnings of $1.95 per share for the quarter, down from their prior forecast of $2.15. The consensus estimate for Bank of Montreal’s current full-year earnings is $7.91 per share. National Bank Financial also issued estimates for Bank of Montreal’s Q4 2024 earnings at $1.95 EPS, FY2024 earnings at $7.65 EPS and FY2025 earnings at $8.63 EPS.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last issued its quarterly earnings data on Wednesday, May 29th. The bank reported $1.91 EPS for the quarter, missing the consensus estimate of $2.01 by ($0.10). Bank of Montreal had a net margin of 8.25% and a return on equity of 11.60%. The firm had revenue of $5.88 billion for the quarter, compared to analysts’ expectations of $5.96 billion.

Several other equities research analysts have also issued reports on the company. Royal Bank of Canada lowered Bank of Montreal from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, July 30th. Keefe, Bruyette & Woods lowered Bank of Montreal from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $137.00 to $124.00 in a report on Monday, June 3rd. Desjardins cut shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research report on Wednesday, May 29th. Finally, UBS Group assumed coverage on shares of Bank of Montreal in a research report on Tuesday, July 2nd. They set a “neutral” rating for the company. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $127.50.

Bank of Montreal Stock Up 0.3 %

Shares of NYSE:BMO opened at $86.66 on Monday. The company has a market cap of $63.20 billion, a price-to-earnings ratio of 14.40, a PEG ratio of 2.04 and a beta of 1.12. Bank of Montreal has a one year low of $73.98 and a one year high of $100.12. The firm has a fifty day moving average price of $84.49 and a two-hundred day moving average price of $89.99. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.99 and a quick ratio of 0.99.

Bank of Montreal Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 27th. Investors of record on Tuesday, July 30th will be given a $1.125 dividend. This is an increase from Bank of Montreal’s previous quarterly dividend of $1.12. The ex-dividend date is Tuesday, July 30th. This represents a $4.50 dividend on an annualized basis and a yield of 5.19%. Bank of Montreal’s payout ratio is presently 75.25%.

Institutional Trading of Bank of Montreal

Hedge funds and other institutional investors have recently bought and sold shares of the company. Dorsey & Whitney Trust CO LLC lifted its holdings in shares of Bank of Montreal by 2.1% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 5,739 shares of the bank’s stock worth $568,000 after acquiring an additional 116 shares during the last quarter. Signaturefd LLC lifted its stake in Bank of Montreal by 1.5% in the second quarter. Signaturefd LLC now owns 8,581 shares of the bank’s stock worth $720,000 after purchasing an additional 123 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in Bank of Montreal by 39.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 463 shares of the bank’s stock valued at $46,000 after buying an additional 130 shares during the period. IAG Wealth Partners LLC grew its stake in shares of Bank of Montreal by 28.0% during the first quarter. IAG Wealth Partners LLC now owns 635 shares of the bank’s stock valued at $62,000 after buying an additional 139 shares during the last quarter. Finally, Sequoia Financial Advisors LLC increased its holdings in shares of Bank of Montreal by 4.4% in the second quarter. Sequoia Financial Advisors LLC now owns 3,580 shares of the bank’s stock worth $300,000 after buying an additional 151 shares during the period. Hedge funds and other institutional investors own 45.82% of the company’s stock.

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.