Cormark Research Analysts Reduce Earnings Estimates for Bank of Montreal (BMO)

Bank of Montreal (TSE:BMO) (NYSE:BMO) – Investment analysts at Cormark reduced their Q4 2017 EPS estimates for Bank of Montreal in a research report issued to clients and investors on Friday. Cormark analyst M. Grauman now anticipates that the bank will post earnings per share of $1.93 for the quarter, down from their prior forecast of $2.03. Cormark also issued estimates for Bank of Montreal’s FY2018 earnings at $8.55 EPS and FY2019 earnings at $9.19 EPS.

Several other brokerages also recently weighed in on BMO. Canaccord Genuity cut their price target on Bank of Montreal from C$103.00 to C$99.00 in a report on Wednesday, November 1st. CIBC upped their price target on Bank of Montreal from C$100.00 to C$107.00 in a report on Monday, November 13th. Barclays PLC upped their price target on Bank of Montreal from C$98.00 to C$99.00 in a report on Friday, August 11th. Finally, Scotiabank cut their price target on Bank of Montreal from C$103.00 to C$101.00 and set an “outperform” rating on the stock in a report on Wednesday, August 30th. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of C$100.69.

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Shares of Bank of Montreal (BMO) opened at C$99.00 on Monday. Bank of Montreal has a 1-year low of C$87.28 and a 1-year high of C$104.15.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 28th. Stockholders of record on Wednesday, November 1st will be given a dividend of $0.90 per share. The ex-dividend date is Tuesday, October 31st. This represents a $3.60 annualized dividend and a dividend yield of 3.64%. Bank of Montreal’s dividend payout ratio is currently 43.30%.

In related news, insider Joanna Michelle Rotenberg sold 4,250 shares of the company’s stock in a transaction dated Thursday, September 21st. The stock was sold at an average price of C$93.00, for a total value of C$395,250.00. Also, Director Philip Orsino bought 17,800 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The stock was purchased at an average cost of C$89.12 per share, with a total value of C$1,586,336.00.

About Bank of Montreal

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 (TSE:BMO)

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