Bank Of Montreal to Post Q3 2018 Earnings of $1.67 Per Share, National Bank Financial Forecasts (BMO)

Bank Of Montreal (NYSE:BMO) (TSE:BMO) – National Bank Financial issued their Q3 2018 earnings per share estimates for Bank Of Montreal in a note issued to investors on Monday. National Bank Financial analyst G. Dechaine expects that the bank will earn $1.67 per share for the quarter.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last issued its quarterly earnings results on Tuesday, August 29th. The bank reported $1.53 earnings per share for the quarter, missing the Zacks’ 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 business 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. The business’s revenue was down 3.1% on a year-over-year basis.

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A number of other analysts also recently weighed in on the company. Zacks Investment Research downgraded Bank Of Montreal from a “buy” rating to a “hold” rating in a report on Tuesday, October 31st. Macquarie initiated coverage on Bank Of Montreal in a report on Tuesday, October 24th. They set a “neutral” rating and a $81.00 price target for the company. Scotiabank reiterated a “buy” rating and set a $101.00 price target on shares of Bank Of Montreal in a report on Wednesday, August 30th. Canaccord Genuity set a $102.00 price target on Bank Of Montreal and gave the stock a “hold” rating in a report on Tuesday, August 29th. Finally, BidaskClub downgraded Bank Of Montreal from a “buy” rating to a “hold” rating in a report on Saturday, August 5th. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $97.60.

Shares of Bank Of Montreal (NYSE BMO) traded up $0.77 during trading on Thursday, reaching $78.35. The company’s stock had a trading volume of 362,700 shares, compared to its average volume of 425,309. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.07 and a current ratio of 1.07. Bank Of Montreal has a 52-week low of $65.55 and a 52-week high of $78.86. The firm has a market cap of $50,550.00, a P/E ratio of 12.46, a P/E/G ratio of 2.19 and a beta of 1.06.

Hedge funds have recently added to or reduced their stakes in the company. Aperio Group LLC boosted its position in shares of Bank Of Montreal by 2.3% during the 3rd quarter. Aperio Group LLC now owns 403,344 shares of the bank’s stock worth $30,537,000 after purchasing an additional 9,170 shares in the last quarter. USS Investment Management Ltd bought a new position in Bank Of Montreal in the 2nd quarter valued at about $6,314,000. Blair William & Co. IL lifted its position in Bank Of Montreal by 6.5% in the 2nd quarter. Blair William & Co. IL now owns 16,738 shares of the bank’s stock valued at $1,229,000 after acquiring an additional 1,023 shares in the last quarter. Intact Investment Management Inc. lifted its position in Bank Of Montreal by 106.6% in the 2nd quarter. Intact Investment Management Inc. now owns 575,323 shares of the bank’s stock valued at $54,782,000 after acquiring an additional 296,840 shares in the last quarter. Finally, Greystone Managed Investments Inc. lifted its position in Bank Of Montreal by 16.9% in the 3rd quarter. Greystone Managed Investments Inc. now owns 621,311 shares of the bank’s stock valued at $46,912,000 after acquiring an additional 90,023 shares in the last quarter. 42.50% of the stock is currently owned by institutional investors.

The business 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 $0.717 per share. This represents a $2.87 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date of this dividend is Tuesday, October 31st. This is a boost from Bank Of Montreal’s previous quarterly dividend of $0.66. Bank Of Montreal’s dividend payout ratio is 45.00%.

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 (NYSE:BMO)

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