National Bank Financial Forecasts TSE:BMO FY2024 Earnings

Bank of Montreal (TSE:BMO) (NYSE:BMO) – Stock analysts at National Bank Financial dropped their FY2024 earnings per share estimates for Bank of Montreal in a research report issued on Tuesday, November 19th. National Bank Financial analyst G. Dechaine now anticipates that the bank will post earnings per share of $10.20 for the year, down from their previous forecast of $10.31. The consensus estimate for Bank of Montreal’s current full-year earnings is $9.65 per share. National Bank Financial also issued estimates for Bank of Montreal’s Q4 2024 earnings at $2.42 EPS, FY2025 earnings at $11.35 EPS and FY2026 earnings at $12.88 EPS.

Several other research analysts have also issued reports on the company. CIBC increased their price objective on Bank of Montreal from C$116.00 to C$120.00 in a research note on Friday, September 6th. Royal Bank of Canada dropped their target price on shares of Bank of Montreal from C$118.00 to C$106.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 28th. Cormark reduced their price target on shares of Bank of Montreal from C$129.00 to C$118.00 in a research report on Wednesday, August 28th. TD Securities upped their price objective on shares of Bank of Montreal from C$114.00 to C$131.00 in a research note on Friday, November 15th. Finally, Desjardins cut their target price on shares of Bank of Montreal from C$125.00 to C$120.00 and set a “hold” rating for the company in a research note on Wednesday, August 28th. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of C$124.69.

Bank of Montreal Trading Up 0.1 %

Shares of BMO opened at C$131.48 on Thursday. The stock has a market cap of C$95.90 billion, a PE ratio of 15.13, a PEG ratio of 0.71 and a beta of 1.16. Bank of Montreal has a 1 year low of C$107.16 and a 1 year high of C$133.95. The stock has a 50 day simple moving average of C$124.95 and a 200-day simple moving average of C$121.00.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last posted its quarterly earnings results on Tuesday, August 27th. The bank reported C$2.64 earnings per share (EPS) for the quarter, missing the consensus estimate of C$2.72 by C($0.08). The business had revenue of C$8.19 billion during the quarter, compared to analyst estimates of C$8.23 billion. Bank of Montreal had a return on equity of 8.49% and a net margin of 21.20%.

Insider Activity

In related news, Senior Officer David Robert Casper sold 12,819 shares of the stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of C$121.85, for a total value of C$1,562,007.97. Also, Senior Officer Steven Lloyd Tennyson sold 7,908 shares of Bank of Montreal stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of C$112.16, for a total transaction of C$886,977.10. Insiders own 0.03% of the company’s stock.

Bank of Montreal Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 26th will be given a dividend of $1.55 per share. The ex-dividend date is Wednesday, October 30th. This represents a $6.20 dividend on an annualized basis and a yield of 4.72%. Bank of Montreal’s payout ratio is presently 71.35%.

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.