Brokers Set Expectations for Bank of Montreal’s FY2024 Earnings (TSE:BMO)

Bank of Montreal (TSE:BMO) (NYSE:BMO) – Stock analysts at Cormark decreased their FY2024 earnings per share (EPS) estimates for shares of Bank of Montreal in a report released on Wednesday, August 28th. Cormark analyst L. Persaud now anticipates that the bank will post earnings of $10.16 per share for the year, down from their previous estimate of $10.61. The consensus estimate for Bank of Montreal’s current full-year earnings is $11.47 per share.

Several other research firms have also issued reports on BMO. CIBC lowered their target price on shares of Bank of Montreal from C$120.00 to C$116.00 and set a “neutral” rating for the company in a report on Wednesday, August 28th. Royal Bank of Canada reduced their price objective on shares of Bank of Montreal from C$118.00 to C$106.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 28th. Jefferies Financial Group dropped their target price on Bank of Montreal from C$141.00 to C$124.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Barclays decreased their price target on Bank of Montreal from C$140.00 to C$132.00 and set an “overweight” rating for the company in a research note on Thursday, May 30th. Finally, National Bankshares reduced their target price on Bank of Montreal from C$131.00 to C$127.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 28th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of C$121.00.

Bank of Montreal Stock Up 0.7 %

Shares of BMO opened at C$112.71 on Monday. Bank of Montreal has a 52-week low of C$102.67 and a 52-week high of C$133.95. The company has a market cap of C$82.21 billion, a PE ratio of 12.97, a P/E/G ratio of 0.54 and a beta of 1.16. The business has a fifty day moving average of C$116.04 and a 200 day moving average of C$122.42.

Bank of Montreal Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Wednesday, October 30th will be given a dividend of $1.55 per share. The ex-dividend date is Wednesday, October 30th. This represents a $6.20 annualized dividend and a yield of 5.50%. Bank of Montreal’s dividend payout ratio (DPR) 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.