FY2024 EPS Forecast for Bank of Montreal Boosted by Analyst

Bank of Montreal (TSE:BMO) (NYSE:BMO) – Cormark lifted their FY2024 earnings per share (EPS) estimates for shares of Bank of Montreal in a research note issued to investors on Monday, November 25th. Cormark analyst L. Persaud now forecasts that the bank will post earnings per share of $10.21 for the year, up from their previous forecast of $10.16. The consensus estimate for Bank of Montreal’s current full-year earnings is $9.65 per share. Cormark also issued estimates for Bank of Montreal’s Q4 2024 earnings at $2.42 EPS and FY2025 earnings at $11.25 EPS.

BMO has been the subject of several other research reports. National Bankshares upped their price target on shares of Bank of Montreal from C$127.00 to C$148.00 in a research report on Wednesday, November 20th. Royal Bank of Canada decreased their target price on 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. Scotiabank upped their price target on Bank of Montreal from C$112.00 to C$147.00 in a research report on Monday. Desjardins reduced their price objective on 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. Finally, Canaccord Genuity Group lifted their target price on Bank of Montreal from C$125.00 to C$143.00 in a research note on Tuesday, November 19th. Eight investment 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, Bank of Montreal presently has an average rating of “Hold” and an average target price of C$128.50.

Bank of Montreal Price Performance

Shares of BMO opened at C$133.21 on Wednesday. The company has a 50-day moving average of C$126.86 and a two-hundred day moving average of C$121.33. The stock has a market cap of C$97.16 billion, a price-to-earnings ratio of 15.33, a PEG ratio of 0.71 and a beta of 1.16. Bank of Montreal has a one year low of C$107.16 and a one year high of C$134.16.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last posted its quarterly earnings data 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). Bank of Montreal had a return on equity of 8.49% and a net margin of 21.20%. The company had revenue of C$8.19 billion for the quarter, compared to analyst estimates of C$8.23 billion.

Bank of Montreal Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 26th were paid a dividend of $1.55 per share. The ex-dividend date was Wednesday, October 30th. This represents a $6.20 annualized dividend and a dividend yield of 4.65%. Bank of Montreal’s dividend payout ratio (DPR) is 71.35%.

Insider Activity

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

About Bank of Montreal

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.