Bank of Montreal (TSE:BMO – Get Rating) (NYSE:BMO) – Research analysts at Cormark dropped their FY2023 earnings per share estimates for Bank of Montreal in a report issued on Monday, December 19th. Cormark analyst L. Persaud now anticipates that the bank will post earnings per share of $13.69 for the year, down from their prior estimate of $14.19. The consensus estimate for Bank of Montreal’s current full-year earnings is $14.99 per share. Cormark also issued estimates for Bank of Montreal’s FY2024 earnings at $14.23 EPS.
Several other brokerages also recently issued reports on BMO. Keefe, Bruyette & Woods raised their price objective on shares of Bank of Montreal from C$158.00 to C$160.00 in a research report on Friday, December 2nd. Scotiabank cut their price objective on shares of Bank of Montreal from C$159.00 to C$156.00 in a research report on Tuesday, November 22nd. Canaccord Genuity Group raised their price objective on shares of Bank of Montreal from C$148.00 to C$151.00 in a research report on Friday, December 2nd. TD Securities raised their price objective on shares of Bank of Montreal from C$145.00 to C$150.00 and gave the stock a “buy” rating in a research report on Friday, December 2nd. Finally, Veritas Investment Research downgraded shares of Bank of Montreal from a “buy” rating to a “reduce” rating and set a C$134.00 price objective for the company. in a research report on Wednesday, August 31st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of C$150.96.
Bank of Montreal Stock Up 1.3 %
Shares of BMO stock opened at C$121.68 on Wednesday. The firm has a 50 day moving average price of C$126.84 and a two-hundred day moving average price of C$126.43. The company has a market capitalization of C$85.58 billion and a PE ratio of 6.09. Bank of Montreal has a 12-month low of C$113.73 and a 12-month high of C$154.47.
Bank of Montreal Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 28th. Investors of record on Monday, January 30th will be paid a $1.43 dividend. This represents a $5.72 dividend on an annualized basis and a yield of 4.70%. This is a boost from Bank of Montreal’s previous quarterly dividend of $1.39. The ex-dividend date is Friday, January 27th. Bank of Montreal’s dividend payout ratio (DPR) is 27.21%.
About Bank of Montreal
Bank of Montreal provides diversified financial services primarily in North America. The company’s personal banking products and services include checking and savings accounts, credit cards, mortgages, and financial and investment advice services; and commercial banking products and services comprise business deposit accounts, commercial credit cards, business loans and commercial mortgages, cash management solutions, foreign exchange, specialized banking programs, treasury and payment solutions, and risk management products for small business and commercial banking customers.
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