National Bank Financial Research Analysts Raise Earnings Estimates for Bank of Montreal (BMO)

Bank of Montreal (TSE:BMO) (NYSE:BMO) – National Bank Financial lifted their Q1 2019 earnings estimates for shares of Bank of Montreal in a research note issued on Monday, November 19th. National Bank Financial analyst G. Dechaine now anticipates that the bank will post earnings of $2.29 per share for the quarter, up from their prior forecast of $2.28. National Bank Financial currently has a “Outperform” rating and a $115.00 target price on the stock. National Bank Financial also issued estimates for Bank of Montreal’s Q2 2019 earnings at $2.14 EPS.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last posted its quarterly earnings results on Tuesday, August 28th. The bank reported C$2.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$2.27 by C$0.09. The company had revenue of C$5.82 billion during the quarter, compared to analysts’ expectations of C$5.71 billion.

Other analysts have also issued reports about the stock. CIBC increased their price target on shares of Bank of Montreal from C$109.00 to C$111.00 in a research report on Wednesday, August 29th. Canaccord Genuity raised shares of Bank of Montreal from a “hold” rating to a “buy” rating and increased their price target for the stock from C$111.00 to C$118.00 in a research report on Wednesday, August 29th. Eight Capital increased their price target on shares of Bank of Montreal from C$119.00 to C$124.00 in a research report on Wednesday, August 29th. Royal Bank of Canada increased their price target on shares of Bank of Montreal from C$124.00 to C$126.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 29th. Finally, Barclays reduced their price target on shares of Bank of Montreal from C$110.00 to C$105.00 in a research report on Friday, November 16th. Six equities research analysts have rated the stock with a buy rating, The stock presently has an average rating of “Buy” and a consensus price target of C$113.75.

TSE BMO opened at C$97.69 on Thursday. Bank of Montreal has a 52-week low of C$93.60 and a 52-week high of C$109.00.

In related news, Director Thomas Earl Flynn sold 39,784 shares of the firm’s stock in a transaction that occurred on Friday, August 31st. The shares were sold at an average price of C$106.82, for a total transaction of C$4,249,726.88. Also, insider Jean-Michel Ares sold 57,356 shares of the firm’s stock in a transaction that occurred on Friday, September 21st. The shares were sold at an average price of C$108.46, for a total transaction of C$6,220,831.76. In the last ninety days, insiders have sold 102,140 shares of company stock worth $11,006,409.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 27th. Investors of record on Thursday, November 1st will be given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 3.93%. The ex-dividend date is Wednesday, October 31st. Bank of Montreal’s payout ratio is presently 50.28%.

About Bank of Montreal

Bank of Montreal provides diversified financial services primarily in North America. It operates through three groups: Personal and Commercial Banking, Wealth Management, and BMO Capital Markets. The company's personal banking products and services include checking and savings accounts, credit cards, mortgages, creditor insurance products, 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, and specialized banking programs for small business and commercial banking customers.

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Earnings History and Estimates for Bank of Montreal (TSE:BMO)

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