The FY 2024 EPS estimates for Bank of Montreal (NYSE:BMO) were lowered by Desjardins

Bank of Montreal (NYSE:BMO – Free Report) (TSE:BMO) – Research analysts at Desjardins dropped their FY2024 earnings per share (EPS) estimates for shares of Bank of Montreal in a research note issued to investors on Tuesday, February 6th. Desjardins expert D. Young now expects the bank to post earnings of $8.95 per share, down from their prior estimate of $9.02. The consensus estimate for Bank of Montreal's current full-year earnings is $9.15 per share.

Bank of Montreal (NYSE:BMO – Get Free Report ) (TSE:BMO) last issued its quarterly earnings data on Friday, December 1st. The bank reported $2.07 EPS for the quarter, hitting analysts' consensus estimates of $2.07. The firm's revenue for the quarter was $6.16 billion. Bank of Montreal had a return on equity of 12.55% and a net margin of 6.41%.

BMO has been the subject of a number of other reports. StockNews.com raised Bank of Montreal from a “sell” rating to a “hold” rating in a report on Wednesday, January 31st. National Bank raised Bank of Montreal from a “sector perform” rating to an “outperform” rating in a report on Financial Wednesday, December 20th. Finally, Bank of America raised Bank of Montreal from a “neutral” rating to a “buy” rating in a research note on Monday, December 18th.

Check out our latest research report on BMO

Bank of Montreal Stock Performance

Shares of BMO stock opened at $92.64 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.96, and a current ratio of 0.96. The stock has a 50-day moving average of $94.22 and a two-hundred-day moving average of $87.09. The firm has a market cap of $67.20 billion, a P/E ratio of 22.16, a P/E/G ratio of 1.50 and a beta of 1.15. Bank of Montreal has a 52-week low of $73.98 and a 52-week high of $102.00.

Bank of Montreal increases dividend

The firm recently announced a quarterly dividend, which will be paid on Tuesday, February 27th. Stockholders of record on Tuesday, January 30th will be paid a $1.1137 dividend. This represents a dividend of $4.45 on an annualized basis and a dividend yield of 4.81%. The ex-dividend date for this dividend is Monday, January 29. This is an increase from Bank of Montreal's previous quarterly dividend of $1.11. Bank of Montreal's payout ratio is currently 103.59%.

Hedge funds weigh on Bank of Montreal

A number of hedge funds and other institutional investors have recently modified their holdings of BMO. Cambridge Investment Research Advisors Inc. grew its stake in shares of Bank of Montreal by 3.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 7,432 shares of the bank’s stock valued at $877,000 after buying an additional 219 shares during the last quarter. BlackRock Inc. grew its holdings in Bank of Montreal by 5.5% in the first quarter. BlackRock Inc. after purchasing an additional 22,030 shares during the period. now owns 426,005 shares of the bank's stock, valued at $50,256,000. Sequoia Financial Advisors LLC bought a new position in Bank of Montreal during the first quarter valued at $225,000. Vanguard Group Inc. grew its stake in Bank of Montreal by 6.1% in the first quarter. Vanguard Group Inc. now owns 22,478,058 shares of the bank’s stock valued at $2,651,736,000 after purchasing an additional 1,293,280 shares during the period. Finally, USS Investment Management Ltd grew its holdings in Bank of Montreal by 2.1% in the first quarter. USS Investment Management Ltd now owns 145,939 shares of the bank’s stock valued at $17,199,000 after purchasing an additional 3,071 shares during the period. Hedge funds and other institutional investors own 43.89% of the company's shares.

About the Bank of Montreal

(Get a free report)

Bank of Montreal provides diversified financial services primarily in North America. It operates through the Canadian P&C, US P&C, BMO Wealth Management and BMO Capital Markets segments. The company's personal banking products and services include deposits, mortgages, home loans, consumer loans, small business lending, credit cards, cash management, financial and investment advice and other banking services; and commercial banking products and services include a variety of financing options, treasury and payment solutions, and risk management products.

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