Cormark Research Analysts Cut Earnings Estimates for Bank of Montreal (NYSE:BMO)
Bank of Montreal (NYSE:BMO – Free Report) (TSE:BMO) – Stock analysts at Cormark reduced their FY2025 earnings estimates for Bank of Montreal in a research note issued to investors on Monday, December 4th. Cormark analyst L. Persaud now expects that the bank will earn $9.63 per share for the year, down from their prior estimate of $9.68. The consensus estimate for Bank of Montreal’s current full-year earnings is $9.14 per share.
Other equities research analysts also recently issued research reports about the company. Barclays increased their price objective on Bank of Montreal from $123.00 to $131.00 and gave the stock an “overweight” rating in a research report on Monday, August 21st. StockNews.com began coverage on Bank of Montreal in a report on Thursday, October 5th. They issued a “sell” rating on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $139.25.
Read Our Latest Stock Analysis on BMO
Bank of Montreal Stock Performance
NYSE BMO opened at $84.35 on Tuesday. The company’s 50 day simple moving average is $80.11 and its two-hundred day simple moving average is $85.16. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.96 and a quick ratio of 0.96. Bank of Montreal has a 1 year low of $73.98 and a 1 year high of $102.79. The stock has a market capitalization of $60.81 billion, a PE ratio of 20.18, a P/E/G ratio of 1.32 and a beta of 1.15.
Institutional Investors Weigh In On Bank of Montreal
Hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its holdings in shares of Bank of Montreal by 7.4% during the 3rd quarter. Wellington Management Group LLP now owns 125,927 shares of the bank’s stock valued at $10,672,000 after buying an additional 8,685 shares in the last quarter. American Century Companies Inc. grew its position in Bank of Montreal by 8.9% during the third quarter. American Century Companies Inc. now owns 110,345 shares of the bank’s stock valued at $9,309,000 after acquiring an additional 9,000 shares during the last quarter. Creative Planning raised its stake in shares of Bank of Montreal by 27.2% during the third quarter. Creative Planning now owns 29,385 shares of the bank’s stock worth $2,479,000 after acquiring an additional 6,279 shares in the last quarter. Morgan Stanley lifted its holdings in shares of Bank of Montreal by 49.4% in the 3rd quarter. Morgan Stanley now owns 1,754,961 shares of the bank’s stock worth $148,066,000 after acquiring an additional 580,390 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its stake in shares of Bank of Montreal by 9.2% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 9,009 shares of the bank’s stock valued at $760,000 after purchasing an additional 757 shares in the last quarter. Institutional investors own 43.89% of the company’s stock.
Bank of Montreal Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 27th. Investors of record on Tuesday, January 30th will be paid a $1.1137 dividend. This represents a $4.45 dividend on an annualized basis and a yield of 5.28%. The ex-dividend date of this dividend is Monday, January 29th. This is a boost from Bank of Montreal’s previous quarterly dividend of $1.11. Bank of Montreal’s dividend payout ratio is currently 103.59%.
Bank of Montreal Company Profile (Get Free Report)
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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