Bank of Montreal (NYSE:BMO – Get Rating) (TSE:BMO) – Equities research analysts at National Bank Financial cut their Q3 2023 earnings per share (EPS) estimates for shares of Bank of Montreal in a report released on Wednesday, May 24th. National Bank Financial analyst G. Dechaine now expects that the bank will post earnings of $2.14 per share for the quarter, down from their previous forecast of $2.41. The consensus estimate for Bank of Montreal’s current full-year earnings is $9.79 per share. National Bank Financial also issued estimates for Bank of Montreal’s Q4 2023 earnings at $2.24 EPS, FY2023 earnings at $8.93 EPS and FY2024 earnings at $9.43 EPS.
Bank of Montreal (NYSE:BMO – Get Rating) (TSE:BMO) last posted its earnings results on Tuesday, February 28th. The bank reported $2.39 earnings per share for the quarter, beating the consensus estimate of $2.33 by $0.06. The company had revenue of $4.80 billion for the quarter. Bank of Montreal had a return on equity of 13.65% and a net margin of 22.13%.
Bank of Montreal Stock Down 0.1 %
BMO stock opened at $82.89 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.98 and a quick ratio of 0.98. The company’s 50 day simple moving average is $88.22 and its 200-day simple moving average is $93.16. Bank of Montreal has a 12 month low of $81.57 and a 12 month high of $110.67. The firm has a market capitalization of $59.12 billion, a PE ratio of 6.76, a P/E/G ratio of 1.76 and a beta of 1.14.
Bank of Montreal Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, August 28th. Shareholders of record on Friday, July 28th will be paid a dividend of $1.085 per share. The ex-dividend date is Thursday, July 27th. This represents a $4.34 dividend on an annualized basis and a yield of 5.24%. This is an increase from Bank of Montreal’s previous quarterly dividend of $1.08. Bank of Montreal’s dividend payout ratio (DPR) is currently 34.50%.
Institutional Trading of Bank of Montreal
Institutional investors have recently made changes to their positions in the stock. National Bank of Canada FI raised its position in shares of Bank of Montreal by 388.4% in the 4th quarter. National Bank of Canada FI now owns 10,585,573 shares of the bank’s stock worth $958,631,000 after buying an additional 8,418,353 shares during the period. Norges Bank purchased a new position in shares of Bank of Montreal in the 4th quarter worth about $561,431,000. Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of Bank of Montreal by 64.3% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 5,386,576 shares of the bank’s stock valued at $487,632,000 after purchasing an additional 2,107,925 shares in the last quarter. Toronto Dominion Bank increased its position in Bank of Montreal by 20.6% during the 1st quarter. Toronto Dominion Bank now owns 12,305,752 shares of the bank’s stock worth $1,097,768,000 after purchasing an additional 2,100,110 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in Bank of Montreal by 7.5% in the third quarter. Vanguard Group Inc. now owns 24,179,597 shares of the bank’s stock valued at $2,119,100,000 after buying an additional 1,688,352 shares during the period. 42.78% of the stock is owned by hedge funds and other institutional investors.
About Bank of Montreal
Bank of Montreal engages in the provision of banking and financial services to individuals and institutions. It operates through the following segments: Canadian Personal and Commercial Banking (Canadian P&C) and United States Personal and Commercial Banking (U.S. P&C). The Canadian P&C segment refers to retail banking and financial operations in Canada.
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