Bank of Montreal (NYSE:BMO) (TSE:BMO) released its earnings results on Tuesday. The bank reported $2.43 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.61, Briefing.com reports. The business had revenue of $6.09 billion during the quarter, compared to analysts’ expectations of $5.86 billion. Bank of Montreal had a net margin of 16.48% and a return on equity of 14.14%. The firm’s revenue was up 3.3% on a year-over-year basis. During the same period last year, the business earned $2.32 earnings per share.
BMO opened at $74.32 on Wednesday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. Bank of Montreal has a 12-month low of $62.79 and a 12-month high of $79.35. The business has a 50 day moving average of $75.42 and a 200-day moving average of $74.03. The stock has a market cap of $49.18 billion, a price-to-earnings ratio of 10.63, a PEG ratio of 1.94 and a beta of 1.19.
BMO has been the topic of several analyst reports. Credit Suisse Group raised shares of Bank of Montreal from an “underperform” rating to a “neutral” rating and set a $93.00 price target on the stock in a research report on Friday, September 6th. ValuEngine raised shares of Bank of Montreal from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Scotiabank restated a “hold” rating on shares of Bank of Montreal in a research note on Tuesday, August 20th. Finally, Zacks Investment Research lowered shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research note on Monday, November 18th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $96.00.
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, 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, as well as wealth management products and services, such as insurance products.
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