National Bank Financial Weighs in on TSE:BMO FY2024 Earnings

Bank of Montreal (TSE:BMO) (NYSE:BMO) – National Bank Financial lowered their FY2024 earnings estimates for shares of Bank of Montreal in a note issued to investors on Tuesday, November 19th. National Bank Financial analyst G. Dechaine now anticipates that the bank will post earnings per share of $10.20 for the year, down from their previous estimate of $10.31. The consensus estimate for Bank of Montreal’s current full-year earnings is $9.65 per share. National Bank Financial also issued estimates for Bank of Montreal’s Q4 2024 earnings at $2.42 EPS, FY2025 earnings at $11.35 EPS and FY2026 earnings at $12.88 EPS.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last posted its quarterly earnings data on Tuesday, August 27th. The bank reported C$2.64 EPS for the quarter, missing the consensus estimate of C$2.72 by C($0.08). The company had revenue of C$8.19 billion during the quarter, compared to the consensus estimate of C$8.23 billion. Bank of Montreal had a net margin of 21.20% and a return on equity of 8.49%.

Several other research firms have also recently commented on BMO. National Bankshares boosted their target price on Bank of Montreal from C$127.00 to C$148.00 in a research note on Wednesday. Cormark cut their price target on shares of Bank of Montreal from C$129.00 to C$118.00 in a research report on Wednesday, August 28th. Desjardins lowered their target price on Bank of Montreal from C$125.00 to C$120.00 and set a “hold” rating on the stock in a research report on Wednesday, August 28th. CIBC increased their price target on Bank of Montreal from C$116.00 to C$120.00 in a research report on Friday, September 6th. Finally, TD Securities upped their price objective on Bank of Montreal from C$114.00 to C$131.00 in a research note on Friday, November 15th. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of C$124.69.

Bank of Montreal Price Performance

Shares of Bank of Montreal stock opened at C$131.48 on Thursday. The firm has a market cap of C$95.90 billion, a price-to-earnings ratio of 15.13, a price-to-earnings-growth ratio of 0.71 and a beta of 1.16. Bank of Montreal has a one year low of C$107.16 and a one year high of C$133.95. The stock’s 50-day moving average is C$124.95 and its 200-day moving average is C$121.00.

Bank of Montreal Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 26th will be issued a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 4.72%. The ex-dividend date of this dividend is Wednesday, October 30th. Bank of Montreal’s dividend payout ratio is currently 71.35%.

Insider Activity

In other Bank of Montreal news, Senior Officer David Robert Casper sold 12,819 shares of the business’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of C$121.85, for a total transaction of C$1,562,007.97. Also, Senior Officer Steven Lloyd Tennyson sold 7,908 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of C$112.16, for a total value of C$886,977.10. Corporate insiders own 0.03% of the company’s stock.

About Bank of Montreal

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