What is Cormark’s Forecast for BMO Q4 Earnings?

Bank of Montreal (NYSE:BMO) (TSE:BMO) – Research analysts at Cormark issued their Q4 2024 earnings estimates for shares of Bank of Montreal in a note issued to investors on Monday, November 25th. Cormark analyst L. Persaud forecasts that the bank will post earnings of $1.74 per share for the quarter. The consensus estimate for Bank of Montreal’s current full-year earnings is $7.40 per share.

Several other equities analysts have also issued reports on BMO. Scotiabank lowered shares of Bank of Montreal from a “sector outperform” rating to a “sector perform” rating and decreased their price target for the company from $123.00 to $112.00 in a report on Wednesday, August 28th. StockNews.com lowered shares of Bank of Montreal from a “hold” rating to a “sell” rating in a report on Thursday, August 29th. TD Securities lowered shares of Bank of Montreal from a “buy” rating to a “hold” rating in a report on Tuesday, August 27th. Barclays decreased their price target on shares of Bank of Montreal from $132.00 to $126.00 and set an “overweight” rating for the company in a report on Wednesday, August 28th. Finally, Bank of America lowered shares of Bank of Montreal from a “buy” rating to a “neutral” rating and decreased their price target for the company from $134.00 to $117.00 in a report on Wednesday, August 28th. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $119.75.

Bank of Montreal Price Performance

BMO opened at $94.40 on Wednesday. The company has a fifty day moving average price of $92.18 and a two-hundred day moving average price of $88.24. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.98 and a current ratio of 0.98. Bank of Montreal has a 52 week low of $76.98 and a 52 week high of $100.12. The firm has a market capitalization of $68.87 billion, a PE ratio of 14.87, a P/E/G ratio of 2.57 and a beta of 1.10.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last released its earnings results on Tuesday, August 27th. The bank reported $2.64 EPS for the quarter, missing analysts’ consensus estimates of $2.76 by ($0.12). Bank of Montreal had a return on equity of 11.23% and a net margin of 8.50%. The business had revenue of $8.21 billion for the quarter, compared to analyst estimates of $8.25 billion. During the same period in the prior year, the firm posted $2.08 EPS. Bank of Montreal’s revenue was up .2% on a year-over-year basis.

Institutional Investors Weigh In On Bank of Montreal

Several institutional investors have recently added to or reduced their stakes in BMO. Healthcare of Ontario Pension Plan Trust Fund lifted its position in Bank of Montreal by 261.6% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,249,552 shares of the bank’s stock valued at $383,449,000 after acquiring an additional 3,074,389 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in Bank of Montreal by 138.4% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,851,629 shares of the bank’s stock worth $407,282,000 after buying an additional 2,816,385 shares in the last quarter. Toronto Dominion Bank lifted its position in Bank of Montreal by 14.9% during the 3rd quarter. Toronto Dominion Bank now owns 11,812,353 shares of the bank’s stock worth $1,065,474,000 after buying an additional 1,534,508 shares in the last quarter. JARISLOWSKY FRASER Ltd lifted its position in Bank of Montreal by 36.9% during the 2nd quarter. JARISLOWSKY FRASER Ltd now owns 5,239,662 shares of the bank’s stock worth $439,705,000 after buying an additional 1,412,532 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new stake in Bank of Montreal during the 2nd quarter worth about $80,915,000. 45.82% of the stock is owned by institutional investors.

Bank of Montreal Company Profile

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.