Bank Of Montreal (BMO) Announces Quarterly Earnings Results

The Bank of Montreal in Toronto's Financial District on Tuesday

Analysts await Bank Of Montreal (NASDAQ:BMO) to report earnings on Dec, 05 for the fiscal quarter ending Oct 2017. The firm owned 49,400 shares of the bank's stock after selling 108,000 shares during the period.

Laurentian Bank (LB.TO) also raised its dividend, but reported net income was up sharply in the fourth quarter.

In terms of earnings per share, 12 analysts have a 1.97 EPS mean target for the quarter ending Oct-17, for the quarter ending Jan-18, 8 analysts have a 1.98 EPS mean target and for the quarter ending Jan-18 there are 10 estimates of 7.91 EPS. Acadian Asset Management LLC raised its position in shares of Bank of Montreal by 12.8% in the first quarter. CIBC Asset Management Inc now owns 7,059,573 shares of the bank's stock worth $532,857,000 after purchasing an additional 1,731,928 shares during the last quarter. For the past month, Bank of Montreal's stock has been 1.15%, 8.83% for the last quarter, 16.13% for the past six months and 16.82% for the past 52 weeks. Arrowstreet Capital Limited Partnership increased its stake in shares of Bank Of Montreal by 123.5% in the 2nd quarter.

On an adjusted basis, BMO said it earned $1.31 billion or $1.94 per share, down from almost $1.4 billion or $2.10 per share a year ago. Finally, Scotia Capital Inc. increased its stake in shares of Bank Of Montreal by 50.2% in the 2nd quarter. Several research analysts have recently issued reports on the company. CIBC boosted their target price on shares of Bank of Montreal from C$100.00 to C$107.00 in a research note on Monday, November 13th. Finally, Scotiabank cut their target price on shares of Bank of Montreal from C$103.00 to C$101.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 30th. BidaskClub upgraded shares of Bank Of Montreal from a "sell" rating to a "hold" rating in a research note on Saturday, August 19th. They issued a "neutral" rating and a $81.00 price target on the stock. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company now has an average rating of "Hold" and an average price target of $97.60. The company has a market capitalization of $43.74 billion, a P/E ratio of 11.4958 and a beta of 1.06.

BMO's common equity tier 1 ratio was 11.4 per cent at October 31, up from 11.2 per cent at the end of its third quarter.

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Based on current stock levels, Bank of Montreal shares are trading -1.28% off of the 50-day high and 4.28% away from the 50-day low.

COPYRIGHT VIOLATION NOTICE: "Bank Of Montreal (BMO) Announces Quarterly Earnings Results" was originally reported by TrueBlueTribune and is owned by of TrueBlueTribune. If you are reading this piece on another website, it was stolen and republished in violation of United States & worldwide copyright legislation. The legal version of this news story can be accessed at https://www.thelincolnianonline.com/2017/12/05/bank-of-montreal-bmo-shares-sold-by-skandinaviska-enskilda-banken-ab-publ.html.

About Bank of Montreal Bank of Montreal (the Bank) is a financial services provider.

Net income from BMO's Canadian personal and commercial banking unit rose 6 percent to C$624 million ($493.5 million) in the fourth quarter due to higher balances across most products.

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