National Bank keeps up the banks' blockbuster earnings by handily beating expectations
- Author: Zachary Reyes Mar 02, 2017,
Mar 02, 2017, 4:28
Bank of Montreal (TSE:BMO) (NYSE:BMO) had its target price increased by stock analysts at CIBC from C$101.00 to C$104.00 in a report released on Wednesday.
In terms of earnings per share, 12 analysts have a 1.88 EPS mean target for the quarter ending Jan-17, for the quarter ending Apr-17, 11 analysts have a 1.90 EPS mean target and for the quarter ending Apr-17 there are 13 estimates of 7.78 EPS.
During the same period previous year, BMO had $1.07 billion of quarterly profit.
Bank of Montreal (TSE:BMO) traded up 1.21% during mid-day trading on Wednesday, hitting $102.01. The company has a market cap of $49.51 billion, a price-to-earnings ratio of 14.44 and a beta of 1.06.
National Bank of Canada shares have increased 5 percent since the beginning of the year.
The real crème de la crème of dividend payers not only consistently pay their shareholders they also increase their dividends-per-share (DPS) on a regular basis. CSFB dropped their price objective on Bank of Montreal from C$100.00 to C$93.00 in a report on Tuesday, January 17th. Stockholders of record on Monday, May 1st will be paid a dividend of $0.88 per share. Bank of America Corp decreased their target price on Bank of Montreal from C$100.00 to C$95.00 in a report on Wednesday, December 7th.
There are 1 sell rating, 10 hold ratings, 1 buy rating on the stock. This represents a $2.62 annualized dividend and a dividend yield of 3.43%. The company has an average rating of "Hold" and an average target price of $86.91.
National Bank of Canada reported a better-than-expected quarterly profit on Wednesday, largely boosted by its wealth management and personal and commercial businesses.
Glickman lifted his fiscal year ending October EPS expectations on Bank of Montreal by 24 cents to $6.16. The Bank conducts its business through three operating groups: Personal and Commercial Banking (P&C), Wealth Management and BMO Capital Markets.