The average 1 year target price among brokerages that have covered the stock in the last year is C$47.70.
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Bank of Montreal, Canada’s fourth-largest lender by assets, more than tripled its provision for credit losses in the energy sector for the May-to-July quarter to 58 million Canadian dollars ($44.8 million) from the year-ago period, while overall provisions rose 61% to C$257 million.
Average EPS forecast for the current year is $5.54 according to 8 analysts making projections for Bank of Montreal (USA) (NYSE:BMO). The bank’s USA personal and commercial lending business, which also generated higher loan and deposit volumes, increased revenue by 23%. About 926,138 shares traded hands or 74.42% up from the average. Credit Suisse Group AG upped their price objective on Bank of Montreal from C$90.00 to C$93.00 in a research report on Tuesday, May 3rd.
Bank of Montreal (USA) (NYSE:BMO)’s mean EPS estimate was $1.32 for the quarter ended on 10/2015, while it reported EPS of $1.44 on 12/1/2015 Before Market Open, beating the analysts’ consensus estimate by 0.12 with surprise factor of 9.09%. Stockholders of record on Monday, June 20th were paid a $0.55 dividend. The stock has a market cap of $12.07 billion and a P/E ratio of 13.6315. The ex-dividend date was Thursday, June 16th. The Hedge Fund company now holds 48 shares of RY which is valued at $2,966.Her Majesty The Queen In Right Of The Province Of Alberta… boosted its stake in RY in the latest quarter, The investment management firm added 458,400 additional shares and now holds a total of 2,061,287 shares of Royal Bank of Canada which is valued at $124,274,993. While revenue estimates for the current year is 3.96B, setting the highest revenues estimates of 4.13B and indicating lowest revenues at 3.85B according to agreement of 10 number of analysts.
In the quarter, TD Securities notes that Bank of Montreal shifted more of its loan exposure to more financially stable pipeline and other midstream operators from riskier oil and gas borrowers. The Bank provides a range of personal and commercial banking, wealth management and investment banking products and services.
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Aug 23 Bank of Montreal reported a 3 percent increase in quarterly earnings, ahead of market expectations, on strength in its retail and commercial banking and capital markets businesses.
