Bank of Montreal Q3 profit up on improved credit performance
BMO•Key details and analyst coverage
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q3 Revenue | Beat | C$9.90 bln | C$9.75 bln (10 Analysts) |
| Q3 Provision of credit loss | C$722 mln | ||
| Q3 ROE | 8.40% |
The current average analyst rating on the shares is hold, with 5 strong buy or buy, 9 hold, and 2 sell or strong sell recommendations.
The average consensus recommendation for the banks peer group is buy. Wall Street's median 12-month price target for Bank of Montreal is C$260.00, about 9% above its August 24 closing price of C$238.63. The stock recently traded at 15 times the next 12-month earnings, versus a P/E of 14 three months ago.
Lower credit losses supported results
Bank of Montreal said improved credit performance reflected proactive risk management and a well-diversified portfolio.
The bank did not provide specific financial guidance for upcoming quarters or the full year.
