Bank Of Montreal (NYSE:BMO)‘s stock had its “sector perform” rating restated by stock analysts at RBC Capital Markets in a report released on Wednesday. They presently have a $88.00 target price on the stock. RBC Capital Markets’ target price would suggest a potential upside of 38.30% from the company’s current price.
A number of other brokerages have also recently issued reports on BMO. Rafferty Capital Markets raised Bank Of Montreal from a “hold” rating to a “buy” rating in a report on Thursday, June 9th. Zacks Investment Research cut Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 5th. Dundee Securities initiated coverage on Bank Of Montreal in a research note on Wednesday, September 21st. They issued a “neutral” rating for the company. National Bank Financial reissued a “sector perform” rating and issued a $88.00 price target (up previously from $84.00) on shares of Bank Of Montreal in a research note on Thursday, August 25th. Finally, Royal Bank Of Canada increased their price target on Bank Of Montreal from $84.00 to $88.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 24th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Bank Of Montreal has a consensus rating of “Hold” and a consensus target price of $83.89.
Shares of Bank Of Montreal (NYSE:BMO) opened at 63.63 on Wednesday. Bank Of Montreal has a 12 month low of $47.54 and a 12 month high of $67.69. The company has a 50-day moving average price of $65.62 and a 200-day moving average price of $63.95. The firm has a market cap of $41.04 billion, a price-to-earnings ratio of 12.50 and a beta of 1.00.
Bank Of Montreal (NYSE:BMO) last issued its earnings results on Tuesday, August 23rd. The company reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.11. Bank Of Montreal had a return on equity of 12.66% and a net margin of 17.82%. The business earned $5.63 billion during the quarter, compared to analysts’ expectations of $3.88 billion. During the same quarter in the prior year, the firm earned $1.86 EPS. The business’s revenue for the quarter was up 16.7% compared to the same quarter last year. Analysts forecast that Bank Of Montreal will post $5.50 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, November 28th. Shareholders of record on Tuesday, November 1st will be issued a $0.6696 dividend. The ex-dividend date of this dividend is Friday, October 28th. This represents a $2.68 annualized dividend and a yield of 4.21%. This is a positive change from Bank Of Montreal’s previous quarterly dividend of $0.66. Bank Of Montreal’s dividend payout ratio is presently 52.47%.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Parametric Risk Advisors LLC purchased a new position in shares of Bank Of Montreal during the first quarter valued at about $7,884,000. Quadrature Capital Ltd purchased a new position in shares of Bank Of Montreal during the first quarter valued at about $3,493,000. Bank of Nova Scotia Trust Co. raised its position in shares of Bank Of Montreal by 2.8% in the first quarter. Bank of Nova Scotia Trust Co. now owns 505,658 shares of the company’s stock valued at $30,688,000 after buying an additional 13,900 shares during the last quarter. BB&T Securities LLC raised its position in shares of Bank Of Montreal by 9.7% in the first quarter. BB&T Securities LLC now owns 27,001 shares of the company’s stock valued at $1,638,000 after buying an additional 2,378 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp raised its position in shares of Bank Of Montreal by 8.7% in the first quarter. OMERS ADMINISTRATION Corp now owns 1,732,297 shares of the company’s stock valued at $105,629,000 after buying an additional 138,000 shares during the last quarter. Institutional investors and hedge funds own 48.03% of the company’s stock.
Bank Of Montreal Company Profile
Bank of Montreal (BMO) is a financial services company. The Bank provides a range of personal and commercial banking, wealth management and investment banking products and services. The Bank’s operating groups include Personal and Commercial Banking, Wealth Management, BMO Capital Markets (BMO CM) and Corporate Services, including Technology and Operations.
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