Scotiabank reiterated their sector perform rating on shares of Bank Of Montreal (NYSE:BMO) in a research note published on Tuesday morning. The firm currently has a $86.00 price objective on the stock.
BMO has been the topic of a number of other reports. Credit Suisse Group AG cut Bank Of Montreal from a neutral rating to an underperform rating in a research report on Tuesday, October 4th. Dundee Securities initiated coverage on Bank Of Montreal in a research report on Wednesday, September 21st. They set a neutral rating on the stock. National Bank Financial restated a sector perform rating and set a $88.00 target price (up from $84.00) on shares of Bank Of Montreal in a research report on Thursday, August 25th. Zacks Investment Research upgraded Bank Of Montreal from a hold rating to a buy rating and set a $71.00 price objective on the stock in a report on Thursday, August 4th. Finally, Desjardins reiterated a hold rating and issued a $86.00 price objective (up from $84.00) on shares of Bank Of Montreal in a report on Thursday, August 25th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of Hold and an average target price of $83.89.
Shares of Bank Of Montreal (NYSE:BMO) opened at 65.10 on Tuesday. The stock has a market capitalization of $41.99 billion, a P/E ratio of 12.80 and a beta of 1.00. Bank Of Montreal has a 12 month low of $47.54 and a 12 month high of $67.69. The firm’s 50-day moving average price is $65.08 and its 200-day moving average price is $64.20.
Bank Of Montreal (NYSE:BMO) last posted its earnings results on Tuesday, August 23rd. The company reported $1.94 EPS for the quarter, beating the Zacks’ consensus estimate 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 firm had revenue of $5.63 billion for the quarter, compared to analysts’ expectations of $3.88 billion. During the same period last year, the firm earned $1.86 EPS. The company’s quarterly revenue was up 16.7% on a year-over-year basis. On average, equities research analysts forecast that Bank Of Montreal will post $5.50 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, November 28th. Stockholders of record on Tuesday, November 1st will be given a dividend of $0.6696 per share. This represents a $2.68 annualized dividend and a dividend yield of 4.12%. The ex-dividend date of this dividend is Friday, October 28th. This is a positive change from Bank Of Montreal’s previous quarterly dividend of $0.66. Bank Of Montreal’s payout ratio is presently 52.47%.
Several hedge funds have recently added to or reduced their stakes in BMO. Tower Research Capital LLC TRC raised its stake in Bank Of Montreal by 1,196.0% in the second quarter. Tower Research Capital LLC TRC now owns 1,931 shares of the company’s stock valued at $123,000 after buying an additional 1,782 shares during the last quarter. Americafirst Capital Management LLC purchased a new stake in shares of Bank Of Montreal during the second quarter worth about $145,000. Hudock Capital Group LLC raised its stake in shares of Bank Of Montreal by 0.3% in the second quarter. Hudock Capital Group LLC now owns 2,633 shares of the company’s stock worth $166,000 after buying an additional 9 shares during the last quarter. C M Bidwell & Associates Ltd. purchased a new stake in shares of Bank Of Montreal during the second quarter worth about $174,000. Finally, Stonebridge Capital Advisors LLC purchased a new stake in shares of Bank Of Montreal during the second quarter worth about $200,000. 48.02% of the stock is currently owned by hedge funds and other institutional investors.
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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