Bank Of Montreal (NYSE:BMO) Given Average Rating of “Hold” by Brokerages

Shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) have been given an average rating of “Hold” by the thirteen brokerages that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $163.00.

A number of equities research analysts have commented on the company. Desjardins reiterated a “hold” rating on shares of Bank Of Montreal in a research note on Thursday, May 28th. Zacks Research downgraded shares of Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Raymond James Financial reaffirmed an “outperform” rating on shares of Bank Of Montreal in a research report on Tuesday, May 12th. TD Securities reiterated a “buy” rating on shares of Bank Of Montreal in a research note on Thursday, May 28th. Finally, Scotiabank reissued an “outperform” rating on shares of Bank Of Montreal in a research report on Tuesday, June 16th.

Bank Of Montreal Stock Performance

Shares of BMO stock opened at $180.72 on Friday. Bank Of Montreal has a 12-month low of $112.21 and a 12-month high of $184.21. The business’s fifty day simple moving average is $174.11 and its 200-day simple moving average is $155.07. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.11. The company has a market cap of $126.28 billion, a PE ratio of 19.18, a PEG ratio of 1.01 and a beta of 0.94.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings data on Wednesday, May 27th. The bank reported $2.68 earnings per share for the quarter, topping analysts’ consensus estimates of $2.54 by $0.14. Bank Of Montreal had a return on equity of 13.04% and a net margin of 12.60%.The firm had revenue of $7.04 billion during the quarter, compared to analysts’ expectations of $6.98 billion. During the same quarter last year, the firm earned $2.62 EPS. The business’s quarterly revenue was up 10.2% on a year-over-year basis. Analysts expect that Bank Of Montreal will post 11.82 earnings per share for the current fiscal year.

Bank Of Montreal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Thursday, July 30th will be paid a dividend of $1.71 per share. The ex-dividend date is Thursday, July 30th. This is an increase from Bank Of Montreal’s previous quarterly dividend of $1.67. This represents a $6.84 annualized dividend and a dividend yield of 3.8%. Bank Of Montreal’s payout ratio is presently 51.06%.

Hedge Funds Weigh In On Bank Of Montreal

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BMO. WFA of San Diego LLC acquired a new stake in Bank Of Montreal during the 2nd quarter worth about $28,000. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Bank Of Montreal in the fourth quarter worth about $29,000. Larson Financial Group LLC raised its stake in shares of Bank Of Montreal by 466.7% in the third quarter. Larson Financial Group LLC now owns 238 shares of the bank’s stock worth $31,000 after purchasing an additional 196 shares during the last quarter. Flagship Harbor Advisors LLC acquired a new stake in shares of Bank Of Montreal during the fourth quarter worth about $34,000. Finally, Western Wealth Management LLC acquired a new stake in shares of Bank Of Montreal during the first quarter worth about $38,000. Hedge funds and other institutional investors own 45.82% of the company’s stock.

About Bank Of Montreal

Bank of Montreal (NYSE:BMO), commonly known as BMO Financial Group, is one of Canada’s largest and longest-established banks. Founded in Montreal and headquartered in Montreal, Quebec, the bank provides a broad range of financial services to retail, commercial, corporate and institutional clients. BMO is publicly listed in both Canada and the United States and operates under a consolidated financial services model that integrates banking, capital markets, wealth management and asset management activities.

BMO’s core businesses include personal and commercial banking—offering checking and savings accounts, lending, mortgages, and small-business services—alongside wealth management and private banking through its asset and investment management divisions.