RBC Capital Initiates Coverage on Bank of Montreal (BMO)
Investment analysts at RBC Capital assumed coverage on shares of Bank of Montreal (NYSE:BMO) in a note issued to investors on Friday, TheFlyOnTheWall.com reports. The firm set an “outperform” rating and a $76.00 price target on the stock. RBC Capital’s price target would indicate a potential upside of 14.72% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks downgraded shares of Bank of Montreal from a “neutral” rating to an “underperform” rating in a research note to investors on Tuesday, December 10th. They now have a $64.20 price target on the stock. Analysts at TD Securities initiated coverage on shares of Bank of Montreal in a research note to investors on Thursday, October 17th. They set a “hold” rating on the stock. Five investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. Bank of Montreal currently has an average rating of “Hold” and a consensus price target of $66.80.
Bank of Montreal (NYSE:BMO) traded up 0.98% during mid-day trading on Friday, hitting $66.90. 148,489 shares of the company’s stock traded hands. Bank of Montreal has a one year low of $55.61 and a one year high of $71.26. The stock’s 50-day moving average is $67.32 and its 200-day moving average is $64.85. The company has a market cap of $43.084 billion and a P/E ratio of 10.38.
Bank of Montreal (NYSE:BMO) last issued its quarterly earnings data on Tuesday, December 3rd. The company reported $1.64 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.58 by $0.06. The company had revenue of $4.19 billion for the quarter. During the same quarter in the previous year, the company posted $1.65 earnings per share. The company’s revenue for the quarter was up .3% on a year-over-year basis. Analysts expect that Bank of Montreal will post $6.25 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, February 26th. Investors of record on Monday, February 3rd will be paid a dividend of 0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 4.59%. The ex-dividend date is Thursday, January 30th.
Bank of Montreal (NYSE:BMO) is a diversified financial services provider that provides a range of retail banking, wealth management and investment banking products and services.
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