TD Securities Upgrades Bank of Montreal to “Buy” (BMO)
Shares of Bank of Montreal (NYSE:BMO) opened at 75.60 on Wednesday. Bank of Montreal has a 52-week low of $60.34 and a 52-week high of $76.72. The stock has a 50-day moving average of $74.54 and a 200-day moving average of $69.94. The company has a market cap of $48.762 billion and a P/E ratio of 12.58.
Bank of Montreal (NYSE:BMO) last announced its earnings results on Tuesday, August 26th. The company reported $1.57 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.51 by $0.06. The company had revenue of $4.22 billion for the quarter, compared to the consensus estimate of $4.26 billion. During the same quarter last year, the company posted $1.68 earnings per share. Bank of Montreal’s revenue was up 5.4% compared to the same quarter last year. Analysts expect that Bank of Montreal will post $6.55 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, November 26th. Shareholders of record on Monday, November 3rd will be paid a dividend of $0.7111 per share. This represents a $2.84 annualized dividend and a dividend yield of 3.80%. The ex-dividend date is Thursday, October 30th.
A number of other firms have also recently commented on BMO. Analysts at Barclays reiterated an “equal weight” rating on shares of Bank of Montreal in a research note on Tuesday, August 19th. They now have a $84.00 price target on the stock, up previously from $80.00. Separately, analysts at Credit Suisse downgraded shares of Bank of Montreal from an “outperform” rating to a “neutral” rating in a research note on Thursday, July 31st. Finally, analysts at RBC Capital downgraded shares of Bank of Montreal from an “outperform” rating to a “sector perform” rating in a research note on Thursday, May 29th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Bank of Montreal presently has a consensus rating of “Hold” and a consensus target price of $76.50.
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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