Bank Of Montreal (BMO) Coverage Initiated by Analysts at Dundee Securities
Dundee Securities initiated coverage on shares of Bank Of Montreal (NYSE:BMO) in a research note issued on Wednesday. The firm set a “neutral” rating on the stock.
BMO has been the subject of a number of other reports. Credit Suisse Group AG reissued a “hold” rating on shares of Bank Of Montreal in a research report on Sunday, September 11th. Zacks Investment Research raised shares of Bank Of Montreal from a “hold” rating to a “buy” rating and set a $71.00 price objective for the company in a research report on Thursday, August 4th. National Bank Financial reissued a “sector perform” rating and issued a $88.00 price objective (up from $84.00) on shares of Bank Of Montreal in a research report on Thursday, August 25th. TD Securities cut shares of Bank Of Montreal from a “buy” rating to a “hold” rating and set a $86.00 price objective for the company. in a research report on Thursday, May 26th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $84.00 price objective on shares of Bank Of Montreal in a research report on Thursday, May 26th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $83.67.
Bank Of Montreal (NYSE:BMO) opened at 64.64 on Wednesday. The firm has a market cap of $41.69 billion, a PE ratio of 12.66 and a beta of 1.04. 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 $65.29 and a 200 day moving average price of $63.50.
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Bank Of Montreal (NYSE:BMO) last posted its quarterly earnings data on Tuesday, August 23rd. The company reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.11. The company earned $5.63 billion during the quarter, compared to analysts’ expectations of $3.88 billion. Bank Of Montreal had a net margin of 17.82% and a return on equity of 12.66%. The firm’s revenue for the quarter was up 16.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.86 EPS. Equities research analysts anticipate that Bank Of Montreal will post $5.51 EPS for the current 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 paid a $0.6696 dividend. The ex-dividend date is Friday, October 28th. This represents a $2.68 annualized dividend and a dividend yield of 4.14%. This is a positive change from Bank Of Montreal’s previous quarterly dividend of $0.66. Bank Of Montreal’s dividend payout ratio (DPR) is presently 52.47%.
Several large investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC raised its stake in shares of 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 valued at approximately $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 valued at $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 valued at approximately $174,000. Finally, Stonebridge Capital Advisors LLC purchased a new stake in shares of Bank Of Montreal during the second quarter valued at approximately $200,000. Institutional investors own 48.03% of the company’s stock.
About Bank Of Montreal
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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