Bank Of Montreal (BMO) Stock Rating Reaffirmed by Scotiabank
Bank Of Montreal (NYSE:BMO)‘s stock had its “sector perform” rating reiterated by analysts at Scotiabank in a research note issued on Tuesday. They presently have a $86.00 target price on the stock. Scotiabank’s price target suggests a potential upside of 32.41% from the company’s current price.
Other research analysts have also recently issued research reports about the company. Zacks Investment Research raised Bank Of Montreal from a “hold” rating to a “buy” rating and set a $71.00 target price on the stock in a research note on Thursday, August 4th. Desjardins reissued a “hold” rating and issued a $86.00 price objective (up previously from $84.00) on shares of Bank Of Montreal in a research note on Thursday, August 25th. Credit Suisse Group AG reissued a “hold” rating on shares of Bank Of Montreal in a research note on Sunday, September 11th. TD Securities reissued a “hold” rating and issued a $89.00 price objective (up previously from $86.00) on shares of Bank Of Montreal in a research note on Thursday, August 25th. Finally, Dundee Securities started coverage on Bank Of Montreal in a research note on Wednesday, September 21st. They issued a “neutral” rating on the stock. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $83.89.
Bank Of Montreal (NYSE:BMO) traded up 0.74% on Tuesday, hitting $64.95. The stock had a trading volume of 448,713 shares. The company has a 50-day moving average price of $65.14 and a 200 day moving average price of $64.17. Bank Of Montreal has a 52-week low of $47.54 and a 52-week high of $67.69. The firm has a market cap of $41.89 billion, a PE ratio of 12.78 and a beta of 1.00.
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Bank Of Montreal (NYSE:BMO) last released its earnings results on Tuesday, August 23rd. The company reported $1.94 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.11. The firm had revenue of $5.63 billion for the quarter, compared to analysts’ expectations of $3.88 billion. Bank Of Montreal had a return on equity of 12.66% and a net margin of 17.82%. The company’s quarterly revenue was up 16.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.86 earnings per share. Equities analysts forecast that Bank Of Montreal will post $5.50 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, November 28th. Investors of record on Tuesday, November 1st will be paid a $0.6696 dividend. This is a positive change from Bank Of Montreal’s previous quarterly dividend of $0.66. The ex-dividend date is Friday, October 28th. This represents a $2.68 dividend on an annualized basis and a yield of 4.12%. Bank Of Montreal’s dividend payout ratio (DPR) is 52.47%.
A number of institutional investors have recently modified their holdings of the company. Bank of Montreal Can purchased a new position in shares of Bank Of Montreal during the second quarter worth about $980,506,000. Capital Research Global Investors raised its position in shares of Bank Of Montreal by 97.1% in the second quarter. Capital Research Global Investors now owns 12,729,160 shares of the company’s stock worth $807,426,000 after buying an additional 6,269,734 shares during the period. Mackenzie Financial Corp purchased a new position in shares of Bank Of Montreal during the second quarter worth about $201,621,000. Emerald Acquisition Ltd. purchased a new position in shares of Bank Of Montreal during the second quarter worth about $121,542,000. Finally, Evercore Trust Company N.A. purchased a new position in shares of Bank Of Montreal during the second quarter worth about $94,607,000. Institutional investors own 48.02% 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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