Bank of Montreal (NYSE:BMO) (TSE:BMO) was upgraded by Barclays PLC from an “underweight” rating to an “equal weight” rating in a note issued to investors on Tuesday.

BMO has been the topic of several other reports. Zacks Investment Research lowered shares of Bank of Montreal from a “hold” rating to a “sell” rating in a research report on Tuesday, May 9th. Scotiabank raised shares of Bank of Montreal from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, March 1st. Finally, Citigroup Inc raised shares of Bank of Montreal from a “neutral” rating to a “buy” rating in a research report on Thursday, May 18th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $88.38.

Analyst Recommendations for Bank of Montreal (NYSE:BMO)

Bank of Montreal (NYSE:BMO) traded up 0.30% during midday trading on Tuesday, reaching $67.79. 487,793 shares of the company traded hands. The firm’s 50 day moving average price is $71.13 and its 200 day moving average price is $72.43. Bank of Montreal has a 12 month low of $60.93 and a 12 month high of $78.00. The firm has a market capitalization of $44.20 billion, a price-to-earnings ratio of 11.62 and a beta of 1.06.

Bank of Montreal (NYSE:BMO) last issued its quarterly earnings data on Wednesday, May 24th. The bank reported $1.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.05. The company had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.26 billion. Bank of Montreal had a net margin of 17.99% and a return on equity of 13.38%. The company’s revenue was up 12.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.73 earnings per share. On average, analysts expect that Bank of Montreal will post $5.91 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 28th. Shareholders of record on Tuesday, August 1st will be paid a dividend of $0.6616 per share. The ex-dividend date is Friday, July 28th. This represents a $2.65 dividend on an annualized basis and a yield of 3.90%. Bank of Montreal’s payout ratio is 50.19%.

TRADEMARK VIOLATION WARNING: “Bank of Montreal (BMO) Upgraded at Barclays PLC” was first reported by American Banking News and is owned by of American Banking News. If you are reading this piece of content on another website, it was illegally copied and reposted in violation of U.S. & international copyright legislation. The original version of this piece of content can be accessed at https://www.americanbankingnews.com/2017/05/27/bank-of-montreal-bmo-upgraded-at-barclays-plc.html.

Large investors have recently made changes to their positions in the company. Wells Fargo & Company MN increased its stake in shares of Bank of Montreal by 2.4% in the third quarter. Wells Fargo & Company MN now owns 613,719 shares of the bank’s stock worth $40,241,000 after buying an additional 14,216 shares during the last quarter. Todd Asset Management LLC increased its stake in shares of Bank of Montreal by 11.7% in the third quarter. Todd Asset Management LLC now owns 394,663 shares of the bank’s stock worth $25,878,000 after buying an additional 41,282 shares during the last quarter. South Texas Money Management Ltd. increased its stake in shares of Bank of Montreal by 101.0% in the third quarter. South Texas Money Management Ltd. now owns 358,126 shares of the bank’s stock worth $23,482,000 after buying an additional 179,917 shares during the last quarter. Aperio Group LLC increased its stake in shares of Bank of Montreal by 0.7% in the third quarter. Aperio Group LLC now owns 505,308 shares of the bank’s stock worth $33,133,000 after buying an additional 3,410 shares during the last quarter. Finally, Pegasus Partners Ltd. increased its stake in shares of Bank of Montreal by 37.4% in the third quarter. Pegasus Partners Ltd. now owns 23,030 shares of the bank’s stock worth $1,510,000 after buying an additional 6,269 shares during the last quarter. Hedge funds and other institutional investors own 47.82% of the company’s stock.

About Bank of Montreal

Bank of Montreal (the Bank) is a financial services provider. The Bank provides a range of personal and commercial banking, wealth management and investment banking products and services. The Bank conducts its business through three operating groups: Personal and Commercial Banking (P&C), Wealth Management and BMO Capital Markets.

12 Month Chart for NYSE:BMO

Receive News & Ratings for Bank of Montreal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of Montreal and related companies with MarketBeat.com's FREE daily email newsletter.