Bank Of Montreal (BMO) Given Average Recommendation of “Hold” by Brokerages
Bank Of Montreal (NYSE:BMO) (TSE:BMO) has been assigned an average rating of “Hold” from the fifteen ratings firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $93.00.
A number of brokerages have recently weighed in on BMO. Zacks Investment Research upgraded Bank Of Montreal from a “hold” rating to a “buy” rating and set a $85.00 target price on the stock in a research note on Wednesday, March 1st. Citigroup Inc. upgraded Bank Of Montreal from a “neutral” rating to a “buy” rating in a research note on Thursday, May 18th. TD Securities upgraded Bank Of Montreal from a “hold” rating to a “buy” rating in a research note on Thursday, June 1st. They noted that the move was a valuation call. Barclays PLC upgraded Bank Of Montreal from an “underweight” rating to an “equal weight” rating in a research note on Tuesday, May 23rd. Finally, Scotiabank upgraded Bank Of Montreal from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, March 1st.
Bank Of Montreal (NYSE:BMO) traded up 0.87% during trading on Tuesday, reaching $71.60. The company’s stock had a trading volume of 572,129 shares. The company’s 50 day moving average price is $69.03 and its 200-day moving average price is $73.03. Bank Of Montreal has a 1-year low of $60.93 and a 1-year high of $78.00. The stock has a market cap of $46.68 billion, a P/E ratio of 11.90 and a beta of 1.02.
Bank Of Montreal (NYSE:BMO) (TSE:BMO) last issued its quarterly earnings data on Wednesday, May 24th. The bank reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.05. The firm had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.26 billion. Bank Of Montreal had a return on equity of 14.25% and a net margin of 19.60%. The company’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.73 EPS. Equities analysts forecast that Bank Of Montreal will post $6.04 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 28th. Investors of record on Tuesday, August 1st will be paid a $0.6616 dividend. The ex-dividend date is Friday, July 28th. This represents a $2.65 annualized dividend and a yield of 3.70%. Bank Of Montreal’s payout ratio is 43.85%.
A number of institutional investors have recently bought and sold shares of BMO. Comerica Bank increased its position in Bank Of Montreal by 10.3% in the fourth quarter. Comerica Bank now owns 41,352 shares of the bank’s stock valued at $3,086,000 after buying an additional 3,864 shares during the last quarter. State Street Corp increased its position in Bank Of Montreal by 85.2% in the fourth quarter. State Street Corp now owns 39,089 shares of the bank’s stock valued at $2,810,000 after buying an additional 17,977 shares during the last quarter. Trexquant Investment LP purchased a new position in Bank Of Montreal during the fourth quarter valued at approximately $288,000. Pacad Investment Ltd. purchased a new position in Bank Of Montreal during the fourth quarter valued at approximately $223,000. Finally, Envestnet Asset Management Inc. increased its position in Bank Of Montreal by 4.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 14,760 shares of the bank’s stock valued at $1,061,000 after buying an additional 671 shares during the last quarter. Institutional investors and hedge funds own 47.66% of the company’s stock.
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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.
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