Bank Of Montreal (BMO) Receives Consensus Rating of “Hold” from Brokerages
Shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) have been given a consensus recommendation of “Hold” by the fifteen research firms that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $91.40.
BMO has been the topic of a number of research analyst reports. Zacks Investment Research raised 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 Tuesday, July 18th. Royal Bank Of Canada cut their price target on shares of Bank Of Montreal to $108.00 and set a “sector perform” rating for the company in a research report on Thursday, May 25th. TD Securities upgraded shares of Bank Of Montreal from a “hold” rating to a “buy” rating in a research report on Thursday, June 1st. They noted that the move was a valuation call. Citigroup Inc. upgraded shares of Bank Of Montreal from a “neutral” rating to a “buy” rating in a research report on Thursday, May 18th. Finally, Canaccord Genuity initiated coverage on shares of Bank Of Montreal in a research report on Tuesday, July 18th. They set a “hold” rating for the company.
Several hedge funds have recently bought and sold shares of the company. Bronfman E.L. Rothschild L.P. raised its stake in Bank Of Montreal by 1.7% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,377 shares of the bank’s stock worth $103,000 after buying an additional 23 shares in the last quarter. Advisory Services Network LLC raised its stake in Bank Of Montreal by 409.1% in the second quarter. Advisory Services Network LLC now owns 1,568 shares of the bank’s stock worth $115,000 after buying an additional 1,260 shares in the last quarter. IFP Advisors Inc raised its stake in Bank Of Montreal by 11.5% in the second quarter. IFP Advisors Inc now owns 1,604 shares of the bank’s stock worth $118,000 after buying an additional 166 shares in the last quarter. BNP Paribas Arbitrage SA purchased a new stake in Bank Of Montreal during the first quarter worth $121,000. Finally, Signature Estate & Investment Advisors LLC purchased a new stake in Bank Of Montreal during the first quarter worth $150,000. Institutional investors own 48.44% of the company’s stock.
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Shares of Bank Of Montreal (NYSE:BMO) traded up 0.55% during trading on Friday, hitting $72.76. The stock had a trading volume of 327,551 shares. The firm’s 50 day moving average is $74.99 and its 200 day moving average is $73.41. Bank Of Montreal has a 1-year low of $62.32 and a 1-year high of $78.00. The company has a market cap of $47.44 billion, a PE ratio of 11.62 and a beta of 1.02.
Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released its earnings results on Wednesday, May 24th. The bank reported $1.45 EPS for the quarter, beating the Zacks’ consensus estimate of $1.40 by $0.05. The business had revenue of $5.74 billion for the quarter, compared to analysts’ expectations of $5.26 billion. Bank Of Montreal had a return on equity of 14.25% and a net margin of 19.60%. The firm’s revenue was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.73 earnings per share. Equities research analysts anticipate that Bank Of Montreal will post $6.30 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 28th. Stockholders of record on Tuesday, August 1st will be issued a dividend of $0.6616 per share. The ex-dividend date of this dividend is Friday, July 28th. This represents a $2.65 dividend on an annualized basis and a dividend yield of 3.64%. Bank Of Montreal’s dividend payout ratio is currently 46.18%.
Bank Of Montreal announced that its board has authorized a share buyback program on Thursday, April 27th that permits the company to buyback 15,000,000 shares. This buyback authorization permits the bank to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.
Bank Of Montreal Company Profile
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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