Bank Of Montreal (BMO) Receives Consensus Recommendation of “Hold” from Analysts
Bank Of Montreal (NYSE:BMO) (TSE:BMO) has received an average rating of “Hold” from the twelve analysts that are covering the company, MarketBeat.com reports. Nine investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $98.00.
BMO has been the subject of a number of research reports. BidaskClub downgraded Bank Of Montreal from a “hold” rating to a “sell” rating in a report on Saturday, August 12th. Zacks Investment Research raised Bank Of Montreal from a “hold” rating to a “buy” rating and set a $85.00 target price for the company in a report on Tuesday, July 18th. Macquarie initiated coverage on Bank Of Montreal in a report on Tuesday, October 24th. They set a “neutral” rating and a $81.00 target price for the company. Canaccord Genuity set a $102.00 target price on Bank Of Montreal and gave the stock a “hold” rating in a report on Tuesday, August 29th. Finally, Scotiabank reissued a “buy” rating and set a $101.00 target price on shares of Bank Of Montreal in a report on Wednesday, August 30th.
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Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly earnings data on Tuesday, August 29th. The bank reported $1.53 EPS for the quarter, missing the Zacks’ consensus estimate of $1.57 by ($0.04). Bank Of Montreal had a return on equity of 14.36% and a net margin of 20.04%. The company had revenue of $5.46 billion for the quarter, compared to the consensus estimate of $5.52 billion. During the same period last year, the firm earned $1.94 earnings per share. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 28th. Stockholders of record on Wednesday, November 1st will be issued a dividend of $0.717 per share. The ex-dividend date is Tuesday, October 31st. This represents a $2.87 dividend on an annualized basis and a dividend yield of 3.74%. This is an increase from Bank Of Montreal’s previous quarterly dividend of $0.66. Bank Of Montreal’s dividend payout ratio (DPR) is currently 46.91%.
Hedge funds have recently bought and sold shares of the stock. Bronfman E.L. Rothschild L.P. raised its stake in Bank Of Montreal by 1.1% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,392 shares of the bank’s stock valued at $102,000 after purchasing an additional 15 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 valued at $115,000 after purchasing 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 valued at $118,000 after purchasing an additional 166 shares in the last quarter. Hudock Capital Group LLC raised its stake in Bank Of Montreal by 0.3% in the second quarter. Hudock Capital Group LLC now owns 2,593 shares of the bank’s stock valued at $190,000 after purchasing an additional 9 shares in the last quarter. Finally, Huntington National Bank raised its stake in Bank Of Montreal by 12.2% in the second quarter. Huntington National Bank now owns 2,713 shares of the bank’s stock valued at $200,000 after purchasing an additional 294 shares in the last quarter. 42.77% of the stock is owned by institutional investors and hedge funds.
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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