Bank Of Montreal (NYSE:BMO) Given Average Recommendation of “Hold” by Brokerages

Shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) have earned an average recommendation of “Hold” from the twelve brokerages that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $163.00.

BMO has been the topic of a number of research reports. Barclays lowered Bank Of Montreal from an “equal weight” rating to an “underweight” rating in a report on Friday, March 20th. National Bank Financial reissued a “sector perform” rating on shares of Bank Of Montreal in a report on Wednesday, February 25th. Wall Street Zen raised Bank Of Montreal from a “sell” rating to a “hold” rating in a report on Sunday, February 8th. Scotiabank restated a “sector perform” rating on shares of Bank Of Montreal in a research note on Monday, May 4th. Finally, Zacks Research cut shares of Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th.

Bank Of Montreal Trading Up 0.9%

Shares of NYSE:BMO opened at $161.10 on Friday. The business’s 50-day moving average is $145.72 and its 200 day moving average is $137.81. Bank Of Montreal has a 1 year low of $102.70 and a 1 year high of $161.55. The firm has a market capitalization of $112.91 billion, a P/E ratio of 18.71, a P/E/G ratio of 0.91 and a beta of 0.94. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.02.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last announced its earnings results on Wednesday, February 25th. The bank reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.35 by $0.16. Bank Of Montreal had a return on equity of 12.16% and a net margin of 11.76%.The company had revenue of $7.21 billion for the quarter, compared to analyst estimates of $6.73 billion. During the same period in the prior year, the company posted $3.04 EPS. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, research analysts predict that Bank Of Montreal will post 11.56 earnings per share for the current fiscal year.

Bank Of Montreal Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 26th. Shareholders of record on Wednesday, April 29th will be paid a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 4.1%. The ex-dividend date is Wednesday, April 29th. Bank Of Montreal’s payout ratio is presently 55.75%.

Institutional Trading of Bank Of Montreal

Several institutional investors and hedge funds have recently bought and sold shares of BMO. Citigroup Inc. increased its holdings in shares of Bank Of Montreal by 36.6% during the 3rd quarter. Citigroup Inc. now owns 502,382 shares of the bank’s stock valued at $65,479,000 after purchasing an additional 134,699 shares in the last quarter. CIBC Asset Management Inc lifted its stake in shares of Bank Of Montreal by 17.3% in the 3rd quarter. CIBC Asset Management Inc now owns 7,260,160 shares of the bank’s stock valued at $949,441,000 after purchasing an additional 1,070,546 shares during the period. Vanguard Group Inc. boosted its holdings in Bank Of Montreal by 0.5% during the third quarter. Vanguard Group Inc. now owns 32,343,957 shares of the bank’s stock worth $4,214,676,000 after buying an additional 149,944 shares in the last quarter. Aviso Financial Inc. boosted its holdings in Bank Of Montreal by 24.2% during the third quarter. Aviso Financial Inc. now owns 1,002,099 shares of the bank’s stock worth $130,601,000 after buying an additional 195,154 shares in the last quarter. Finally, Candriam S.C.A. grew its position in Bank Of Montreal by 2,553.4% during the third quarter. Candriam S.C.A. now owns 180,563 shares of the bank’s stock valued at $23,534,000 after buying an additional 173,758 shares during the period. 45.82% of the stock is currently owned by institutional investors and hedge funds.

Bank Of Montreal Company Profile

Bank of Montreal (NYSE:BMO), commonly known as BMO Financial Group, is one of Canada’s largest and longest-established banks. Founded in Montreal and headquartered in Montreal, Quebec, the bank provides a broad range of financial services to retail, commercial, corporate and institutional clients. BMO is publicly listed in both Canada and the United States and operates under a consolidated financial services model that integrates banking, capital markets, wealth management and asset management activities.

BMO’s core businesses include personal and commercial banking—offering checking and savings accounts, lending, mortgages, and small-business services—alongside wealth management and private banking through its asset and investment management divisions.