A number of other analysts have also recently weighed in on BMO. Rafferty Capital Markets upgraded shares of Bank Of Montreal from a hold rating to a buy rating in a research note on Thursday, June 9th. Zacks Investment Research downgraded shares of Bank Of Montreal from a strong-buy rating to a hold rating in a research report on Tuesday, July 5th. Desjardins restated a hold rating and set a $84.00 price objective (up previously from $82.00) on shares of Bank Of Montreal in a research report on Thursday, August 4th. Barclays PLC restated an underweight rating and set a $75.00 price objective (up previously from $70.00) on shares of Bank Of Montreal in a research report on Sunday, August 21st. Finally, Royal Bank Of Canada upped their price objective on shares of Bank Of Montreal from $84.00 to $88.00 and gave the stock a sector perform rating in a research report on Wednesday, August 24th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $83.89.
Bank Of Montreal (NYSE:BMO) traded down 0.64% during trading on Wednesday, reaching $63.44. 152,144 shares of the company were exchanged. Bank Of Montreal has a 12 month low of $47.54 and a 12 month high of $67.69. The stock has a 50 day moving average price of $65.67 and a 200 day moving average price of $63.96. The firm has a market capitalization of $40.92 billion, a PE ratio of 12.46 and a beta of 1.00.
Bank Of Montreal (NYSE:BMO) last issued its quarterly earnings results on Tuesday, August 23rd. The company reported $1.94 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.83 by $0.11. The firm earned $5.63 billion during the quarter, compared to analysts’ expectations of $3.88 billion. Bank Of Montreal had a net margin of 17.82% and a return on equity of 12.66%. Bank Of Montreal’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.86 EPS. On average, analysts expect that Bank Of Montreal will post $5.52 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, November 28th. Shareholders of record on Tuesday, November 1st will be paid a dividend of $0.6696 per share. This is a boost from Bank Of Montreal’s previous quarterly dividend of $0.66. This represents a $2.68 annualized dividend and a dividend yield of 4.19%. The ex-dividend date of this dividend is Friday, October 28th. Bank Of Montreal’s dividend payout ratio (DPR) is currently 52.47%.
Several large investors have recently added to or reduced their stakes in the company. Hudock Capital Group LLC boosted its stake in Bank Of Montreal by 0.3% in the second quarter. Hudock Capital Group LLC now owns 2,633 shares of the company’s stock valued at $166,000 after buying an additional 9 shares in the last quarter. LifePlan Financial Group Inc boosted its stake in Bank Of Montreal by 1.8% in the third quarter. LifePlan Financial Group Inc now owns 3,488 shares of the company’s stock valued at $229,000 after buying an additional 61 shares in the last quarter. Associated Banc Corp boosted its stake in Bank Of Montreal by 0.6% in the second quarter. Associated Banc Corp now owns 13,528 shares of the company’s stock valued at $857,000 after buying an additional 75 shares in the last quarter. First Midwest Bank Trust Division boosted its stake in Bank Of Montreal by 2.1% in the second quarter. First Midwest Bank Trust Division now owns 3,865 shares of the company’s stock valued at $245,000 after buying an additional 80 shares in the last quarter. Finally, National Planning Corp boosted its stake in Bank Of Montreal by 2.1% in the second quarter. National Planning Corp now owns 4,080 shares of the company’s stock valued at $257,000 after buying an additional 83 shares in the last quarter. 48.03% of the stock is currently owned by institutional investors.
Bank Of Montreal Company Profile
Bank of Montreal (BMO) is a financial services company. The Bank provides a range of personal and commercial banking, wealth management and investment banking products and services. The Bank’s operating groups include Personal and Commercial Banking, Wealth Management, BMO Capital Markets (BMO CM) and Corporate Services, including Technology and Operations.
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