BMO has been the topic of several other reports. Dundee Securities initiated coverage on Bank Of Montreal in a research report on Wednesday, September 21st. They set a neutral rating on the stock. National Bank Financial reaffirmed a sector perform rating and set a $88.00 price target (up from $84.00) on shares of Bank Of Montreal in a research report on Thursday, August 25th. Zacks Investment Research raised Bank Of Montreal from a hold rating to a buy rating and set a $71.00 price target on the stock in a research report on Thursday, August 4th. Scotiabank reaffirmed a sector perform rating and set a $89.00 price target (up from $86.00) on shares of Bank Of Montreal in a research report on Thursday, August 25th. Finally, Desjardins reaffirmed a hold rating and set a $86.00 price target (up from $84.00) on shares of Bank Of Montreal in a research report on Thursday, August 25th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of Hold and an average price target of $83.89.
Shares of Bank Of Montreal (NYSE:BMO) opened at 63.15 on Tuesday. Bank Of Montreal has a 52-week low of $47.54 and a 52-week high of $67.69. The stock has a market capitalization of $40.73 billion, a P/E ratio of 12.33 and a beta of 1.00. The company has a 50 day moving average price of $65.55 and a 200-day moving average price of $63.97.
Bank Of Montreal (NYSE:BMO) last announced its quarterly earnings results on Tuesday, August 23rd. The company reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.11. The company had revenue of $5.63 billion for the quarter, compared to the consensus estimate of $3.88 billion. Bank Of Montreal had a return on equity of 12.66% and a net margin of 17.82%. The firm’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same period last year, the firm earned $1.86 EPS. On average, analysts predict that Bank Of Montreal will post $5.50 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 28th. Shareholders of record on Tuesday, November 1st will be paid a $0.6696 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 4.24%. This is a positive change from Bank Of Montreal’s previous quarterly dividend of $0.66. The ex-dividend date is Friday, October 28th. Bank Of Montreal’s dividend payout ratio (DPR) is 52.47%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BMO. Bank of New York Mellon Corp raised its position in Bank Of Montreal by 2.2% in the second quarter. Bank of New York Mellon Corp now owns 985,123 shares of the company’s stock worth $62,448,000 after buying an additional 21,582 shares during the period. Legal & General Group Plc raised its position in Bank Of Montreal by 3.1% in the first quarter. Legal & General Group Plc now owns 2,997,979 shares of the company’s stock worth $182,755,000 after buying an additional 91,261 shares during the period. Bank of Montreal Can acquired a new position in Bank Of Montreal during the second quarter worth $980,506,000. Americafirst Capital Management LLC acquired a new position in Bank Of Montreal during the second quarter worth $145,000. Finally, Trust Co. of Vermont raised its position in Bank Of Montreal by 17.6% in the second quarter. Trust Co. of Vermont now owns 5,446 shares of the company’s stock worth $346,000 after buying an additional 814 shares during the period. 48.03% of the stock is currently owned by institutional investors and hedge funds.
About Bank Of Montreal
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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