Scotiabank reissued their sector perform rating on shares of Bank Of Montreal (NYSE:BMO) in a research note released on Wednesday morning. Scotiabank currently has a $86.00 price target on the stock, down from their previous price target of $89.00.
Other equities analysts have also issued reports about the company. TD Securities reissued a hold rating and set a $89.00 price objective (up from $86.00) on shares of Bank Of Montreal in a report on Thursday, August 25th. Dundee Securities reissued a neutral rating and set a $90.00 price objective (down from $91.00) on shares of Bank Of Montreal in a report on Wednesday, October 5th. Desjardins reissued a hold rating and set a $84.00 price objective (up from $82.00) on shares of Bank Of Montreal in a report on Thursday, August 4th. Rafferty Capital Markets raised Bank Of Montreal from a hold rating to a buy rating in a report on Thursday, June 9th. Finally, CIBC reissued a sector perform rating on shares of Bank Of Montreal in a report on Thursday, August 25th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of Hold and an average price target of $83.89.
Bank Of Montreal (NYSE:BMO) opened at 63.65 on Wednesday. The company has a market cap of $41.05 billion, a price-to-earnings ratio of 12.43 and a beta of 1.00. The stock has a 50 day moving average price of $65.51 and a 200 day moving average price of $64.07. Bank Of Montreal has a 52 week low of $47.54 and a 52 week high of $67.69.
Bank Of Montreal (NYSE:BMO) last announced its quarterly earnings data on Tuesday, August 23rd. The company reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.11. Bank Of Montreal had a return on equity of 12.66% and a net margin of 17.82%. The business earned $5.63 billion during the quarter, compared to analyst estimates of $3.88 billion. During the same period in the prior year, the company earned $1.86 earnings per share. Bank Of Montreal’s revenue was up 16.7% compared to the same quarter last year. On average, equities analysts forecast that Bank Of Montreal will post $5.50 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, November 28th. Investors 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 4.21%. The ex-dividend date is Friday, October 28th. This is a boost from Bank Of Montreal’s previous quarterly dividend of $0.66. Bank Of Montreal’s dividend payout ratio is currently 52.47%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC boosted its position in Bank Of Montreal by 1,196.0% in the second quarter. Tower Research Capital LLC TRC now owns 1,931 shares of the company’s stock worth $123,000 after buying an additional 1,782 shares in the last quarter. Americafirst Capital Management LLC purchased a new position in Bank Of Montreal during the second quarter worth approximately $145,000. Hudock Capital Group LLC boosted its position 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 worth $166,000 after buying an additional 9 shares in the last quarter. C M Bidwell & Associates Ltd. purchased a new position in Bank Of Montreal during the second quarter worth approximately $174,000. Finally, Stonebridge Capital Advisors LLC purchased a new position in Bank Of Montreal during the second quarter worth approximately $200,000. 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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