Bank of Montreal (NYSE:BMO) (TSE:BMO) has been assigned an average rating of “Hold” from the fourteen brokerages that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $77.13.
Several research firms recently commented on BMO. Canaccord Genuity boosted their target price on Bank of Montreal from $73.00 to $79.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. ValuEngine raised Bank of Montreal from a “sell” rating to a “hold” rating in a report on Thursday, July 2nd. CIBC assumed coverage on Bank of Montreal in a report on Friday, July 24th. They set a “neutral” rating for the company. National Bank Financial downgraded Bank of Montreal from an “outperform” rating to a “sector perform” rating and set a $75.00 price target for the company. in a report on Thursday, May 28th. Finally, BMO Capital Markets downgraded Bank of Montreal from an “outperform” rating to a “sector perform” rating and set a $75.00 price target for the company. in a report on Wednesday, May 27th.
Institutional investors have recently bought and sold shares of the company. Hanson & Doremus Investment Management purchased a new stake in shares of Bank of Montreal in the 1st quarter valued at about $25,000. MBE Wealth Management LLC purchased a new stake in shares of Bank of Montreal in the 1st quarter valued at about $27,000. Exchange Traded Concepts LLC lifted its holdings in shares of Bank of Montreal by 4,972.7% in the 1st quarter. Exchange Traded Concepts LLC now owns 558 shares of the bank’s stock valued at $28,000 after purchasing an additional 547 shares during the last quarter. Ballast Advisors LLC purchased a new stake in shares of Bank of Montreal in the 1st quarter valued at about $28,000. Finally, Cerebellum GP LLC purchased a new stake in shares of Bank of Montreal in the 2nd quarter valued at about $31,000. 41.01% of the stock is owned by institutional investors and hedge funds.
BMO opened at $55.52 on Tuesday. Bank of Montreal has a 12 month low of $38.31 and a 12 month high of $79.93. The stock has a market capitalization of $35.70 billion, a price-to-earnings ratio of 8.93, a PEG ratio of 2.37 and a beta of 1.11. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.00 and a quick ratio of 1.00. The business has a fifty day moving average price of $54.37 and a 200 day moving average price of $57.99.
Bank of Montreal (NYSE:BMO) (TSE:BMO) last released its earnings results on Wednesday, May 27th. The bank reported $1.04 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.10. Bank of Montreal had a return on equity of 11.85% and a net margin of 13.51%. The firm had revenue of $5.46 billion during the quarter, compared to analysts’ expectations of $5.99 billion. During the same period in the previous year, the firm posted $2.30 EPS. Bank of Montreal’s revenue for the quarter was down 3.9% on a year-over-year basis. On average, research analysts anticipate that Bank of Montreal will post 4.96 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Tuesday, August 4th will be issued a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 5.48%. The ex-dividend date of this dividend is Monday, August 3rd. Bank of Montreal’s payout ratio is currently 42.82%.
Bank of Montreal Company Profile
Bank of Montreal provides diversified financial services primarily in North America. It operates through three groups: Personal and Commercial Banking, Wealth Management, and BMO Capital Markets. The company's personal banking products and services include checking and savings accounts, credit cards, mortgages, and financial and investment advice services; and commercial banking products and services comprise business deposit accounts, commercial credit cards, business loans and commercial mortgages, cash management solutions, foreign exchange, and specialized banking programs for small business and commercial banking customers, as well as wealth management products and services, such as insurance products.
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