Bank Of Montreal (NYSE:BMO) Receives Consensus Rating of “Hold” from Brokerages
Shares of Bank Of Montreal (NYSE:BMO) have been assigned a consensus recommendation of “Hold” from the sixteen research firms that are currently covering the company. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $82.58.
BMO has been the subject of several research analyst reports. Rafferty Capital Markets raised shares of Bank Of Montreal from a “hold” rating to a “buy” rating in a report on Thursday, June 9th. Zacks Investment Research cut shares of Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 5th. RBC Capital Markets reiterated a “sector perform” rating and issued a $88.00 price target (up from $84.00) on shares of Bank Of Montreal in a research report on Thursday, August 25th. Dundee Securities started coverage on shares of Bank Of Montreal in a research report on Wednesday, September 21st. They issued a “neutral” rating on the stock. Finally, National Bank Financial reiterated a “sector perform” rating and issued a $88.00 price target (up from $84.00) on shares of Bank Of Montreal in a research report on Thursday, August 25th.
Shares of Bank Of Montreal (NYSE:BMO) traded down 2.37% during midday trading on Tuesday, reaching $63.90. 1,096,960 shares of the company were exchanged. The firm’s 50 day moving average is $65.74 and its 200-day moving average is $63.93. Bank Of Montreal has a 52-week low of $47.54 and a 52-week high of $67.69. The company has a market capitalization of $41.22 billion, a PE ratio of 12.55 and a beta of 1.00.
Bank Of Montreal (NYSE:BMO) last posted its quarterly earnings data 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 business earned $5.63 billion during the quarter, compared to the consensus estimate of $3.88 billion. Bank Of Montreal had a net margin of 17.82% and a return on equity of 12.66%. The company’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.86 earnings per share. On average, equities analysts forecast that Bank Of Montreal will post $5.52 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 28th. Stockholders of record on Tuesday, November 1st will be issued a $0.6696 dividend. This is an increase from Bank Of Montreal’s previous quarterly dividend of $0.66. The ex-dividend date is Friday, October 28th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 4.09%. Bank Of Montreal’s dividend payout ratio is currently 52.47%.
Several institutional investors have recently modified their holdings of BMO. Bank of Montreal Can acquired a new position in shares of Bank Of Montreal during the second quarter worth $980,506,000. Capital Research Global Investors boosted its stake in shares of Bank Of Montreal by 97.1% in the second quarter. Capital Research Global Investors now owns 12,729,160 shares of the company’s stock valued at $807,426,000 after buying an additional 6,269,734 shares during the last quarter. Mackenzie Financial Corp purchased a new stake in shares of Bank Of Montreal during the second quarter valued at approximately $201,621,000. Emerald Acquisition Ltd. purchased a new stake in shares of Bank Of Montreal during the second quarter valued at approximately $121,542,000. Finally, Evercore Trust Company N.A. purchased a new stake in shares of Bank Of Montreal during the second quarter valued at approximately $94,607,000. Institutional investors own 48.03% of the company’s stock.
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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