Bank Of Montreal (BMO) Lowered to Underperform at Credit Suisse Group AG
A number of other analysts have also recently commented on the stock. 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 reaffirmed a sector perform rating and set a $88.00 price target (up previously from $84.00) on shares of Bank Of Montreal in a research report on Thursday, August 25th. Barclays PLC reaffirmed an underweight rating and set a $75.00 price target (up previously from $70.00) on shares of Bank Of Montreal in a research report on Sunday, August 21st. Dundee Securities initiated coverage on shares of Bank Of Montreal in a research report on Wednesday, September 21st. They set a neutral rating on the stock. Finally, CIBC reaffirmed a sector perform rating on shares of Bank Of Montreal in a research report on Thursday, August 25th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $83.67.
Shares of Bank Of Montreal (NYSE:BMO) opened at 63.90 on Tuesday. Bank Of Montreal has a 1-year low of $47.54 and a 1-year high of $67.69. The stock’s 50 day moving average price is $65.71 and its 200 day moving average price is $63.96. The company has a market cap of $41.22 billion, a P/E ratio of 12.55 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 EPS for the quarter, beating the Zacks’ consensus estimate of $1.83 by $0.11. The business had revenue of $5.63 billion for 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%. The business’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.86 earnings per share. Equities research analysts forecast that Bank Of Montreal will post $5.52 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 28th. Investors of record on Tuesday, November 1st will be given a $0.6696 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date of this dividend 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 (DPR) is presently 52.47%.
A number of institutional investors have recently modified their holdings of BMO. Hillsdale Investment Management Inc. boosted its position in shares of Bank Of Montreal by 0.7% in the second quarter. Hillsdale Investment Management Inc. now owns 106,550 shares of the company’s stock worth $6,751,000 after buying an additional 695 shares during the last quarter. Stonebridge Capital Advisors LLC acquired a new position in shares of Bank Of Montreal during the second quarter worth approximately $200,000. Legal & General Group Plc boosted its position in shares of Bank Of Montreal by 2.3% in the second quarter. Legal & General Group Plc now owns 3,067,790 shares of the company’s stock worth $193,634,000 after buying an additional 69,811 shares during the last quarter. Numeric Investors LLC acquired a new position in shares of Bank Of Montreal during the second quarter worth approximately $5,521,000. Finally, AHL Partners LLP acquired a new position in shares of Bank Of Montreal during the second quarter worth approximately $460,000. 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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