Bank Of Montreal (BMO) Stock Rating Reaffirmed by Scotiabank
Bank Of Montreal (NYSE:BMO)‘s stock had its “sector perform” rating reissued by analysts at Scotiabank in a research note issued to investors on Tuesday. They currently have a $86.00 price objective on the stock. Scotiabank’s price objective would indicate a potential upside of 32.41% from the company’s current price.
BMO has been the topic of several other reports. Credit Suisse Group AG lowered Bank Of Montreal from a “neutral” rating to an “underperform” rating in a research report on Tuesday, October 4th. Dundee Securities started coverage on Bank Of Montreal in a research report on Wednesday, September 21st. They set a “neutral” rating on the stock. National Bank Financial restated 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 upgraded 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. Finally, Desjardins restated 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 equities 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 given a strong buy rating to the company. Bank Of Montreal currently has a consensus rating of “Hold” and a consensus target price of $83.89.
Shares of Bank Of Montreal (NYSE:BMO) traded up 0.74% during trading on Tuesday, hitting $64.95. The stock had a trading volume of 448,713 shares. The stock has a market capitalization of $41.89 billion, a price-to-earnings ratio of 12.78 and a beta of 1.00. The firm has a 50 day moving average price of $65.14 and a 200-day moving average price of $64.17. 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 posted its quarterly earnings results on Tuesday, August 23rd. The company reported $1.94 earnings per share (EPS) for the quarter, topping 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 had revenue of $5.63 billion for the quarter, compared to analyst estimates of $3.88 billion. During the same period last year, the company earned $1.86 EPS. Bank Of Montreal’s revenue for the quarter was up 16.7% compared to the same quarter last year. On average, equities research analysts forecast that Bank Of Montreal will post $5.50 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 28th. Shareholders of record on Tuesday, November 1st will be paid a dividend of $0.6696 per share. This is a boost 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 yield of 4.12%. Bank Of Montreal’s payout ratio is presently 52.47%.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC boosted its position in shares of 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 during the last quarter. Americafirst Capital Management LLC acquired a new position in Bank Of Montreal during the second quarter valued at $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 valued at $166,000 after buying an additional 9 shares in the last quarter. C M Bidwell & Associates Ltd. acquired a new position in Bank Of Montreal during the second quarter valued at $174,000. Finally, Stonebridge Capital Advisors LLC acquired a new position in Bank Of Montreal during the second quarter valued at $200,000. Institutional investors and hedge funds own 48.02% 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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