Bank Of Montreal (BMO) Stock Rating Lowered by Zacks Investment Research
Bank Of Montreal (NYSE:BMO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.
According to Zacks, “Bank of Montreal is one of the largest banks in North America, is also one of Canada’s oldest banks. The bank offers a complete range of financial services in our chosen markets on both sides of the Canada-United States border. The bank offers to all of their clients not just financial products, but knowledge-based solutions, custom-made to add value in their financial affairs. “
A number of other research analysts have also weighed in on the company. RBC Capital Markets reissued a “sector perform” rating and set a $88.00 target price (up from $84.00) on shares of Bank Of Montreal in a report on Thursday, August 25th. Scotiabank reissued a “sector perform” rating and set a $86.00 target price on shares of Bank Of Montreal in a report on Tuesday, October 18th. Dundee Securities started coverage on Bank Of Montreal in a report on Wednesday, September 21st. They set a “neutral” rating on the stock. National Bank Financial reissued a “sector perform” rating and set a $88.00 target price (up from $84.00) on shares of Bank Of Montreal in a report on Thursday, August 25th. Finally, Royal Bank Of Canada boosted their target price on Bank Of Montreal from $84.00 to $88.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 24th. Three analysts have rated the stock with a sell rating, ten have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $83.89.
Bank Of Montreal (NYSE:BMO) opened at 63.93 on Friday. The firm’s 50-day moving average price is $64.17 and its 200 day moving average price is $64.38. Bank Of Montreal has a 1-year low of $47.54 and a 1-year high of $67.69. The firm has a market capitalization of $41.23 billion, a price-to-earnings ratio of 12.65 and a beta of 1.06.
Bank Of Montreal (NYSE:BMO) last posted its quarterly earnings results on Tuesday, August 23rd. The company reported $1.94 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.83 by $0.11. The firm had revenue of $5.63 billion for the quarter, compared to analyst estimates of $3.88 billion. Bank Of Montreal had a return on equity of 12.66% and a net margin of 17.82%. The business’s quarterly revenue was up 16.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.86 EPS. On average, analysts predict that Bank Of Montreal will post $5.38 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 28th. Investors of record on Tuesday, November 1st will be given a dividend of $0.6696 per share. This is an increase from Bank Of Montreal’s previous quarterly dividend of $0.66. This represents a $2.68 annualized dividend and a dividend yield of 4.19%. The ex-dividend date is Friday, October 28th. Bank Of Montreal’s dividend payout ratio is currently 51.68%.
Several hedge funds have recently made changes to their positions in BMO. Bank of Montreal Can acquired a new stake in shares of Bank Of Montreal during the second quarter valued at $980,506,000. Capital Research Global Investors increased 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 in the last quarter. Mackenzie Financial Corp acquired a new stake in shares of Bank Of Montreal during the second quarter valued at $201,621,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Bank Of Montreal during the third quarter valued at $138,022,000. Finally, Emerald Acquisition Ltd. acquired a new stake in shares of Bank Of Montreal during the second quarter valued at $121,542,000. Institutional investors and hedge funds own 47.77% 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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