Credit Suisse Group AG Initiates Coverage on Bank Of Montreal (BMO)
Credit Suisse Group AG began coverage on shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) in a research report issued to clients and investors on Monday. The firm set an “underperform” rating on the stock.
Several other analysts also recently weighed in on BMO. Dundee Securities reiterated a “neutral” rating and issued a $90.00 price objective (down previously from $91.00) on shares of Bank Of Montreal in a research report on Wednesday, October 5th. Desjardins restated a “hold” rating and set a $84.00 target price (up previously from $82.00) on shares of Bank Of Montreal in a report on Thursday, August 4th. Zacks Investment Research downgraded Bank Of Montreal from a “hold” rating to a “sell” rating in a report on Friday, November 11th. National Bank Financial restated a “sector perform” rating and set a $88.00 target price (up previously from $84.00) on shares of Bank Of Montreal in a report on Thursday, August 25th. Finally, Royal Bank Of Canada upped their target price on Bank Of Montreal from $84.00 to $88.00 and gave the company a “sector perform” rating in a report on Wednesday, August 24th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $83.89.
Shares of Bank Of Montreal (NYSE:BMO) opened at 64.41 on Monday. The firm has a market cap of $41.54 billion, a P/E ratio of 12.75 and a beta of 1.06. The company has a 50-day moving average of $64.17 and a 200 day moving average of $64.38. 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 announced its quarterly earnings data on Tuesday, August 23rd. The company reported $1.94 earnings per share for the quarter, beating the Thomson Reuters’ 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 firm earned $5.63 billion during the quarter, compared to the consensus estimate of $3.88 billion. During the same quarter in the previous year, the company posted $1.86 earnings per share. The business’s revenue was up 16.7% on a year-over-year basis. On average, equities analysts expect that Bank Of Montreal will post $5.38 earnings per share 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. 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. This represents a $2.68 annualized dividend and a dividend yield of 4.14%. Bank Of Montreal’s dividend payout ratio (DPR) is 51.68%.
Several large investors have recently added to or reduced their stakes in BMO. Tower Research Capital LLC TRC boosted its stake in 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 valued at $123,000 after buying an additional 1,782 shares during the period. Americafirst Capital Management LLC acquired a new stake in Bank Of Montreal during the second quarter valued at approximately $145,000. Hudock Capital Group LLC boosted its stake 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 during the period. C M Bidwell & Associates Ltd. acquired a new stake in Bank Of Montreal during the second quarter valued at approximately $174,000. Finally, Stonebridge Capital Advisors LLC acquired a new stake in Bank Of Montreal during the second quarter valued at approximately $200,000. 47.77% of the stock is currently owned by institutional investors.
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.
Receive News & Stock Ratings for Bank Of Montreal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank Of Montreal and related stocks with our FREE daily email newsletter.