Bank Of Montreal (BMO) Upgraded by Zacks Investment Research to “Hold”
Bank Of Montreal (NYSE:BMO) (TSE:BMO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued 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 recently issued reports on BMO. Desjardins reiterated a “hold” rating and issued a $84.00 target price (up previously from $82.00) on shares of Bank Of Montreal in a research note on Thursday, August 4th. Barclays PLC restated an “underweight” rating and issued a $75.00 price objective (up previously from $70.00) on shares of Bank Of Montreal in a research report on Sunday, August 21st. Royal Bank Of Canada boosted their price objective on shares of Bank Of Montreal from $84.00 to $88.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 24th. RBC Capital Markets restated a “sector perform” rating and issued a $88.00 price objective (up previously from $84.00) on shares of Bank Of Montreal in a research report on Thursday, August 25th. Finally, CIBC restated a “sector perform” rating on shares of Bank Of Montreal in a research report on Thursday, August 25th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Bank Of Montreal presently has a consensus rating of “Hold” and a consensus price target of $83.89.
Bank Of Montreal (NYSE:BMO) traded up 0.23% during midday trading on Friday, hitting $65.01. The stock had a trading volume of 519,913 shares. The company has a market cap of $41.93 billion, a P/E ratio of 12.96 and a beta of 1.06. Bank Of Montreal has a one year low of $47.54 and a one year high of $67.69. The stock’s 50-day moving average is $64.08 and its 200-day moving average is $64.36.
Bank Of Montreal (NYSE:BMO) last posted its earnings results on Tuesday, August 23rd. The company reported $1.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.11. Bank Of Montreal had a net margin of 17.82% and a return on equity of 12.66%. The company earned $5.63 billion during the quarter, compared to analysts’ expectations of $3.88 billion. During the same quarter in the previous year, the company posted $1.86 earnings per share. Bank Of Montreal’s quarterly revenue was up 16.7% compared to the same quarter last year. Equities analysts predict that Bank Of Montreal will post $5.40 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 given a $0.6696 dividend. This is a positive change from Bank Of Montreal’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend is Friday, October 28th. This represents a $2.68 annualized dividend and a yield of 4.12%. Bank Of Montreal’s payout ratio is currently 51.68%.
A number of hedge funds have recently made changes to their positions in BMO. Tower Research Capital LLC TRC raised its stake 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 valued at $123,000 after buying an additional 1,782 shares in the last quarter. Americafirst Capital Management LLC bought a new stake in shares of Bank Of Montreal during the second quarter valued at approximately $145,000. Hudock Capital Group LLC raised its stake in shares of 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. bought a new stake in shares of Bank Of Montreal during the second quarter valued at approximately $174,000. Finally, Stonebridge Capital Advisors LLC bought a new stake in shares of Bank Of Montreal during the second quarter valued at approximately $200,000. 47.77% of the stock is currently owned by institutional investors and hedge funds.
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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