Bank of Montreal (BMO) Receives Consensus Recommendation of “Hold” from Brokerages
Shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) have been given a consensus rating of “Hold” by the ten ratings firms that are presently covering the stock, Marketbeat reports. Seven research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $101.50.
A number of analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Bank of Montreal from a “hold” rating to a “sell” rating in a research note on Wednesday, November 8th. Scotiabank restated a “buy” rating and issued a $112.00 price target on shares of Bank of Montreal in a research note on Wednesday, November 22nd. Canaccord Genuity restated a “hold” rating and issued a $105.00 price target on shares of Bank of Montreal in a research note on Tuesday, December 5th. Finally, Macquarie assumed coverage on shares of Bank of Montreal in a research note on Tuesday, October 24th. They issued a “neutral” rating and a $81.00 price target for the company.
Bank of Montreal (NYSE:BMO) traded up $0.35 on Monday, hitting $82.09. 287,400 shares of the stock were exchanged, compared to its average volume of 348,333. The stock has a market capitalization of $53,270.00, a price-to-earnings ratio of 12.91, a P/E/G ratio of 2.14 and a beta of 1.06. Bank of Montreal has a 12 month low of $66.75 and a 12 month high of $82.68. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 1.07.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 27th. Shareholders of record on Thursday, February 1st will be issued a $0.733 dividend. This represents a $2.93 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date is Wednesday, January 31st. This is an increase from Bank of Montreal’s previous quarterly dividend of $0.72. Bank of Montreal’s payout ratio is currently 44.18%.
A number of institutional investors have recently added to or reduced their stakes in BMO. BNP Paribas Arbitrage SA boosted its holdings in Bank of Montreal by 95.4% in the second quarter. BNP Paribas Arbitrage SA now owns 3,159 shares of the bank’s stock worth $232,000 after purchasing an additional 1,542 shares during the period. LSV Asset Management boosted its holdings in Bank of Montreal by 7.3% in the second quarter. LSV Asset Management now owns 70,800 shares of the bank’s stock worth $5,199,000 after purchasing an additional 4,800 shares during the period. Wells Fargo & Company MN boosted its holdings in Bank of Montreal by 14.4% in the second quarter. Wells Fargo & Company MN now owns 528,981 shares of the bank’s stock worth $38,848,000 after purchasing an additional 66,666 shares during the period. Alliancebernstein L.P. boosted its holdings in Bank of Montreal by 14.7% in the second quarter. Alliancebernstein L.P. now owns 343,796 shares of the bank’s stock worth $25,248,000 after purchasing an additional 43,971 shares during the period. Finally, Stephens Inc. AR boosted its holdings in Bank of Montreal by 21.0% in the second quarter. Stephens Inc. AR now owns 12,689 shares of the bank’s stock worth $932,000 after purchasing an additional 2,200 shares during the period. 42.83% of the stock is owned by hedge funds and other institutional investors.
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About Bank of Montreal
Bank of Montreal (the Bank) is a financial services provider. The Bank provides a range of personal and commercial banking, wealth management and investment banking products and services. The Bank conducts its business through three operating groups: Personal and Commercial Banking (P&C), Wealth Management and BMO Capital Markets.
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