Bank Of Montreal (NYSE:BMO) Stock Now Rated “Hold” by Sell-Side Analysts

Bank Of Montreal (NYSE:BMO) (TSE:BMO) has received a consensus recommendation of “Hold” from the twelve analysts that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $163.00.

BMO has been the topic of a number of recent research reports. TD Securities restated a “buy” rating on shares of Bank Of Montreal in a report on Wednesday, August 12th. Scotiabank reissued an “outperform” rating on shares of Bank Of Montreal in a research report on Wednesday, August 26th. Keefe, Bruyette & Woods initiated coverage on Bank Of Montreal in a research report on Friday, August 21st. They set an “outperform” rating on the stock. Canadian Imperial Bank of Commerce lowered Bank Of Montreal from a “sector outperform” rating to a “neutral” rating in a research note on Tuesday, August 18th. Finally, Weiss Ratings upgraded shares of Bank Of Montreal from a “buy (b)” rating to a “buy (b+)” rating in a research note on Tuesday.

Institutional Trading of Bank Of Montreal

Several hedge funds have recently modified their holdings of BMO. Edmond DE Rothschild Holding S.A. acquired a new stake in Bank Of Montreal during the 2nd quarter valued at $28,000. Western Wealth Management LLC acquired a new position in Bank Of Montreal during the 1st quarter valued at about $38,000. Highland Investment Advisors LLC bought a new position in Bank Of Montreal in the second quarter valued at approximately $63,000. Virtus Advisers LLC acquired a new position in Bank Of Montreal in the second quarter valued at about $95,000. Finally, Eastern Bank bought a new position in Bank Of Montreal during the 2nd quarter worth approximately $88,000. Institutional investors and hedge funds own 45.82% of the company’s stock.

Bank Of Montreal Trading Down 1.3%

Shares of NYSE:BMO opened at $167.44 on Friday. The firm has a fifty day moving average of $176.00 and a two-hundred day moving average of $164.31. The firm has a market capitalization of $116.38 billion, a P/E ratio of 18.90, a price-to-earnings-growth ratio of 0.90 and a beta of 0.93. Bank Of Montreal has a 12-month low of $119.84 and a 12-month high of $187.22. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.10.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings results on Tuesday, August 25th. The bank reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.71 by $0.13. Bank Of Montreal had a net margin of 11.72% and a return on equity of 13.60%. The business had revenue of $7.10 billion for the quarter, compared to the consensus estimate of $6.94 billion. During the same period in the prior year, the business posted $3.23 earnings per share. Bank Of Montreal’s revenue for the quarter was up 10.1% compared to the same quarter last year. On average, equities analysts expect that Bank Of Montreal will post 12.13 EPS for the current fiscal year.

Bank Of Montreal Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 26th. Shareholders of record on Friday, October 30th will be given a C$1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date is Friday, October 30th. Bank Of Montreal’s dividend payout ratio is 54.29%.

Bank Of Montreal Company Profile

Bank of Montreal, operating under the BMO Financial Group name, is a diversified financial services company headquartered in Montreal, Quebec. Founded in 1817, it is one of Canada’s largest banks and the country’s oldest continuously operating bank.

BMO provides personal and commercial banking services, including deposit accounts, lending, mortgages, credit cards, payment solutions and cash-management products. Through its wealth management businesses, the company offers investment, advisory, private banking, asset-management and retirement-planning services to individuals, families and institutions.

The company also operates a capital markets business that provides investment banking, corporate lending, financial advisory, trading, research and other services to corporations, governments and institutional clients.