Bank Of Montreal (BMO) – What Are Brokerages Saying About This Stock?

Shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) have been assigned an average recommendation of “Hold” from the thirteen research firms that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $244.00.

Several brokerages have recently issued reports on BMO. Weiss Ratings cut Bank Of Montreal from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, October 14th. TD Securities reissued a “buy” rating on shares of Bank Of Montreal in a research report on Wednesday, August 12th. Canadian Imperial Bank of Commerce lowered shares of Bank Of Montreal from a “sector outperform” rating to a “neutral” rating in a research note on Tuesday, August 18th. Royal Bank Of Canada restated a “sector perform” rating on shares of Bank Of Montreal in a research note on Thursday, August 27th. Finally, Barclays reaffirmed an “underweight” rating on shares of Bank Of Montreal in a report on Friday, August 21st.

Bank Of Montreal Stock Up 0.0%

Shares of NYSE BMO opened at $169.12 on Wednesday. The stock has a market cap of $117.55 billion, a P/E ratio of 19.09, a PEG ratio of 1.02 and a beta of 0.95. The business’s fifty day simple moving average is $171.00 and its 200-day simple moving average is $167.86. Bank Of Montreal has a 12-month low of $119.84 and a 12-month high of $187.22. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.10.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released its earnings results on Tuesday, August 25th. The bank reported $2.84 EPS for the quarter, topping the consensus estimate of $2.71 by $0.13. Bank Of Montreal had a return on equity of 13.60% and a net margin of 11.72%. The firm had revenue of $7.10 billion during the quarter, compared to analysts’ expectations of $6.94 billion. During the same period in the previous year, the firm posted $3.23 EPS. Bank Of Montreal’s revenue for the quarter was up 10.1% on a year-over-year basis. As a group, equities analysts predict that Bank Of Montreal will post 10.65 EPS for the current fiscal year.

Bank Of Montreal Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 26th. Shareholders of record on Friday, October 30th will be issued a dividend of C$1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.0%. The ex-dividend date is Friday, October 30th. Bank Of Montreal’s payout ratio is 54.29%.

Institutional Investors Weigh In On Bank Of Montreal

A number of large investors have recently modified their holdings of the company. Apollon Wealth Management LLC raised its holdings in shares of Bank Of Montreal by 4.1% in the 3rd quarter. Apollon Wealth Management LLC now owns 3,302 shares of the bank’s stock valued at $552,000 after purchasing an additional 130 shares in the last quarter. Brucke Financial Inc. grew its stake in shares of Bank Of Montreal by 18.0% during the third quarter. Brucke Financial Inc. now owns 1,380 shares of the bank’s stock worth $231,000 after purchasing an additional 211 shares in the last quarter. Sowell Financial Services LLC acquired a new position in shares of Bank Of Montreal during the third quarter worth $206,000. Yousif Capital Management LLC grew its stake in shares of Bank Of Montreal by 13.5% during the third quarter. Yousif Capital Management LLC now owns 1,474 shares of the bank’s stock worth $247,000 after purchasing an additional 175 shares in the last quarter. Finally, NBT Bank N.A. acquired a new position in shares of Bank Of Montreal during the third quarter worth $7,596,000. 45.82% of the stock is owned by hedge funds and other institutional investors.

About Bank Of Montreal

Bank of Montreal, operating under the BMO Financial Group brand, is a diversified financial services company headquartered in Toronto, Canada. Founded in 1817, it is one of Canada’s oldest banks and serves individual, business, institutional and government customers.

BMO provides personal banking products such as deposit accounts, mortgages, consumer loans, credit cards and investment services. Its commercial banking operations offer lending, treasury management and other financial solutions to small and medium-sized businesses and larger corporate clients.

Through its wealth management business, BMO provides investment management, financial planning, private banking and brokerage services.