Zacks Investment Research upgraded shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) from a hold rating to a strong-buy rating in a report released on Tuesday morning. The brokerage currently has $85.00 target price on the stock.
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. “
Several other analysts also recently issued reports on BMO. Dundee Securities started coverage on Bank Of Montreal in a research note on Wednesday, September 21st. They set a neutral rating on the stock. Credit Suisse Group downgraded Bank Of Montreal from a neutral rating to an underperform rating in a research note on Tuesday, October 4th. RBC Capital Markets reissued a sector perform rating and set a $88.00 target price on shares of Bank Of Montreal in a research note on Wednesday, October 5th. Scotiabank reissued a sector perform rating and set a $86.00 target price (down previously from $89.00) on shares of Bank Of Montreal in a research note on Wednesday, October 5th. Finally, Bank of America Corporation reissued a neutral rating on shares of Bank Of Montreal in a research note on Tuesday, November 1st. One research analyst has rated the stock with a sell rating, ten have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Bank Of Montreal has an average rating of Hold and an average price target of $86.91.
Bank Of Montreal (NYSE:BMO) traded up 1.56% during mid-day trading on Tuesday, hitting $75.01. The stock had a trading volume of 437,175 shares. The stock has a market cap of $48.61 billion, a price-to-earnings ratio of 14.34 and a beta of 1.07. Bank Of Montreal has a 12 month low of $47.54 and a 12 month high of $75.08. The stock’s 50-day moving average price is $70.75 and its 200-day moving average price is $66.08.
Bank Of Montreal (NYSE:BMO) last issued its earnings results on Tuesday, December 6th. The company reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.25. The company had revenue of $5.28 billion for the quarter. Bank Of Montreal had a return on equity of 13.38% and a net margin of 17.99%. The firm’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period last year, the business posted $1.90 EPS. On average, analysts predict that Bank Of Montreal will post $5.85 earnings per share for the current year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 28th. Investors of record on Wednesday, February 1st will be issued a dividend of $0.6549 per share. This represents a $2.62 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date is Monday, January 30th. Bank Of Montreal’s payout ratio is currently 50.19%.
A number of institutional investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC boosted its position 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 worth $123,000 after buying an additional 1,782 shares during the last quarter. Hudock Capital Group LLC boosted its position 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 worth $166,000 after buying an additional 9 shares during the last quarter. C M Bidwell & Associates Ltd. acquired a new position in Bank Of Montreal during the second quarter worth about $174,000. Stonebridge Capital Advisors LLC acquired a new position in Bank Of Montreal during the second quarter worth about $200,000. Finally, Compagnie Lombard Odier SCmA boosted its position in Bank Of Montreal by 12.8% in the third quarter. Compagnie Lombard Odier SCmA now owns 3,085 shares of the company’s stock worth $202,000 after buying an additional 350 shares during the last quarter. Institutional investors own 47.71% of the company’s stock.
About Bank Of Montreal
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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