Bank Of Montreal (NYSE:BMO) (TSE:BMO) has earned an average recommendation of “Hold” from the twelve analysts that are covering the firm, MarketBeat reports. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $97.20.
A number of equities analysts have recently issued reports on BMO shares. Zacks Investment Research upgraded shares of Bank Of Montreal from a “sell” rating to a “hold” rating in a research note on Monday, May 15th. Citigroup Inc. upgraded shares of Bank Of Montreal from a “neutral” rating to a “buy” rating in a research note on Thursday, May 18th. Barclays PLC upgraded shares of Bank Of Montreal from an “underweight” rating to an “equal weight” rating in a research note on Tuesday, May 23rd. Royal Bank Of Canada dropped their price objective on shares of Bank Of Montreal to $108.00 and set a “sector perform” rating for the company in a research note on Thursday, May 25th. Finally, TD Securities upgraded shares of Bank Of Montreal from a “hold” rating to a “buy” rating in a research note on Thursday, June 1st. They noted that the move was a valuation call.
Bank Of Montreal (BMO) traded up 0.12% on Tuesday, hitting $75.08. 515,961 shares of the stock traded hands. The firm has a market cap of $50.80 billion, a price-to-earnings ratio of 11.65 and a beta of 1.03. Bank Of Montreal has a 12-month low of $62.32 and a 12-month high of $78.00. The stock has a 50-day moving average of $73.98 and a 200-day moving average of $72.98.
Bank Of Montreal (NYSE:BMO) (TSE:BMO) last announced its quarterly earnings data on Tuesday, August 29th. The bank reported $1.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.04). Bank Of Montreal had a net margin of 20.04% and a return on equity of 14.36%. The business had revenue of $5.46 billion during the quarter, compared to analyst estimates of $5.52 billion. During the same quarter in the prior year, the company posted $1.94 EPS. The company’s quarterly revenue was down 3.1% compared to the same quarter last year. Analysts forecast that Bank Of Montreal will post $6.63 earnings per share for the current year.
Bank Of Montreal announced that its board has authorized a stock buyback program on Friday, June 23rd that permits the company to repurchase 4,000,000 outstanding shares. This repurchase authorization permits the bank to buy shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 28th. Stockholders of record on Wednesday, November 1st will be issued a $0.717 dividend. This is a positive change from Bank Of Montreal’s previous quarterly dividend of $0.66. The ex-dividend date is Tuesday, October 31st. This represents a $2.87 annualized dividend and a dividend yield of 3.82%. Bank Of Montreal’s dividend payout ratio is presently 45.28%.
Institutional investors and hedge funds have recently bought and sold shares of the company. Canada Pension Plan Investment Board grew its holdings in Bank Of Montreal by 1,053.6% during the 2nd quarter. Canada Pension Plan Investment Board now owns 3,060,416 shares of the bank’s stock worth $224,388,000 after acquiring an additional 2,795,116 shares during the last quarter. Public Sector Pension investment Board grew its holdings in Bank Of Montreal by 13,359.7% during the 2nd quarter. Public Sector Pension investment Board now owns 1,291,596 shares of the bank’s stock worth $94,699,000 after acquiring an additional 1,282,000 shares during the last quarter. Skandinaviska Enskilda Banken AB publ bought a new stake in Bank Of Montreal during the 1st quarter worth about $72,790,000. Arrowstreet Capital Limited Partnership grew its holdings in Bank Of Montreal by 123.5% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,405,000 shares of the bank’s stock worth $103,154,000 after acquiring an additional 776,318 shares during the last quarter. Finally, Scotia Capital Inc. grew its holdings in Bank Of Montreal by 50.2% during the 2nd quarter. Scotia Capital Inc. now owns 2,271,198 shares of the bank’s stock worth $166,780,000 after acquiring an additional 758,940 shares during the last quarter. 42.77% of the stock is currently owned by institutional investors and hedge funds.
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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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