Bank of Montreal (NYSE:BMO) (TSE:BMO) has earned a consensus recommendation of “Buy” from the twelve analysts that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and eight have given a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $102.30.
Several analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Bank of Montreal from a “hold” rating to a “buy” rating and set a $87.00 price target for the company in a research report on Wednesday, February 17th. Credit Suisse Group upgraded shares of Bank of Montreal from a “neutral” rating to an “outperform” rating and upped their price target for the company from $97.00 to $108.00 in a research report on Tuesday, March 2nd. Bank of America upgraded shares of Bank of Montreal from a “neutral” rating to a “buy” rating in a report on Monday, March 8th. BMO Capital Markets upgraded shares of Bank of Montreal from a “neutral” rating to a “buy” rating in a report on Tuesday, March 2nd. Finally, Scotiabank upgraded shares of Bank of Montreal from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday, February 17th.
Hedge funds and other institutional investors have recently made changes to their positions in the business. International Assets Investment Management LLC bought a new position in shares of Bank of Montreal during the fourth quarter valued at approximately $26,000. Reby Advisors LLC bought a new position in shares of Bank of Montreal during the fourth quarter valued at approximately $30,000. Perigon Wealth Management LLC bought a new position in shares of Bank of Montreal during the fourth quarter valued at approximately $41,000. JJJ Advisors Inc. increased its stake in shares of Bank of Montreal by 1,008.4% during the fourth quarter. JJJ Advisors Inc. now owns 920 shares of the bank’s stock valued at $70,000 after purchasing an additional 837 shares in the last quarter. Finally, Graves Light Private Wealth Management Inc. bought a new position in shares of Bank of Montreal during the fourth quarter valued at approximately $76,000. 39.18% of the stock is owned by institutional investors and hedge funds.
NYSE:BMO traded down $0.55 during midday trading on Monday, hitting $89.71. The company had a trading volume of 15,188 shares, compared to its average volume of 743,592. Bank of Montreal has a 52-week low of $43.26 and a 52-week high of $90.91. The stock’s fifty day moving average price is $86.26 and its 200-day moving average price is $74.31. The company has a market capitalization of $58.05 billion, a PE ratio of 16.03, a P/E/G ratio of 1.51 and a beta of 1.29. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.17.
Bank of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings results on Monday, February 22nd. The bank reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $1.40. Bank of Montreal had a net margin of 14.82% and a return on equity of 10.69%. The business had revenue of $6.37 billion during the quarter, compared to analyst estimates of $5.96 billion. During the same period in the prior year, the business posted $2.41 earnings per share. The company’s revenue was up 5.7% on a year-over-year basis. As a group, research analysts forecast that Bank of Montreal will post 6.48 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 26th. Investors of record on Monday, May 3rd will be paid a $0.8402 dividend. This is an increase from Bank of Montreal’s previous quarterly dividend of $0.80. This represents a $3.36 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date is Friday, April 30th. Bank of Montreal’s dividend payout ratio is presently 58.12%.
About Bank of Montreal
Bank of Montreal provides diversified financial services primarily in North America. The company's personal banking products and services include checking and savings accounts, credit cards, mortgages, and financial and investment advice services; and commercial banking products and services comprise business deposit accounts, commercial credit cards, business loans and commercial mortgages, cash management solutions, foreign exchange, specialized banking programs, treasury and payment solutions, and risk management products for small business and commercial banking customers.
Featured Story: What are momentum indicators and what do they show?
Receive News & Ratings for Bank of Montreal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of Montreal and related companies with MarketBeat.com's FREE daily email newsletter.