Bank Of Montreal (NYSE:BMO – Get Free Report) (TSE:BMO) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $166.55 and last traded at $165.66, with a volume of 24973 shares trading hands. The stock had previously closed at $164.37.
Analyst Upgrades and Downgrades
BMO has been the topic of several research reports. TD Securities reissued a “buy” rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. Raymond James Financial reissued an “outperform” rating on shares of Bank Of Montreal in a report on Tuesday, May 12th. Desjardins reaffirmed a “hold” rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Barclays reiterated an “underweight” rating on shares of Bank Of Montreal in a research note on Thursday, May 28th. Finally, Scotiabank raised Bank Of Montreal from a “sector perform” rating to a “sector outperform” rating in a report on Monday, June 1st. Five equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Bank Of Montreal presently has an average rating of “Hold” and an average target price of $163.00.
Read Our Latest Stock Analysis on Bank Of Montreal
Bank Of Montreal Price Performance
Bank Of Montreal (NYSE:BMO – Get Free Report) (TSE:BMO) last announced its quarterly earnings results on Wednesday, May 27th. The bank reported $2.68 EPS for the quarter, beating the consensus estimate of $2.54 by $0.14. The company had revenue of $7.04 billion for the quarter, compared to analyst estimates of $6.98 billion. Bank Of Montreal had a net margin of 12.60% and a return on equity of 13.04%. Bank Of Montreal’s revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the business earned $2.62 earnings per share. Research analysts anticipate that Bank Of Montreal will post 11.82 earnings per share for the current year.
Bank Of Montreal Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Thursday, July 30th will be paid a $1.71 dividend. The ex-dividend date of this dividend is Thursday, July 30th. This is a positive change from Bank Of Montreal’s previous quarterly dividend of $1.67. This represents a $6.84 annualized dividend and a dividend yield of 4.1%. Bank Of Montreal’s dividend payout ratio (DPR) is currently 50.96%.
Institutional Investors Weigh In On Bank Of Montreal
Several institutional investors have recently bought and sold shares of the stock. AQR Capital Management LLC raised its position in shares of Bank Of Montreal by 87.1% during the 1st quarter. AQR Capital Management LLC now owns 5,742 shares of the bank’s stock worth $548,000 after buying an additional 2,673 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of Bank Of Montreal during the second quarter valued at approximately $1,018,000. Cerity Partners LLC raised its holdings in Bank Of Montreal by 1.4% during the second quarter. Cerity Partners LLC now owns 12,364 shares of the bank’s stock worth $1,368,000 after purchasing an additional 167 shares in the last quarter. Qube Research & Technologies Ltd lifted its position in Bank Of Montreal by 166.3% in the second quarter. Qube Research & Technologies Ltd now owns 411,108 shares of the bank’s stock worth $45,518,000 after purchasing an additional 256,755 shares during the period. Finally, NewEdge Advisors LLC boosted its stake in Bank Of Montreal by 5,614.3% during the 2nd quarter. NewEdge Advisors LLC now owns 2,800 shares of the bank’s stock valued at $310,000 after purchasing an additional 2,751 shares in the last quarter. Institutional investors and hedge funds own 45.82% of the company’s stock.
About Bank Of Montreal
Bank of Montreal (NYSE:BMO), commonly known as BMO Financial Group, is one of Canada’s largest and longest-established banks. Founded in Montreal and headquartered in Montreal, Quebec, the bank provides a broad range of financial services to retail, commercial, corporate and institutional clients. BMO is publicly listed in both Canada and the United States and operates under a consolidated financial services model that integrates banking, capital markets, wealth management and asset management activities.
BMO’s core businesses include personal and commercial banking—offering checking and savings accounts, lending, mortgages, and small-business services—alongside wealth management and private banking through its asset and investment management divisions.
Featured Stories
- Five stocks we like better than Bank Of Montreal
- The Bank of Mom and Dad Is Booming—3 Stocks to Watch
- Corning Is Paving AI’s Future With Glass
- Why’s Amazon Suddenly Lagging the S&P 500, and Is It a Warning?
- Crypto Winter Is Here: 3 Stocks To Put On Ice This Summer
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.
