Bank Of Montreal (NYSE:BMO) (TSE:BMO) has been assigned a consensus rating of “Hold” from the fifteen analysts that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $91.40.
BMO has been the subject of several research reports. Zacks Investment Research raised shares of Bank Of Montreal from a “hold” rating to a “buy” rating and set a $85.00 price target for the company in a research report on Tuesday, July 18th. Royal Bank Of Canada lowered their price target on shares of Bank Of Montreal to $108.00 and set a “sector perform” rating for the company in a research report on Thursday, May 25th. TD Securities raised shares of Bank Of Montreal from a “hold” rating to a “buy” rating in a research report on Thursday, June 1st. They noted that the move was a valuation call. Citigroup Inc. raised shares of Bank Of Montreal from a “neutral” rating to a “buy” rating in a research report on Thursday, May 18th. Finally, Canaccord Genuity initiated coverage on shares of Bank Of Montreal in a research report on Tuesday, July 18th. They issued a “hold” rating for the company.
A number of large investors have recently bought and sold shares of the stock. Advisory Services Network LLC boosted its stake in Bank Of Montreal by 409.1% in the second quarter. Advisory Services Network LLC now owns 1,568 shares of the bank’s stock worth $115,000 after buying an additional 1,260 shares during the last quarter. BB&T Investment Services Inc. bought a new position in shares of Bank Of Montreal during the second quarter worth about $300,000. Scotia Capital Inc. raised its position in shares of Bank Of Montreal by 50.2% in the second quarter. Scotia Capital Inc. now owns 2,271,198 shares of the bank’s stock worth $166,780,000 after buying an additional 758,940 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its position in shares of Bank Of Montreal by 1.0% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 27,828 shares of the bank’s stock worth $2,044,000 after buying an additional 287 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of Bank Of Montreal by 13.6% in the second quarter. The Manufacturers Life Insurance Company now owns 3,134,272 shares of the bank’s stock worth $229,733,000 after buying an additional 374,747 shares during the last quarter. 48.44% of the stock is owned by institutional investors.
Shares of Bank Of Montreal (BMO) traded up 0.55% during trading on Friday, hitting $72.76. 327,551 shares of the company’s stock were exchanged. The firm has a 50-day moving average price of $74.99 and a 200-day moving average price of $73.41. Bank Of Montreal has a one year low of $62.32 and a one year high of $78.00. The stock has a market cap of $47.44 billion, a P/E ratio of 11.62 and a beta of 1.02.
Bank Of Montreal (NYSE:BMO) (TSE:BMO) last announced its quarterly earnings results on Wednesday, May 24th. The bank reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.05. Bank Of Montreal had a net margin of 19.60% and a return on equity of 14.25%. The firm had revenue of $5.74 billion during the quarter, compared to analysts’ expectations of $5.26 billion. During the same quarter in the prior year, the company earned $1.73 EPS. The company’s revenue was up 12.5% compared to the same quarter last year. Equities research analysts expect that Bank Of Montreal will post $6.30 EPS for the current fiscal year.
Bank Of Montreal announced that its board has approved a share buyback plan on Thursday, April 27th that permits the company to buyback 15,000,000 shares. This buyback authorization permits the bank to reacquire shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 28th. Investors of record on Tuesday, August 1st will be given a dividend of $0.6616 per share. The ex-dividend date of this dividend is Friday, July 28th. This represents a $2.65 dividend on an annualized basis and a yield of 3.64%. Bank Of Montreal’s payout ratio is 46.18%.
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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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