Bank Of Montreal (BMO) Shares Gap Up to $64.82
Bank Of Montreal (NYSE:BMO) shares gapped up prior to trading on Thursday . The stock had previously closed at $64.55, but opened at $64.82. Bank Of Montreal shares last traded at $65.71, with a volume of 349,370 shares trading hands.
A number of research analysts recently issued reports on BMO shares. Zacks Investment Research upgraded Bank Of Montreal from a “hold” rating to a “buy” rating and set a $70.00 target price for the company in a report on Thursday, May 5th. Canaccord Genuity downgraded Bank Of Montreal from a “buy” rating to a “hold” rating and lifted their price target for the stock from $85.00 to $86.00 in a report on Thursday, May 26th. TD Securities downgraded Bank Of Montreal from a “buy” rating to a “hold” rating and set a $86.00 price target for the company. in a report on Thursday, May 26th. Scotiabank downgraded Bank Of Montreal from an “outperform” rating to a “sector perform” rating in a report on Thursday, May 26th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $84.00 price target on shares of Bank Of Montreal in a report on Thursday, May 26th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Bank Of Montreal currently has an average rating of “Hold” and an average price target of $80.10.
The company has a market cap of $42.19 billion and a PE ratio of 12.93. The stock’s 50-day moving average is $63.97 and its 200 day moving average is $59.50.
Bank Of Montreal (NYSE:BMO) last announced its quarterly earnings results on Wednesday, May 25th. The company reported $1.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.76 by $0.03. During the same quarter in the previous year, the business posted $1.71 earnings per share. On average, equities analysts expect that Bank Of Montreal will post $7.14 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 26th. Shareholders of record on Monday, August 1st will be given a $0.6568 dividend. The ex-dividend date is Wednesday, July 27th. This is a positive change from Bank Of Montreal’s previous quarterly dividend of $0.61. This represents a $2.63 dividend on an annualized basis and a yield of 4.01%.
Other institutional investors have recently bought and sold shares of the company. Nationwide Fund Advisors boosted its position in Bank Of Montreal by 2.7% in the fourth quarter. Nationwide Fund Advisors now owns 70,545 shares of the company’s stock worth $3,980,000 after buying an additional 1,829 shares during the last quarter. First Trust Advisors LP boosted its position in Bank Of Montreal by 11.7% in the fourth quarter. First Trust Advisors LP now owns 110,207 shares of the company’s stock worth $6,218,000 after buying an additional 11,534 shares during the last quarter. Oxford Asset Management purchased a new position in Bank Of Montreal during the fourth quarter worth $1,010,000. Comerica Bank boosted its position in Bank Of Montreal by 3.7% in the fourth quarter. Comerica Bank now owns 35,835 shares of the company’s stock worth $1,861,000 after buying an additional 1,287 shares during the last quarter. Finally, Todd Asset Management LLC purchased a new position in Bank Of Montreal during the fourth quarter worth $8,545,000.
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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