Bank Of Montreal (BMO) Given Sector Perform Rating at Scotiabank
Scotiabank restated their sector perform rating on shares of Bank Of Montreal (NYSE:BMO) in a research report report published on Wednesday. The brokerage currently has a $86.00 target price on the stock, down from their prior target price of $89.00.
Several other research firms have also recently issued reports on BMO. Royal Bank Of Canada raised their price target on shares of Bank Of Montreal from $84.00 to $88.00 and gave the stock a sector perform rating in a research note on Wednesday, August 24th. RBC Capital Markets reaffirmed a sector perform rating and set a $88.00 price target (up from $84.00) on shares of Bank Of Montreal in a research note on Thursday, August 25th. National Bank Financial reaffirmed a sector perform rating and set a $88.00 price target (up from $84.00) on shares of Bank Of Montreal in a research note on Thursday, August 25th. Desjardins restated a hold rating and issued a $86.00 target price (up previously from $84.00) on shares of Bank Of Montreal in a research note on Thursday, August 25th. Finally, CIBC restated a sector perform rating on shares of Bank Of Montreal in a research note on Thursday, August 25th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Bank Of Montreal presently has a consensus rating of Hold and an average target price of $83.89.
Shares of Bank Of Montreal (NYSE:BMO) traded down 0.64% during midday trading on Wednesday, reaching $63.44. 152,144 shares of the company traded hands. Bank Of Montreal has a 12 month low of $47.54 and a 12 month high of $67.69. The company’s 50 day moving average is $65.67 and its 200-day moving average is $63.96. The stock has a market capitalization of $40.92 billion, a price-to-earnings ratio of 12.46 and a beta of 1.00.
Bank Of Montreal (NYSE:BMO) last posted its earnings results on Tuesday, August 23rd. The company reported $1.94 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.83 by $0.11. Bank Of Montreal had a net margin of 17.82% and a return on equity of 12.66%. The firm earned $5.63 billion during the quarter, compared to the consensus estimate of $3.88 billion. During the same period last year, the firm posted $1.86 EPS. The firm’s revenue for the quarter was up 16.7% on a year-over-year basis. Equities research analysts forecast that Bank Of Montreal will post $5.52 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, November 28th. Shareholders of record on Tuesday, November 1st will be paid a dividend of $0.6696 per share. This is a boost from Bank Of Montreal’s previous quarterly dividend of $0.66. This represents a $2.68 annualized dividend and a dividend yield of 4.19%. The ex-dividend date is Friday, October 28th. Bank Of Montreal’s dividend payout ratio (DPR) is currently 52.47%.
Large investors have recently added to or reduced their stakes in the company. Bank of Montreal Can purchased a new stake in Bank Of Montreal during the second quarter valued at about $980,506,000. Capital Research Global Investors boosted its stake in Bank Of Montreal by 97.1% in the second quarter. Capital Research Global Investors now owns 12,729,160 shares of the company’s stock valued at $807,426,000 after buying an additional 6,269,734 shares in the last quarter. Mackenzie Financial Corp purchased a new stake in Bank Of Montreal during the second quarter valued at about $201,621,000. Emerald Acquisition Ltd. purchased a new stake in Bank Of Montreal during the second quarter valued at about $121,542,000. Finally, Evercore Trust Company N.A. purchased a new stake in Bank Of Montreal during the second quarter valued at about $94,607,000. 48.03% of the stock is currently owned by institutional investors.
About Bank Of Montreal
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.
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.