Bank Of Montreal (BMO) Shares Gap Up to $64.82
Bank Of Montreal (NYSE:BMO) shares gapped up before the market opened 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 traded.
A number of brokerages have recently weighed in on BMO. Zacks Investment Research cut shares of Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 5th. Rafferty Capital Markets raised shares of Bank Of Montreal from a “hold” rating to a “buy” rating in a research note on Thursday, June 9th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $84.00 target price on shares of Bank Of Montreal in a research note on Thursday, May 26th. Scotiabank cut shares of Bank Of Montreal from an “outperform” rating to a “sector perform” rating in a research note on Thursday, May 26th. Finally, TD Securities cut shares of Bank Of Montreal from a “buy” rating to a “hold” rating and set a $86.00 target price for the company. in a research note on Thursday, May 26th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $80.10.
The firm’s 50-day moving average is $63.94 and its 200-day moving average is $59.44. The firm has a market cap of $42.17 billion and a price-to-earnings ratio of 12.80.
Bank Of Montreal (NYSE:BMO) last released its quarterly earnings results on Wednesday, May 25th. The company reported $1.73 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.76 by $0.03. During the same quarter last year, the business posted $1.71 EPS. Equities research analysts forecast that Bank Of Montreal will post $7.14 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 26th. Stockholders of record on Monday, August 1st will be issued a dividend of $0.6568 per share. This is a positive change from Bank Of Montreal’s previous quarterly dividend of $0.61. The ex-dividend date is Wednesday, July 27th. This represents a $2.63 dividend on an annualized basis and a dividend yield of 4.01%.
Other large investors have recently added to or reduced their stakes in the company. Comerica Bank raised its stake 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 in the last quarter. Legacy Capital Partners Inc. raised its stake in Bank Of Montreal by 1.0% in the fourth quarter. Legacy Capital Partners Inc. now owns 64,877 shares of the company’s stock worth $3,661,000 after buying an additional 627 shares in the last quarter. Azimuth Capital Management LLC raised its stake in Bank Of Montreal by 5.5% in the fourth quarter. Azimuth Capital Management LLC now owns 54,117 shares of the company’s stock worth $3,053,000 after buying an additional 2,820 shares in the last quarter. Rench Wealth Management Inc. raised its stake in Bank Of Montreal by 0.6% in the fourth quarter. Rench Wealth Management Inc. now owns 43,782 shares of the company’s stock worth $2,470,000 after buying an additional 245 shares in the last quarter. Finally, Todd Asset Management LLC purchased a new stake in Bank Of Montreal during the fourth quarter worth about $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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