Bank Of Montreal (NYSE:BMO) Given Average Recommendation of “Hold” by Analysts
Bank Of Montreal (NYSE:BMO) (TSE:BMO) has been given an average recommendation of “Hold” by the fifteen brokerages that are currently covering the company, MarketBeat Ratings reports. Ten analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $91.40.
A number of analysts have recently weighed in on BMO shares. Zacks Investment Research downgraded shares of Bank Of Montreal from a “hold” rating to a “sell” rating in a report on Tuesday, May 9th. BidaskClub raised shares of Bank Of Montreal from a “strong sell” rating to a “sell” rating in a report on Thursday, June 15th. Barclays PLC raised shares of Bank Of Montreal from an “underweight” rating to an “equal weight” rating in a report on Tuesday, May 23rd. Canaccord Genuity started coverage on shares of Bank Of Montreal in a report on Tuesday, July 18th. They set a “hold” rating for the company. Finally, Citigroup Inc. raised shares of Bank Of Montreal from a “neutral” rating to a “buy” rating in a report on Thursday, May 18th.
Shares of Bank Of Montreal (BMO) traded up 0.21% on Monday, reaching $76.98. 270,906 shares of the company’s stock were exchanged. The company has a market cap of $50.19 billion, a price-to-earnings ratio of 12.24 and a beta of 1.01. Bank Of Montreal has a 12 month low of $62.32 and a 12 month high of $78.00. The firm’s 50-day moving average price is $72.54 and its 200 day moving average price is $73.40.
Bank Of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings data on Wednesday, May 24th. The bank reported $1.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.40 by $0.05. The firm had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.26 billion. Bank Of Montreal had a net margin of 19.60% and a return on equity of 14.25%. The business’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.73 EPS. Equities research analysts predict that Bank Of Montreal will post $6.34 EPS for the current fiscal year.
Bank Of Montreal announced that its board has authorized a stock buyback program on Thursday, April 27th that permits the company to buyback 15,000,000 shares. This buyback authorization permits the bank to repurchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 28th. Stockholders of record on Tuesday, August 1st will be given a dividend of $0.6616 per share. This represents a $2.65 annualized dividend and a dividend yield of 3.44%. The ex-dividend date of this dividend is Friday, July 28th. Bank Of Montreal’s dividend payout ratio (DPR) is presently 43.85%.
Several large investors have recently bought and sold shares of the company. Bronfman E.L. Rothschild L.P. boosted its stake in Bank Of Montreal by 1.7% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,377 shares of the bank’s stock valued at $103,000 after buying an additional 23 shares during the period. BNP Paribas Arbitrage SA purchased a new stake in Bank Of Montreal during the first quarter valued at $121,000. Signature Estate & Investment Advisors LLC purchased a new stake in Bank Of Montreal during the first quarter valued at $150,000. Parallel Advisors LLC boosted its stake in Bank Of Montreal by 5.0% in the first quarter. Parallel Advisors LLC now owns 2,071 shares of the bank’s stock valued at $145,000 after buying an additional 99 shares during the period. Finally, IHT Wealth Management LLC boosted its stake in Bank Of Montreal by 38.7% in the first quarter. IHT Wealth Management LLC now owns 2,150 shares of the bank’s stock valued at $160,000 after buying an additional 600 shares during the period. Institutional investors own 47.89% of the company’s stock.
Bank Of Montreal Company Profile
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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