Bank Of Montreal (NYSE:BMO) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) from a hold rating to a strong-buy rating in a research report sent to investors on Thursday morning,Zacks.com reports.

A number of other research analysts have also weighed in on BMO. Scotiabank restated a “sector perform” rating on shares of Bank Of Montreal in a report on Friday, January 9th. Wall Street Zen upgraded shares of Bank Of Montreal from a “sell” rating to a “hold” rating in a research report on Sunday, February 8th. TD Securities raised shares of Bank Of Montreal from a “hold” rating to a “buy” rating in a research note on Tuesday, January 27th. National Bank Financial lowered shares of Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 1st. Finally, Raymond James Financial raised shares of Bank Of Montreal from a “market perform” rating to an “outperform” rating in a research note on Friday, February 13th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, Bank Of Montreal has a consensus rating of “Moderate Buy” and a consensus price target of $163.00.

Bank Of Montreal Stock Up 1.7%

BMO opened at $145.97 on Thursday. The company has a market cap of $103.09 billion, a PE ratio of 17.89, a price-to-earnings-growth ratio of 1.00 and a beta of 0.94. Bank Of Montreal has a twelve month low of $85.40 and a twelve month high of $146.35. The company has a 50-day moving average price of $135.95 and a 200 day moving average price of $128.10. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.11.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings data on Thursday, December 4th. The bank reported $2.36 EPS for the quarter, topping the consensus estimate of $2.16 by $0.20. The company had revenue of $6.67 billion during the quarter, compared to analyst estimates of $6.51 billion. Bank Of Montreal had a return on equity of 11.76% and a net margin of 11.13%.Bank Of Montreal’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.90 EPS. Sell-side analysts expect that Bank Of Montreal will post 7.71 earnings per share for the current fiscal year.

Bank Of Montreal Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 26th. Shareholders of record on Friday, January 30th will be given a $1.67 dividend. The ex-dividend date of this dividend is Friday, January 30th. This represents a $6.68 dividend on an annualized basis and a yield of 4.6%. This is an increase from Bank Of Montreal’s previous quarterly dividend of $1.63. Bank Of Montreal’s dividend payout ratio is 59.68%.

Hedge Funds Weigh In On Bank Of Montreal

Institutional investors and hedge funds have recently made changes to their positions in the stock. True Wealth Design LLC acquired a new stake in Bank Of Montreal in the third quarter valued at approximately $28,000. WFA of San Diego LLC purchased a new stake in shares of Bank Of Montreal in the 2nd quarter valued at approximately $28,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Bank Of Montreal in the 4th quarter valued at $29,000. Larson Financial Group LLC raised its holdings in shares of Bank Of Montreal by 466.7% in the 3rd quarter. Larson Financial Group LLC now owns 238 shares of the bank’s stock valued at $31,000 after purchasing an additional 196 shares in the last quarter. Finally, Flagship Harbor Advisors LLC purchased a new stake in shares of Bank Of Montreal during the 4th quarter worth $34,000. 45.82% of the stock is owned by institutional investors and hedge funds.

Bank Of Montreal Company Profile

Bank of Montreal (NYSE:BMO), commonly known as BMO Financial Group, is one of Canada’s largest and longest-established banks. Founded in Montreal and headquartered in Montreal, Quebec, the bank provides a broad range of financial services to retail, commercial, corporate and institutional clients. BMO is publicly listed in both Canada and the United States and operates under a consolidated financial services model that integrates banking, capital markets, wealth management and asset management activities.

BMO’s core businesses include personal and commercial banking—offering checking and savings accounts, lending, mortgages, and small-business services—alongside wealth management and private banking through its asset and investment management divisions.