TD Securities downgraded shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) from a buy rating to a hold rating in a research note issued to investors on Tuesday, The Fly reports.
Other equities analysts also recently issued reports about the stock. Canaccord Genuity reiterated a buy rating on shares of Bank of Montreal in a report on Thursday, November 22nd. Zacks Investment Research upgraded shares of Bank of Montreal from a hold rating to a buy rating and set a $89.00 price objective on the stock in a report on Tuesday, October 16th. Barclays restated a hold rating on shares of Bank of Montreal in a report on Friday, November 16th. Finally, ValuEngine downgraded shares of Bank of Montreal from a hold rating to a sell rating in a report on Thursday, November 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. Bank of Montreal currently has a consensus rating of Hold and an average price target of $106.00.
Shares of Bank of Montreal stock opened at $70.23 on Tuesday. The stock has a market capitalization of $45.93 billion, a price-to-earnings ratio of 10.05, a PEG ratio of 1.67 and a beta of 1.11. The company has a quick ratio of 1.16, a current ratio of 1.17 and a debt-to-equity ratio of 0.16. Bank of Montreal has a one year low of $69.00 and a one year high of $84.71.
Bank of Montreal (NYSE:BMO) (TSE:BMO) last announced its earnings results on Tuesday, December 4th. The bank reported $2.32 EPS for the quarter, topping the Zacks’ consensus estimate of $1.75 by $0.57. The business had revenue of $5.92 billion during the quarter, compared to the consensus estimate of $5.61 billion. Bank of Montreal had a net margin of 16.91% and a return on equity of 14.97%. The firm’s revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.94 earnings per share. On average, sell-side analysts anticipate that Bank of Montreal will post 7.24 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 26th. Stockholders of record on Friday, February 1st will be issued a dividend of $0.753 per share. The ex-dividend date of this dividend is Thursday, January 31st. This represents a $3.01 annualized dividend and a dividend yield of 4.29%. This is an increase from Bank of Montreal’s previous quarterly dividend of $0.74. Bank of Montreal’s dividend payout ratio is 41.77%.
Large investors have recently modified their holdings of the stock. BDO Wealth Advisors LLC acquired a new position in Bank of Montreal in the 2nd quarter worth approximately $105,000. Columbia Asset Management acquired a new position in Bank of Montreal in the 3rd quarter worth approximately $161,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new position in Bank of Montreal in the 2nd quarter worth approximately $155,000. Zions Bancorporation acquired a new position in Bank of Montreal in the 3rd quarter worth approximately $175,000. Finally, Clearwater Capital Advisors LLC acquired a new position in Bank of Montreal in the 3rd quarter worth approximately $202,000. Institutional investors own 43.89% of the company’s stock.
Bank of Montreal Company Profile
Bank of Montreal provides diversified financial services primarily in North America. It operates through three groups: Personal and Commercial Banking, Wealth Management, and BMO Capital Markets. The company's personal banking products and services include checking and savings accounts, credit cards, mortgages, creditor insurance products, and financial and investment advice services; and commercial banking products and services comprise business deposit accounts, commercial credit cards, business loans and commercial mortgages, cash management solutions, foreign exchange, and specialized banking programs for small business and commercial banking customers.
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