Bank of Montreal’s (BMO) Hold Rating Reiterated at Barclays

Barclays reiterated their hold rating on shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) in a research report report published on Tuesday.

BMO has been the topic of a number of other reports. Canaccord Genuity raised shares of Bank of Montreal from a hold rating to a buy rating in a research note on Wednesday, August 29th. Zacks Investment Research downgraded shares of Bank of Montreal from a hold rating to a sell rating in a research note on Friday, November 9th. TD Securities downgraded shares of Bank of Montreal from a buy rating to a hold rating in a research note on Tuesday. Cormark downgraded shares of Bank of Montreal from an outperform rating to a market perform rating and lowered their target price for the company from $115.00 to $109.00 in a research note on Wednesday. Finally, ValuEngine downgraded shares of Bank of Montreal from a hold rating to a sell rating in a research note on Thursday, November 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $106.00.

Shares of BMO opened at $70.23 on Tuesday. The company has a market capitalization of $45.93 billion, a P/E ratio of 10.23, a P/E/G ratio of 1.67 and a beta of 1.11. The company has a current ratio of 1.17, a quick ratio of 1.16 and a debt-to-equity ratio of 0.16. Bank of Montreal has a 1-year low of $69.00 and a 1-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 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.57. The business had revenue of $5.92 billion for 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%. Bank of Montreal’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the firm posted $1.94 earnings per share. On average, analysts anticipate that Bank of Montreal will post 7.24 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 26th. Shareholders of record on Friday, February 1st will be given a dividend of $0.753 per share. This is a boost from Bank of Montreal’s previous quarterly dividend of $0.74. This represents a $3.01 dividend on an annualized basis and a yield of 4.29%. The ex-dividend date is Thursday, January 31st. Bank of Montreal’s dividend payout ratio (DPR) is presently 41.77%.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Millennium Management LLC purchased a new position in shares of Bank of Montreal during the 1st quarter valued at $216,000. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Bank of Montreal by 12.1% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 27,464 shares of the bank’s stock valued at $2,123,000 after acquiring an additional 2,955 shares in the last quarter. CIBC Private Wealth Group LLC grew its holdings in shares of Bank of Montreal by 30.8% during the 2nd quarter. CIBC Private Wealth Group LLC now owns 4,459 shares of the bank’s stock valued at $345,000 after acquiring an additional 1,050 shares in the last quarter. State of Wisconsin Investment Board grew its holdings in shares of Bank of Montreal by 9.5% during the 2nd quarter. State of Wisconsin Investment Board now owns 562,267 shares of the bank’s stock valued at $43,436,000 after acquiring an additional 48,734 shares in the last quarter. Finally, Financial Counselors Inc. grew its holdings in shares of Bank of Montreal by 23.0% during the 2nd quarter. Financial Counselors Inc. now owns 14,020 shares of the bank’s stock valued at $1,083,000 after acquiring an additional 2,618 shares in the last quarter. Institutional investors and hedge funds own 43.89% of the company’s stock.

About Bank of Montreal

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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