Shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) have received a consensus recommendation of “Hold” from the twelve research firms that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $105.33.
A number of research analysts recently issued reports on BMO shares. Cormark downgraded shares of Bank of Montreal from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $115.00 to $109.00 in a research note on Wednesday, December 5th. Zacks Investment Research upgraded shares of Bank of Montreal from a “hold” rating to a “buy” rating and set a $87.00 price target for the company in a research note on Monday, March 4th. Barclays reiterated a “hold” rating on shares of Bank of Montreal in a research note on Tuesday, December 4th. TD Securities reiterated a “hold” rating on shares of Bank of Montreal in a research note on Monday, December 10th. Finally, Canaccord Genuity restated a “buy” rating on shares of Bank of Montreal in a research report on Thursday, November 22nd.
Shares of NYSE BMO traded down $1.11 during midday trading on Friday, hitting $76.20. The company’s stock had a trading volume of 13,357 shares, compared to its average volume of 576,711. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.03 and a current ratio of 1.03. Bank of Montreal has a 1 year low of $62.79 and a 1 year high of $84.36. The firm has a market cap of $49.35 billion, a price-to-earnings ratio of 11.06, a PEG ratio of 2.18 and a beta of 1.18.
Bank of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings data on Tuesday, February 26th. The bank reported $2.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.70 by $0.62. Bank of Montreal had a net margin of 17.43% and a return on equity of 14.89%. The business had revenue of $5.59 billion during the quarter, compared to analyst estimates of $5.61 billion. During the same quarter last year, the firm posted $2.12 earnings per share. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. Equities analysts predict that Bank of Montreal will post 7.31 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Wednesday, May 1st will be paid a $0.762 dividend. This is a boost from Bank of Montreal’s previous quarterly dividend of $0.75. This represents a $3.05 annualized dividend and a yield of 4.00%. The ex-dividend date is Tuesday, April 30th. Bank of Montreal’s payout ratio is currently 43.63%.
A number of institutional investors and hedge funds have recently made changes to their positions in BMO. Gantzert Investment Co. LLC ADV purchased a new stake in shares of Bank of Montreal during the 4th quarter worth $31,000. Financial Gravity Companies Inc. purchased a new stake in shares of Bank of Montreal during the 4th quarter worth $37,000. Princeton Global Asset Management LLC purchased a new stake in shares of Bank of Montreal during the 4th quarter worth $39,000. Heritage Trust Co purchased a new stake in shares of Bank of Montreal during the 4th quarter worth $41,000. Finally, Lindbrook Capital LLC purchased a new stake in shares of Bank of Montreal during the 4th quarter worth $46,000. 43.71% of the stock is currently owned by institutional investors.
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, 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, as well as wealth management products and services, such as insurance products.
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