Bank of Montreal (NYSE:BMO) (TSE:BMO) has been given a consensus recommendation of “Buy” by the seven analysts that are covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $101.33.

Several equities analysts have recently issued reports on BMO shares. Macquarie raised Bank of Montreal from a “neutral” rating to an “outperform” rating in a research note on Thursday, February 15th. Zacks Investment Research lowered Bank of Montreal from a “hold” rating to a “sell” rating in a research note on Wednesday, April 18th. ValuEngine lowered Bank of Montreal from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. Finally, National Bank Financial raised Bank of Montreal from a “sector perform” rating to an “outperform” rating in a research note on Thursday, May 31st.

A number of large investors have recently added to or reduced their stakes in the business. Mackenzie Financial Corp lifted its stake in Bank of Montreal by 362.8% in the fourth quarter. Mackenzie Financial Corp now owns 13,605,288 shares of the bank’s stock valued at $1,088,695,000 after buying an additional 10,665,251 shares during the period. CIBC World Markets Inc. increased its holdings in shares of Bank of Montreal by 7.2% in the first quarter. CIBC World Markets Inc. now owns 12,418,594 shares of the bank’s stock worth $938,473,000 after acquiring an additional 831,633 shares in the last quarter. CIBC Asset Management Inc increased its holdings in shares of Bank of Montreal by 10.6% in the first quarter. CIBC Asset Management Inc now owns 10,250,862 shares of the bank’s stock worth $773,153,000 after acquiring an additional 986,434 shares in the last quarter. Toronto Dominion Bank increased its holdings in shares of Bank of Montreal by 5.3% in the first quarter. Toronto Dominion Bank now owns 9,449,228 shares of the bank’s stock worth $713,768,000 after acquiring an additional 475,794 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp increased its holdings in shares of Bank of Montreal by 22.8% in the first quarter. OMERS ADMINISTRATION Corp now owns 5,480,512 shares of the bank’s stock worth $413,701,000 after acquiring an additional 1,016,130 shares in the last quarter. 43.15% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Bank of Montreal traded down $0.61, hitting $77.73, during trading hours on Thursday, according to Marketbeat.com. 337,165 shares of the stock traded hands, compared to its average volume of 394,840. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.14. Bank of Montreal has a 1-year low of $68.93 and a 1-year high of $84.71. The firm has a market capitalization of $50.14 billion, a PE ratio of 12.46, a price-to-earnings-growth ratio of 1.34 and a beta of 1.09.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last issued its quarterly earnings results on Wednesday, May 30th. The bank reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.67 by $0.53. Bank of Montreal had a return on equity of 14.38% and a net margin of 16.37%. The business had revenue of $5.62 billion for the quarter, compared to analyst estimates of $5.38 billion. During the same quarter in the prior year, the firm posted $1.92 earnings per share. The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. analysts anticipate that Bank of Montreal will post 6.95 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 28th. Shareholders of record on Wednesday, August 1st will be paid a $0.747 dividend. This represents a $2.99 annualized dividend and a yield of 3.84%. The ex-dividend date of this dividend is Tuesday, July 31st. Bank of Montreal’s payout ratio is 46.47%.

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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