Bank Of Montreal (BMO) Upgraded to Hold by BidaskClub
BidaskClub upgraded shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) from a sell rating to a hold rating in a research report sent to investors on Saturday.
Several other research firms also recently commented on BMO. Zacks Investment Research upgraded shares of Bank Of Montreal from a hold rating to a buy rating and set a $85.00 price target for the company in a research note on Tuesday, July 18th. Canaccord Genuity assumed coverage on shares of Bank Of Montreal in a research note on Tuesday, July 18th. They set a hold rating for the company. Barclays PLC upgraded shares of Bank Of Montreal from an underweight rating to an equal weight rating in a research note on Tuesday, May 23rd. Royal Bank Of Canada lowered their target price on shares of Bank Of Montreal to $108.00 and set a sector perform rating for the company in a research note on Thursday, May 25th. Finally, Citigroup Inc. upgraded shares of Bank Of Montreal from a neutral rating to a buy rating in a research note on Thursday, May 18th. Eleven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Bank Of Montreal currently has an average rating of Hold and a consensus price target of $88.38.
Bank Of Montreal (NYSE BMO) traded up 0.55% during mid-day trading on Friday, reaching $72.76. The company’s stock had a trading volume of 327,551 shares. Bank Of Montreal has a 52 week low of $62.32 and a 52 week high of $78.00. The firm has a market capitalization of $47.44 billion, a price-to-earnings ratio of 11.62 and a beta of 1.02. The company’s 50-day moving average price is $74.97 and its 200 day moving average price is $73.39.
Bank Of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings results on Wednesday, May 24th. The bank reported $1.45 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.40 by $0.05. The business had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.26 billion. Bank Of Montreal had a net margin of 19.60% and a return on equity of 14.25%. The company’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.73 earnings per share. On average, equities analysts forecast that Bank Of Montreal will post $6.30 earnings per share for the current fiscal year.
Bank Of Montreal announced that its Board of Directors has authorized a share repurchase plan on Thursday, April 27th that authorizes the company to repurchase 15,000,000 shares. This repurchase authorization authorizes the bank to purchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Monday, August 28th. Investors of record on Tuesday, August 1st will be given a $0.6616 dividend. The ex-dividend date is Friday, July 28th. This represents a $2.65 dividend on an annualized basis and a yield of 3.64%. Bank Of Montreal’s dividend payout ratio (DPR) is presently 46.18%.
A number of large investors have recently made changes to their positions in BMO. CGOV Asset Management boosted its stake in shares of Bank Of Montreal by 13.1% in the first quarter. CGOV Asset Management now owns 8,627 shares of the bank’s stock worth $857,000 after buying an additional 1,000 shares during the period. North Star Investment Management Corp. boosted its stake in shares of Bank Of Montreal by 69.2% in the first quarter. North Star Investment Management Corp. now owns 6,724 shares of the bank’s stock worth $503,000 after buying an additional 2,749 shares during the period. Pennsylvania Trust Co bought a new stake in shares of Bank Of Montreal during the second quarter worth $217,000. Bank of Nova Scotia boosted its stake in shares of Bank Of Montreal by 3.1% in the first quarter. Bank of Nova Scotia now owns 16,561,393 shares of the bank’s stock worth $1,237,062,000 after buying an additional 490,813 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Bank Of Montreal by 7.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,104,379 shares of the bank’s stock worth $82,597,000 after buying an additional 78,192 shares during the period. 48.44% of the stock is owned by hedge funds and other institutional investors.
About Bank Of Montreal
Bank of Montreal (the Bank) is a financial services provider. The Bank provides a range of personal and commercial banking, wealth management and investment banking products and services. The Bank conducts its business through three operating groups: Personal and Commercial Banking (P&C), Wealth Management and BMO Capital Markets.
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