Bank of Montreal (NYSE:BMO) Rating Increased to Hold at ValuEngine
Other equities analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of Bank of Montreal from a buy rating to a hold rating in a research note on Monday, November 18th. Citigroup cut shares of Bank of Montreal from a buy rating to a neutral rating and set a $108.00 price objective for the company. in a research report on Tuesday, December 17th. CIBC upgraded shares of Bank of Montreal from a neutral rating to a sector outperform rating and set a $109.00 price objective for the company in a research report on Tuesday, December 3rd. Oppenheimer upgraded shares of Bank of Montreal from a neutral rating to an outperform rating in a research report on Wednesday, December 4th. Finally, Credit Suisse Group upped their price objective on shares of Bank of Montreal from $93.00 to $94.00 and gave the stock a neutral rating in a research report on Wednesday, December 4th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. The company has an average rating of Hold and an average price target of $99.25.
BMO opened at $79.77 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a fifty day moving average price of $77.29 and a 200 day moving average price of $74.53. Bank of Montreal has a 1 year low of $66.42 and a 1 year high of $79.92. The stock has a market cap of $50.81 billion, a P/E ratio of 12.22, a P/E/G ratio of 2.08 and a beta of 1.18.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Monday, February 3rd will be given a dividend of $0.7965 per share. The ex-dividend date is Friday, January 31st. This is a boost from Bank of Montreal’s previous quarterly dividend of $0.78. This represents a $3.19 dividend on an annualized basis and a yield of 3.99%. Bank of Montreal’s dividend payout ratio is currently 44.08%.
A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Bank of Montreal by 2.2% during the second quarter. Vanguard Group Inc. now owns 18,196,696 shares of the bank’s stock worth $1,372,940,000 after acquiring an additional 400,182 shares during the period. Mackenzie Financial Corp raised its position in Bank of Montreal by 6.7% during the second quarter. Mackenzie Financial Corp now owns 9,125,347 shares of the bank’s stock worth $688,507,000 after acquiring an additional 576,021 shares during the period. Beutel Goodman & Co Ltd. raised its position in Bank of Montreal by 3.5% during the third quarter. Beutel Goodman & Co Ltd. now owns 6,608,610 shares of the bank’s stock worth $28,632,000 after acquiring an additional 220,938 shares during the period. Alberta Investment Management Corp raised its position in Bank of Montreal by 96.6% during the third quarter. Alberta Investment Management Corp now owns 1,618,700 shares of the bank’s stock worth $119,300,000 after acquiring an additional 795,400 shares during the period. Finally, Newport Trust Co raised its position in Bank of Montreal by 1.4% during the third quarter. Newport Trust Co now owns 1,429,394 shares of the bank’s stock worth $105,418,000 after acquiring an additional 20,001 shares during the period. Institutional investors own 41.84% 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, 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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