BidaskClub cut shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) from a hold rating to a sell rating in a research report released on Saturday morning.
BMO has been the topic of several other reports. Zacks Investment Research raised shares of Bank Of Montreal from a sell rating to a hold rating in a report on Tuesday, June 20th. Barclays PLC raised shares of Bank Of Montreal from an underweight rating to an equal weight rating in a report on Tuesday, May 23rd. Canaccord Genuity initiated coverage on shares of Bank Of Montreal in a report on Tuesday, July 18th. They set a hold rating on the stock. Citigroup Inc. raised shares of Bank Of Montreal from a neutral rating to a buy rating in a report on Thursday, May 18th. Finally, TD Securities raised shares of Bank Of Montreal from a hold rating to a buy rating in a report on Thursday, June 1st. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company. Bank Of Montreal has a consensus rating of Hold and a consensus price target of $88.38.
Shares of Bank Of Montreal (NYSE:BMO) opened at 73.14 on Friday. The firm’s 50-day moving average price is $74.93 and its 200-day moving average price is $73.45. The firm has a market capitalization of $47.69 billion, a P/E ratio of 11.55 and a beta of 1.02. Bank Of Montreal has a 12-month low of $62.32 and a 12-month high of $78.00.
Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly earnings results on Wednesday, May 24th. The bank reported $1.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.05. The firm had revenue of $5.74 billion for the quarter, compared to analysts’ expectations of $5.26 billion. Bank Of Montreal had a net margin of 19.60% and a return on equity of 14.25%. The business’s revenue was up 12.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.73 EPS. Equities analysts predict that Bank Of Montreal will post $6.28 earnings per share for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 28th. Investors of record on Tuesday, August 1st will be paid 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 3.62%. Bank Of Montreal’s dividend payout ratio (DPR) is 46.18%.
Bank Of Montreal declared that its Board of Directors has initiated a share repurchase plan on Thursday, April 27th that permits the company to repurchase 15,000,000 outstanding shares. This repurchase authorization permits the bank to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp boosted its position in shares of Bank Of Montreal by 85.2% in the fourth quarter. State Street Corp now owns 39,089 shares of the bank’s stock worth $2,810,000 after buying an additional 17,977 shares during the period. Starfire Investment Advisers Inc. purchased a new position in shares of Bank Of Montreal during the first quarter worth about $259,000. Graybill Bartz & Assoc Ltd. boosted its position in shares of Bank Of Montreal by 0.5% in the first quarter. Graybill Bartz & Assoc Ltd. now owns 31,030 shares of the bank’s stock worth $2,321,000 after buying an additional 150 shares during the period. Berkshire Asset Management LLC PA boosted its position in shares of Bank Of Montreal by 8.8% in the first quarter. Berkshire Asset Management LLC PA now owns 102,933 shares of the bank’s stock worth $7,698,000 after buying an additional 8,341 shares during the period. Finally, CGOV Asset Management boosted its position 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. 48.44% of the stock is currently owned by institutional investors and hedge funds.
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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