Bank of Montreal (NYSE:BMO - Get Free Report) TSE: BMO's stock price hit a new 52-week high on Wednesday . The company traded as high as $108.55 and last traded at $107.92, with a volume of 126534 shares traded. The stock had previously closed at $107.79.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on BMO. Scotiabank began coverage on Bank of Montreal in a research report on Thursday, May 15th. They issued a "sector perform" rating for the company. Wall Street Zen raised shares of Bank of Montreal from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. Cibc World Mkts lowered shares of Bank of Montreal from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. Royal Bank of Canada upped their price target on shares of Bank of Montreal from $161.00 to $163.00 and gave the company an "outperform" rating in a research report on Wednesday, February 26th. Finally, CIBC reaffirmed a "neutral" rating on shares of Bank of Montreal in a research report on Tuesday, May 20th. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $129.50.
View Our Latest Research Report on Bank of Montreal
Bank of Montreal Stock Up 0.1%
The company's fifty day moving average is $97.86 and its 200-day moving average is $98.12. The company has a market capitalization of $78.18 billion, a PE ratio of 15.51, a price-to-earnings-growth ratio of 1.43 and a beta of 1.08. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.98 and a current ratio of 0.98.
Bank of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last released its earnings results on Wednesday, May 28th. The bank reported $1.84 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.84. The company had revenue of $6.32 billion during the quarter, compared to analyst estimates of $8.79 billion. Bank of Montreal had a net margin of 9.22% and a return on equity of 10.18%. The firm's quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.59 EPS. As a group, analysts predict that Bank of Montreal will post 7.71 EPS for the current fiscal year.
Bank of Montreal Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 26th. Investors of record on Wednesday, July 30th will be issued a $1.1801 dividend. This represents a $4.72 annualized dividend and a yield of 4.36%. This is a positive change from Bank of Montreal's previous quarterly dividend of $1.11. The ex-dividend date of this dividend is Wednesday, July 30th. Bank of Montreal's dividend payout ratio is currently 58.75%.
Institutional Investors Weigh In On Bank of Montreal
Several hedge funds and other institutional investors have recently added to or reduced their stakes in BMO. Norges Bank purchased a new stake in Bank of Montreal in the 4th quarter worth approximately $1,014,633,000. Goldman Sachs Group Inc. boosted its stake in Bank of Montreal by 213.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,259,505 shares of the bank's stock worth $406,825,000 after purchasing an additional 2,899,061 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Bank of Montreal by 42.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 6,838,171 shares of the bank's stock worth $664,742,000 after purchasing an additional 2,044,862 shares during the period. Mackenzie Financial Corp boosted its stake in Bank of Montreal by 15.4% in the 4th quarter. Mackenzie Financial Corp now owns 12,215,628 shares of the bank's stock worth $1,184,636,000 after purchasing an additional 1,630,962 shares during the period. Finally, Canada Pension Plan Investment Board boosted its stake in Bank of Montreal by 66.5% in the 1st quarter. Canada Pension Plan Investment Board now owns 3,676,637 shares of the bank's stock worth $351,154,000 after purchasing an additional 1,469,084 shares during the period. 45.82% of the stock is owned by hedge funds and other institutional investors.
About Bank of Montreal
(
Get Free Report)
Bank of Montreal provides diversified financial services primarily in North America. It operates through Canadian P&C, U.S P&C, BMO Wealth Management, and BMO Capital Markets segments. The company's personal banking products and services include deposits, mortgages, home lending, consumer credit, small business lending, credit cards, cash management, financial and investment advice, and other banking services; and commercial banking products and services comprise various of financing options and treasury and payment solutions, as well as risk management products.
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