Bank Of Montreal (NYSE:BMO) Stock Now Rated "Hold" by Wall Street Brokerages

Key Points

• Analyst opinion is mixed: 13 firms give BMO an average “Hold” rating—six Buys, six Holds, and one Sell—with an average one-year price target of $244.
• BMO beat quarterly earnings and revenue expectations, reporting EPS of $2.84 versus $2.71 expected and revenue of C$7.10 billion, up 10.1% year over year.
• The bank announced a quarterly dividend of C$1.71 per share, equivalent to C$6.84 annualized and a 3.9% yield.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO has been assigned an average rating of "Hold" from the thirteen research firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $244.00.

Several analysts have issued reports on BMO shares. Canadian Imperial Bank of Commerce downgraded shares of Bank Of Montreal from a "sector outperform" rating to a "neutral" rating in a research report on Tuesday, August 18th. Weiss Ratings cut shares of Bank Of Montreal from a "buy (b+)" rating to a "buy (b)" rating in a research report on Wednesday, October 14th. TD Securities restated a "buy" rating on shares of Bank Of Montreal in a research note on Wednesday, August 12th. Barclays reaffirmed an "underweight" rating on shares of Bank Of Montreal in a report on Friday, August 21st. Finally, Keefe, Bruyette & Woods assumed coverage on shares of Bank Of Montreal in a research note on Friday, August 21st. They set an "outperform" rating on the stock.

Bank Of Montreal Price Performance

Bank Of Montreal stock traded up $0.33 during midday trading on Friday, reaching $173.26. 282,628 shares of the company were exchanged, compared to its average volume of 691,383. The company has a market capitalization of $119.83 billion, a price-to-earnings ratio of 19.55, a P/E/G ratio of 0.94 and a beta of 0.93. The firm's 50-day simple moving average is $170.56 and its 200-day simple moving average is $161.74. Bank Of Montreal has a 1 year low of $119.84 and a 1 year high of $187.22. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.01 and a current ratio of 1.01.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last announced its earnings results on Tuesday, August 25th. The bank reported $2.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.71 by $0.13. Bank Of Montreal had a net margin of 11.72% and a return on equity of 13.60%. The firm had revenue of $7.10 billion for the quarter, compared to analyst estimates of $6.94 billion. During the same quarter last year, the business earned $3.23 earnings per share. Bank Of Montreal's revenue was up 10.1% compared to the same quarter last year. On average, analysts anticipate that Bank Of Montreal will post 10.54 EPS for the current year.

Bank Of Montreal Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 26th. Stockholders of record on Friday, October 30th will be given a C$1.71 dividend. The ex-dividend date of this dividend is Friday, October 30th. This represents a $6.84 annualized dividend and a dividend yield of 3.9%. Bank Of Montreal's payout ratio is presently 54.18%.

Institutional Investors Weigh In On Bank Of Montreal

Institutional investors have recently made changes to their positions in the company. Entropy Technologies LP grew its stake in Bank Of Montreal by 169.5% during the 3rd quarter. Entropy Technologies LP now owns 41,978 shares of the bank's stock worth $7,021,000 after buying an additional 26,402 shares during the last quarter. FORA Capital LLC bought a new stake in Bank Of Montreal in the third quarter valued at $1,958,000. Pathstone Holdings LLC boosted its holdings in shares of Bank Of Montreal by 12.5% during the third quarter. Pathstone Holdings LLC now owns 14,696 shares of the bank's stock valued at $2,458,000 after acquiring an additional 1,630 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Bank Of Montreal by 68.5% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 7,034,902 shares of the bank's stock valued at $1,176,290,000 after acquiring an additional 2,860,477 shares during the period. Finally, Xcelsior Advisor Partners LLC acquired a new position in shares of Bank Of Montreal during the third quarter valued at $1,686,000. 45.82% of the stock is currently owned by institutional investors.

About Bank Of Montreal

Bank of Montreal, commonly known as BMO Financial Group, is a diversified financial services company serving individuals, businesses, and institutions. Its offerings include personal and commercial banking, such as deposit accounts, loans, mortgages, credit cards, and business banking services. BMO also provides wealth management and investment services, including financial advice, investment management, and private banking. Through its capital markets business, the company serves corporate, government, and institutional clients with services such as corporate banking, investment banking, and trading.

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