Bank Of Montreal (NYSE:BMO) Receives Average Rating of “Hold” from Brokerages

Shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) have been given an average rating of “Hold” by the twelve ratings firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $163.00.

BMO has been the subject of several recent analyst reports. Scotiabank reaffirmed an “outperform” rating on shares of Bank Of Montreal in a research report on Wednesday, August 26th. Keefe, Bruyette & Woods started coverage on shares of Bank Of Montreal in a research note on Friday, August 21st. They set an “outperform” rating on the stock. Barclays restated an “underweight” rating on shares of Bank Of Montreal in a report on Friday, August 21st. TD Securities reiterated a “buy” rating on shares of Bank Of Montreal in a report on Wednesday, August 12th. Finally, Royal Bank Of Canada reissued a “sector perform” rating on shares of Bank Of Montreal in a research report on Thursday.

Bank Of Montreal Stock Down 0.9%

Shares of Bank Of Montreal stock opened at $170.39 on Tuesday. The stock’s 50-day moving average is $177.88 and its 200 day moving average is $159.69. Bank Of Montreal has a one year low of $118.66 and a one year high of $187.22. The firm has a market cap of $118.79 billion, a price-to-earnings ratio of 19.23, a PEG ratio of 1.02 and a beta of 0.94. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.01 and a quick ratio of 1.01.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last issued its earnings results on Tuesday, August 25th. The bank reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.71 by $0.13. Bank Of Montreal had a return on equity of 13.60% and a net margin of 11.72%.The business had revenue of $7.10 billion during the quarter, compared to the consensus estimate of $6.94 billion. During the same period in the previous year, the company posted $3.23 earnings per share. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. Equities research analysts anticipate that Bank Of Montreal will post 10.76 EPS for the current year.

Bank Of Montreal Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 26th. Investors of record on Friday, October 30th will be paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend is Friday, October 30th. Bank Of Montreal’s dividend payout ratio is 54.29%.

Institutional Investors Weigh In On Bank Of Montreal

Hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its holdings in Bank Of Montreal by 87.1% during the first quarter. AQR Capital Management LLC now owns 5,742 shares of the bank’s stock worth $548,000 after buying an additional 2,673 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of Bank Of Montreal during the second quarter valued at about $1,018,000. Cerity Partners LLC increased its position in shares of Bank Of Montreal by 1.4% during the second quarter. Cerity Partners LLC now owns 12,364 shares of the bank’s stock worth $1,368,000 after acquiring an additional 167 shares in the last quarter. Qube Research & Technologies Ltd raised its holdings in shares of Bank Of Montreal by 166.3% in the 2nd quarter. Qube Research & Technologies Ltd now owns 411,108 shares of the bank’s stock worth $45,518,000 after acquiring an additional 256,755 shares during the last quarter. Finally, NewEdge Advisors LLC raised its holdings in shares of Bank Of Montreal by 5,614.3% in the 2nd quarter. NewEdge Advisors LLC now owns 2,800 shares of the bank’s stock worth $310,000 after acquiring an additional 2,751 shares during the last quarter. Institutional investors and hedge funds own 45.82% of the company’s stock.

Bank Of Montreal Company Profile

Bank of Montreal (NYSE:BMO), commonly known as BMO Financial Group, is one of Canada’s largest and longest-established banks. Founded in Montreal and headquartered in Montreal, Quebec, the bank provides a broad range of financial services to retail, commercial, corporate and institutional clients. BMO is publicly listed in both Canada and the United States and operates under a consolidated financial services model that integrates banking, capital markets, wealth management and asset management activities.

BMO’s core businesses include personal and commercial banking—offering checking and savings accounts, lending, mortgages, and small-business services—alongside wealth management and private banking through its asset and investment management divisions.