Bank Of Montreal (BMO) Stock Rating Upgraded by BidaskClub

BidaskClub upgraded shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) from a hold rating to a buy rating in a research report report published on Tuesday, July 4th.

A number of other analysts have also recently commented on the company. Zacks Investment Research upgraded Bank Of Montreal from a sell rating to a hold rating in a research report on Tuesday, June 20th. TD Securities raised Bank Of Montreal from a hold rating to a buy rating in a research note on Thursday, June 1st. They noted that the move was a valuation call. Royal Bank Of Canada reduced their price objective on Bank Of Montreal to $108.00 and set a sector perform rating on the stock in a research note on Thursday, May 25th. Barclays PLC raised Bank Of Montreal from an underweight rating to an equal weight rating in a research note on Tuesday, May 23rd. Finally, Citigroup Inc. raised Bank Of Montreal from a neutral rating to a buy rating in a research report on Thursday, May 18th. Ten research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $88.38.

Shares of Bank Of Montreal (NYSE:BMO) traded up 0.62% during mid-day trading on Tuesday, hitting $76.61. 325,186 shares of the stock were exchanged. The stock’s 50-day moving average price is $69.32 and its 200-day moving average price is $73.05. Bank Of Montreal has a 52-week low of $62.32 and a 52-week high of $78.00. The company has a market cap of $49.95 billion, a P/E ratio of 12.53 and a beta of 1.01.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released its earnings results on Wednesday, May 24th. The bank reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.40 by $0.05. Bank Of Montreal had a return on equity of 14.25% and a net margin of 19.60%. The company had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.26 billion. During the same quarter last year, the company earned $1.73 earnings per share. Bank Of Montreal’s quarterly revenue was up 12.5% compared to the same quarter last year. Equities research analysts anticipate that Bank Of Montreal will post $6.27 earnings per share for the current fiscal year.

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The business also recently announced a quarterly dividend, which will be paid on Monday, August 28th. Stockholders of record on Tuesday, August 1st will be given a dividend of $0.6616 per share. This represents a $2.65 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date of this dividend is Friday, July 28th. Bank Of Montreal’s dividend payout ratio (DPR) is presently 43.85%.

A number of hedge funds and other institutional investors have recently bought and sold shares of BMO. CGOV Asset Management raised its position in Bank Of Montreal by 13.1% in the first quarter. CGOV Asset Management now owns 8,627 shares of the bank’s stock valued at $857,000 after buying an additional 1,000 shares during the last quarter. UBS Asset Management Americas Inc. raised its position in shares of Bank Of Montreal by 8.7% in the fourth quarter. UBS Asset Management Americas Inc. now owns 1,665,146 shares of the bank’s stock valued at $119,910,000 after buying an additional 133,964 shares during the last quarter. North Star Investment Management Corp. raised its position in shares of Bank Of Montreal by 69.2% in the first quarter. North Star Investment Management Corp. now owns 6,724 shares of the bank’s stock valued at $503,000 after buying an additional 2,749 shares during the last quarter. Bank of Nova Scotia raised its position in shares of Bank Of Montreal by 3.1% in the first quarter. Bank of Nova Scotia now owns 16,561,393 shares of the bank’s stock valued at $1,237,062,000 after buying an additional 490,813 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of Bank Of Montreal by 7.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,104,379 shares of the bank’s stock valued at $82,597,000 after buying an additional 78,192 shares during the last quarter. 47.66% of the stock is currently owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Bank Of Montreal (NYSE:BMO)

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