Bank Of Montreal (NYSE:BMO) Given Average Recommendation of “Hold” by Analysts

Bank Of Montreal (NYSE:BMO) (TSE:BMO) has been assigned an average recommendation of “Hold” from the eight ratings firms that are covering the company, MarketBeat reports. Seven research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $129.50.

Several analysts have commented on the stock. Cibc World Mkts cut shares of Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. Barclays lowered Bank Of Montreal from an “overweight” rating to an “equal weight” rating in a research report on Monday, June 9th. Scotiabank began coverage on Bank Of Montreal in a research note on Thursday, May 15th. They set a “sector perform” rating for the company. Finally, CIBC reaffirmed a “neutral” rating on shares of Bank Of Montreal in a research note on Tuesday, May 20th.

Bank Of Montreal Stock Performance

BMO opened at $112.10 on Thursday. The company has a 50 day simple moving average of $104.05 and a two-hundred day simple moving average of $99.65. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market cap of $80.74 billion, a P/E ratio of 14.54, a PEG ratio of 1.22 and a beta of 1.07. Bank Of Montreal has a 1-year low of $76.98 and a 1-year high of $112.15.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last announced its quarterly earnings data on Wednesday, May 28th. The bank reported $1.84 EPS for the quarter, meeting the consensus estimate of $1.84. Bank Of Montreal had a return on equity of 10.15% and a net margin of 10.25%. The business had revenue of $6.32 billion for the quarter, compared to the consensus estimate of $8.79 billion. During the same period in the previous year, the business earned $2.59 earnings per share. The business’s revenue was up 8.8% on a year-over-year basis. Equities analysts forecast that Bank Of Montreal will post 7.71 earnings per share for the current fiscal year.

Bank Of Montreal Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Wednesday, July 30th will be given a dividend of $1.1801 per share. This is a boost from Bank Of Montreal’s previous quarterly dividend of $1.11. The ex-dividend date is Wednesday, July 30th. This represents a $4.72 dividend on an annualized basis and a yield of 4.21%. Bank Of Montreal’s payout ratio is 57.33%.

Hedge Funds Weigh In On Bank Of Montreal

Hedge funds have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Bank Of Montreal during the fourth quarter valued at approximately $1,014,633,000. Goldman Sachs Group Inc. lifted its stake in shares of Bank Of Montreal by 213.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,259,505 shares of the bank’s stock worth $406,825,000 after acquiring an additional 2,899,061 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Bank Of Montreal by 42.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 6,838,171 shares of the bank’s stock valued at $664,742,000 after acquiring an additional 2,044,862 shares during the period. Mackenzie Financial Corp grew its position 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 valued at $1,184,636,000 after acquiring an additional 1,630,962 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in shares of Bank Of Montreal by 66.5% during the first 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 last quarter. 45.82% of the stock is currently owned by institutional investors.

Bank Of Montreal Company Profile

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.