Bank Of Montreal (NYSE:BMO) Upgraded at Zacks Research

Zacks Research upgraded shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) from a hold rating to a strong-buy rating in a research note released on Thursday morning,Zacks.com reports.

Several other research analysts have also weighed in on BMO. Raymond James Financial upgraded Bank Of Montreal from a “market perform” rating to an “outperform” rating in a research report on Friday, February 13th. National Bank Financial cut shares of Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a report on Monday, December 1st. Scotiabank restated a “sector perform” rating on shares of Bank Of Montreal in a report on Friday, January 9th. Weiss Ratings reissued a “buy (b-)” rating on shares of Bank Of Montreal in a research report on Monday, December 29th. Finally, Wall Street Zen raised Bank Of Montreal from a “sell” rating to a “hold” rating in a research report on Sunday, February 8th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $163.00.

Bank Of Montreal Trading Up 1.7%

Shares of BMO opened at $145.97 on Thursday. The firm’s fifty day moving average is $135.95 and its two-hundred day moving average is $128.22. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.11. The stock has a market cap of $103.09 billion, a PE ratio of 17.89, a price-to-earnings-growth ratio of 1.02 and a beta of 0.94. Bank Of Montreal has a 52-week low of $85.40 and a 52-week high of $146.35.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last announced its quarterly earnings data on Thursday, December 4th. The bank reported $2.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.20. The company had revenue of $6.67 billion during the quarter, compared to analysts’ expectations of $6.51 billion. Bank Of Montreal had a net margin of 11.13% and a return on equity of 11.76%. Bank Of Montreal’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.90 EPS. Research analysts forecast that Bank Of Montreal will post 7.71 earnings per share for the current fiscal year.

Bank Of Montreal Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 26th. Investors of record on Friday, January 30th will be issued a dividend of $1.67 per share. This is a boost from Bank Of Montreal’s previous quarterly dividend of $1.63. This represents a $6.68 annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend is Friday, January 30th. Bank Of Montreal’s dividend payout ratio is 59.68%.

Institutional Investors Weigh In On Bank Of Montreal

A number of institutional investors have recently added to or reduced their stakes in the business. True Wealth Design LLC purchased a new stake in shares of Bank Of Montreal during the 3rd quarter worth $28,000. WFA of San Diego LLC purchased a new stake in Bank Of Montreal in the 2nd quarter worth approximately $28,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Bank Of Montreal in the fourth quarter valued at $29,000. Larson Financial Group LLC increased its stake in shares of Bank Of Montreal by 466.7% during the 3rd quarter. Larson Financial Group LLC now owns 238 shares of the bank’s stock valued at $31,000 after acquiring an additional 196 shares during the last quarter. Finally, Flagship Harbor Advisors LLC acquired a new position in Bank Of Montreal during the fourth quarter worth approximately $34,000. Hedge funds and other institutional investors 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.