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

Bank of Montreal (NYSE:BMO) (TSE:BMO) has received a consensus recommendation of “Hold” from the ten research firms that are currently covering the company, Marketbeat reports. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $119.75.

Several analysts have weighed in on BMO shares. Royal Bank of Canada downgraded Bank of Montreal from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, July 30th. StockNews.com lowered shares of Bank of Montreal from a “hold” rating to a “sell” rating in a research report on Thursday, August 29th. Scotiabank downgraded shares of Bank of Montreal from a “sector outperform” rating to a “sector perform” rating and dropped their price objective for the company from $123.00 to $112.00 in a report on Wednesday, August 28th. Barclays reduced their target price on shares of Bank of Montreal from $132.00 to $126.00 and set an “overweight” rating for the company in a report on Wednesday, August 28th. Finally, Jefferies Financial Group lowered shares of Bank of Montreal from a “buy” rating to a “hold” rating in a report on Tuesday, August 27th.

Bank of Montreal Trading Up 1.1 %

Bank of Montreal stock opened at $94.10 on Wednesday. Bank of Montreal has a one year low of $76.98 and a one year high of $100.12. The stock has a market cap of $68.65 billion, a PE ratio of 14.82, a price-to-earnings-growth ratio of 2.39 and a beta of 1.10. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a 50-day moving average of $91.30 and a two-hundred day moving average of $88.18.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last announced its quarterly earnings data on Tuesday, August 27th. The bank reported $2.64 EPS for the quarter, missing the consensus estimate of $2.76 by ($0.12). The company had revenue of $8.21 billion during the quarter, compared to analysts’ expectations of $8.25 billion. Bank of Montreal had a net margin of 8.50% and a return on equity of 11.23%. The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.08 earnings per share. On average, research analysts anticipate that Bank of Montreal will post 8 EPS for the current fiscal year.

Bank of Montreal Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Wednesday, October 30th will be given a dividend of $1.123 per share. The ex-dividend date of this dividend is Wednesday, October 30th. This represents a $4.49 annualized dividend and a yield of 4.77%. Bank of Montreal’s dividend payout ratio is presently 72.13%.

Institutional Investors Weigh In On Bank of Montreal

Several hedge funds have recently modified their holdings of the company. Strategic Investment Solutions Inc. IL acquired a new position in Bank of Montreal in the 2nd quarter worth about $34,000. Rothschild Investment LLC acquired a new position in shares of Bank of Montreal during the 2nd quarter worth approximately $40,000. GHP Investment Advisors Inc. lifted its position in shares of Bank of Montreal by 244.1% during the 3rd quarter. GHP Investment Advisors Inc. now owns 554 shares of the bank’s stock valued at $50,000 after buying an additional 393 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Bank of Montreal by 34.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 623 shares of the bank’s stock valued at $56,000 after acquiring an additional 160 shares during the period. Finally, Blue Trust Inc. increased its holdings in Bank of Montreal by 207.8% in the 3rd quarter. Blue Trust Inc. now owns 668 shares of the bank’s stock worth $56,000 after acquiring an additional 451 shares in the last quarter. 45.82% of the stock is owned by hedge funds and other institutional investors.

About Bank of Montreal

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.