Bank of Montreal (NYSE:BMO – Get Rating) (TSE:BMO) has been assigned an average recommendation of “Moderate Buy” from the thirteen research firms that are presently covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $159.75.
A number of research firms have commented on BMO. StockNews.com upgraded Bank of Montreal from a “sell” rating to a “hold” rating in a research note on Wednesday, December 7th. Bank Of America (Bofa) lowered Bank of Montreal from a “buy” rating to a “neutral” rating in a research note on Monday, December 12th. BMO Capital Markets lifted their price target on Bank of Montreal from C$148.00 to C$151.00 in a research note on Friday, December 2nd. Bank of America lowered Bank of Montreal from a “buy” rating to a “neutral” rating in a research note on Monday, December 12th. Finally, Credit Suisse Group began coverage on Bank of Montreal in a research note on Monday, December 19th. They issued an “outperform” rating on the stock.
Bank of Montreal Price Performance
Bank of Montreal stock opened at $97.95 on Friday. The stock’s fifty day moving average price is $94.53 and its two-hundred day moving average price is $94.67. Bank of Montreal has a one year low of $81.57 and a one year high of $122.77. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market cap of $68.88 billion, a PE ratio of 6.31, a price-to-earnings-growth ratio of 1.46 and a beta of 1.13.
Bank of Montreal Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 28th. Investors of record on Monday, January 30th will be issued a dividend of $1.0548 per share. This represents a $4.22 annualized dividend and a dividend yield of 4.31%. The ex-dividend date is Friday, January 27th. Bank of Montreal’s dividend payout ratio (DPR) is 26.27%.
Institutional Investors Weigh In On Bank of Montreal
Several hedge funds have recently modified their holdings of BMO. Cambridge Investment Research Advisors Inc. lifted its holdings in Bank of Montreal by 3.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 7,432 shares of the bank’s stock worth $877,000 after buying an additional 219 shares during the period. BlackRock Inc. lifted its holdings in Bank of Montreal by 5.5% during the 1st quarter. BlackRock Inc. now owns 426,005 shares of the bank’s stock worth $50,256,000 after buying an additional 22,030 shares during the period. Sequoia Financial Advisors LLC acquired a new position in Bank of Montreal during the 1st quarter worth about $225,000. Vanguard Group Inc. lifted its holdings in Bank of Montreal by 6.1% during the 1st quarter. Vanguard Group Inc. now owns 22,478,058 shares of the bank’s stock worth $2,651,736,000 after buying an additional 1,293,280 shares during the period. Finally, USS Investment Management Ltd lifted its holdings in Bank of Montreal by 2.1% during the 1st quarter. USS Investment Management Ltd now owns 145,939 shares of the bank’s stock worth $17,199,000 after buying an additional 3,071 shares during the period. Institutional investors and hedge funds own 42.78% of the company’s stock.
About Bank of Montreal
Bank of Montreal engages in the provision of diversified financial services primarily in North America. The company’s personal banking products and services include checking and savings accounts, credit cards, mortgages, personal loans, small business lending, cash management, and financial and investment advice services; and commercial banking products and services comprise business deposit accounts, commercial credit cards, business loans and commercial mortgages, cash management solutions, foreign exchange, specialized banking programs, treasury and payment solutions, and risk management products for small business and commercial banking customers.
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