Trading Report: Today, Bank Of Montreal (BMO) Downgraded by Credit Suisse Group AG

Today, Bank Of Montreal (BMO) Downgraded by Credit Suisse Group AG

Credit Suisse Group AG downgraded shares of Bank Of Montreal (NYSE:BMO) from a neutral rating to an underperform rating in a research report sent to investors on Tuesday.

Other equities research analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of Bank Of Montreal from a hold rating to a buy rating and set a $71.00 price target on the stock in a research note on Thursday, August 4th. Rafferty Capital Markets upgraded shares of Bank Of Montreal from a hold rating to a buy rating in a research note on Thursday, June 9th. Desjardins reiterated a hold rating and issued a $84.00 price target (up from $82.00) on shares of Bank Of Montreal in a research note on Thursday, August 4th. TD Securities restated a hold rating and set a $89.00 price objective (up from $86.00) on shares of Bank Of Montreal in a research note on Thursday, August 25th. Finally, Dundee Securities started coverage on shares of Bank Of Montreal in a research note on Wednesday, September 21st. They set a neutral rating on the stock. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Bank Of Montreal has a consensus rating of Hold and an average price target of $83.89.

Shares of Bank Of Montreal (NYSE:BMO) opened at 63.63 on Tuesday. The company has a 50 day moving average of $65.62 and a 200 day moving average of $63.95. Bank Of Montreal has a 1-year low of $47.54 and a 1-year high of $67.69. The company has a market cap of $41.04 billion, a PE ratio of 12.50 and a beta of 1.00.

Bank Of Montreal (NYSE:BMO) last issued its quarterly earnings results on Tuesday, August 23rd. The company reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.11. Bank Of Montreal had a net margin of 17.82% and a return on equity of 12.66%. The firm had revenue of $5.63 billion for the quarter, compared to analyst estimates of $3.88 billion. During the same period in the previous year, the business earned $1.86 EPS. The company’s revenue was up 16.7% compared to the same quarter last year. Equities analysts expect that Bank Of Montreal will post $5.50 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 28th. Shareholders of record on Tuesday, November 1st will be issued a $0.6696 dividend. The ex-dividend date is Friday, October 28th. This represents a $2.68 dividend on an annualized basis and a yield of 4.21%. This is an increase from Bank Of Montreal’s previous quarterly dividend of $0.66. Bank Of Montreal’s payout ratio is currently 52.47%.

A number of hedge funds have recently bought and sold shares of the stock. Bank of Montreal Can acquired a new stake in Bank Of Montreal during the second quarter worth about $980,506,000. Capital Research Global Investors increased its stake in Bank Of Montreal by 97.1% in the second quarter. Capital Research Global Investors now owns 12,729,160 shares of the company’s stock worth $807,426,000 after buying an additional 6,269,734 shares in the last quarter. Mackenzie Financial Corp acquired a new stake in Bank Of Montreal during the second quarter worth about $201,621,000. Emerald Acquisition Ltd. acquired a new stake in Bank Of Montreal during the second quarter worth about $121,542,000. Finally, Evercore Trust Company N.A. acquired a new stake in Bank Of Montreal during the second quarter worth about $94,607,000. 48.03% of the stock is owned by hedge funds and other institutional investors.

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