Today, Scotiabank Reiterates Sector Perform Rating for Bank Of Montreal (BMO)

Today, Scotiabank Reiterates Sector Perform Rating for Bank Of Montreal (BMO)

Bank Of Montreal (NYSE:BMO)‘s stock had its “sector perform” rating reaffirmed by equities research analysts at Scotiabank in a note issued to investors on Wednesday. They currently have a $86.00 price target on the stock, down from their prior price target of $89.00. Scotiabank’s target price points to a potential upside of 35.16% from the company’s previous close.

Other analysts have also recently issued reports about the company. TD Securities restated a “hold” rating and issued a $89.00 price target (up from $86.00) on shares of Bank Of Montreal in a research note on Thursday, August 25th. Dundee Securities restated a “neutral” rating and issued a $90.00 price target (down from $91.00) on shares of Bank Of Montreal in a research note on Wednesday. Desjardins restated 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. Rafferty Capital Markets upgraded Bank Of Montreal from a “hold” rating to a “buy” rating in a research note on Thursday, June 9th. Finally, CIBC restated a “sector perform” rating on shares of Bank Of Montreal in a research note on Thursday, August 25th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $83.89.

Shares of Bank Of Montreal (NYSE:BMO) opened at 63.63 on Wednesday. The stock has a market cap of $41.04 billion, a P/E ratio of 12.50 and a beta of 1.00. Bank Of Montreal has a 52 week low of $47.54 and a 52 week high of $67.69. The stock has a 50 day moving average price of $65.62 and a 200-day moving average price of $63.95.

Bank Of Montreal (NYSE:BMO) last posted its quarterly earnings results on Tuesday, August 23rd. The company reported $1.94 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.83 by $0.11. Bank Of Montreal had a return on equity of 12.66% and a net margin of 17.82%. The company had revenue of $5.63 billion for the quarter, compared to analysts’ expectations of $3.88 billion. During the same period last year, the firm earned $1.86 earnings per share. Bank Of Montreal’s quarterly revenue was up 16.7% on a year-over-year basis. Equities analysts predict that Bank Of Montreal will post $5.50 EPS 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. This represents a $2.68 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date of this dividend is Friday, October 28th. This is a positive change from Bank Of Montreal’s previous quarterly dividend of $0.66. Bank Of Montreal’s payout ratio is currently 52.47%.

A number of large investors have recently made changes to their positions in the stock. LifePlan Financial Group Inc raised its stake in shares of Bank Of Montreal by 1.8% in the third quarter. LifePlan Financial Group Inc now owns 3,488 shares of the company’s stock worth $229,000 after buying an additional 61 shares in the last quarter. Hillsdale Investment Management Inc. raised its stake in shares of Bank Of Montreal by 0.7% in the second quarter. Hillsdale Investment Management Inc. now owns 106,550 shares of the company’s stock worth $6,751,000 after buying an additional 695 shares in the last quarter. Stonebridge Capital Advisors LLC acquired a new stake in shares of Bank Of Montreal during the second quarter worth $200,000. Legal & General Group Plc raised its stake in shares of Bank Of Montreal by 2.3% in the second quarter. Legal & General Group Plc now owns 3,067,790 shares of the company’s stock worth $193,634,000 after buying an additional 69,811 shares in the last quarter. Finally, Numeric Investors LLC acquired a new stake in shares of Bank Of Montreal during the second quarter worth $5,521,000. 48.03% of the stock is currently owned by institutional investors.

Bank Of Montreal Company Profile

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