Bank of Montreal (NYSE:BMO) (TSE:BMO) shares saw unusually-strong trading volume on Thursday . Approximately 18,626 shares changed hands during mid-day trading, a decline of 97% from the previous session’s volume of 720,969 shares.The stock last traded at $106.49 and had previously closed at $105.50.
A number of research analysts have commented on BMO shares. Zacks Investment Research cut Bank of Montreal from a “buy” rating to a “hold” rating in a research note on Tuesday, December 7th. Desjardins raised their price objective on Bank of Montreal from C$146.00 to C$150.00 and gave the stock a “buy” rating in a report on Tuesday, December 7th. TD Securities increased their target price on shares of Bank of Montreal from $150.00 to $155.00 and gave the stock a “buy” rating in a research note on Monday, December 6th. Canaccord Genuity raised their price objective on shares of Bank of Montreal from C$152.00 to C$160.00 and gave the company a “buy” rating in a research report on Monday, December 6th. Finally, Scotiabank downgraded shares of Bank of Montreal from a “sector outperform” rating to a “sector perform” rating in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $144.83.
The company’s 50 day moving average price is $108.72 and its 200 day moving average price is $104.13. The company has a market cap of $68.65 billion, a price-to-earnings ratio of 11.49, a price-to-earnings-growth ratio of 0.90 and a beta of 1.29. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.99 and a current ratio of 0.99.
Bank of Montreal (NYSE:BMO) (TSE:BMO) last issued its quarterly earnings results on Friday, December 3rd. The bank reported $2.60 earnings per share for the quarter, beating analysts’ consensus estimates of $2.52 by $0.08. The firm had revenue of $6.57 billion during the quarter, compared to the consensus estimate of $6.66 billion. Bank of Montreal had a net margin of 23.68% and a return on equity of 16.99%. The business’s revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.81 EPS. On average, equities research analysts forecast that Bank of Montreal will post 10.13 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, February 28th. Stockholders of record on Tuesday, February 1st will be paid a $1.041 dividend. This represents a $4.16 annualized dividend and a dividend yield of 3.93%. The ex-dividend date of this dividend is Monday, January 31st. This is a positive change from Bank of Montreal’s previous quarterly dividend of $0.85. Bank of Montreal’s dividend payout ratio (DPR) is 36.23%.
Institutional investors have recently added to or reduced their stakes in the stock. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new stake in shares of Bank of Montreal in the third quarter valued at approximately $25,000. Stonehage Fleming Financial Services Holdings Ltd bought a new stake in shares of Bank of Montreal in the second quarter valued at about $26,000. Barrett Asset Management LLC bought a new stake in shares of Bank of Montreal in the second quarter valued at about $51,000. Duncker Streett & Co. Inc. bought a new stake in Bank of Montreal during the third quarter worth about $52,000. Finally, Cullen Frost Bankers Inc. lifted its position in Bank of Montreal by 5,000.0% during the third quarter. Cullen Frost Bankers Inc. now owns 612 shares of the bank’s stock worth $61,000 after purchasing an additional 600 shares during the period. 41.13% of the stock is currently owned by institutional investors and hedge funds.
Bank of Montreal Company Profile (NYSE:BMO)
Bank of Montreal engages in the provision of banking and financial services to individuals and institutions. It operates through the following segments: Canadian Personal and Commercial Banking (Canadian P&C) and United States Personal and Commercial Banking (U.S. P&C). The Canadian P&C segment refers to retail banking and financial operations in Canada.
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