StockNews.com upgraded shares of Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO from a sell rating to a hold rating in a report published on Tuesday.
Several other equities research analysts have also weighed in on the company. Royal Bank of Canada upgraded Bank of Montreal from a "sector perform" rating to an "outperform" rating and boosted their target price for the stock from $133.00 to $161.00 in a report on Wednesday, January 8th. CIBC upgraded Bank of Montreal from a "neutral" rating to a "sector outperform" rating in a report on Friday, December 6th. Scotiabank upgraded Bank of Montreal from a "sector perform" rating to a "sector outperform" rating in a report on Friday, December 6th. Finally, Cibc World Mkts raised Bank of Montreal from a "hold" rating to a "strong-buy" rating in a research report on Friday, December 6th. Seven equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $128.00.
Read Our Latest Report on BMO
Bank of Montreal Trading Up 0.6 %
BMO traded up $0.61 during trading on Tuesday, reaching $101.08. The company had a trading volume of 392,733 shares, compared to its average volume of 554,264. The firm's 50-day simple moving average is $98.57 and its 200 day simple moving average is $92.55. The company has a market cap of $73.79 billion, a price-to-earnings ratio of 14.48, a PEG ratio of 1.40 and a beta of 1.09. Bank of Montreal has a 12-month low of $76.98 and a 12-month high of $104.63. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.98 and a current ratio of 0.98.
Bank of Montreal Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Thursday, January 30th will be given a dividend of $1.1329 per share. The ex-dividend date of this dividend is Thursday, January 30th. This is a boost from Bank of Montreal's previous quarterly dividend of $1.12. This represents a $4.53 dividend on an annualized basis and a dividend yield of 4.48%. Bank of Montreal's payout ratio is currently 63.32%.
Institutional Trading of Bank of Montreal
A number of institutional investors and hedge funds have recently modified their holdings of the company. Passumpsic Savings Bank increased its position in shares of Bank of Montreal by 2.1% during the third quarter. Passumpsic Savings Bank now owns 5,142 shares of the bank's stock valued at $464,000 after purchasing an additional 105 shares during the period. D.A. Davidson & CO. increased its position in shares of Bank of Montreal by 1.3% during the third quarter. D.A. Davidson & CO. now owns 8,602 shares of the bank's stock valued at $776,000 after purchasing an additional 113 shares during the period. Valeo Financial Advisors LLC boosted its stake in Bank of Montreal by 4.6% in the 4th quarter. Valeo Financial Advisors LLC now owns 2,865 shares of the bank's stock valued at $278,000 after buying an additional 125 shares in the last quarter. Wealthspire Advisors LLC boosted its stake in Bank of Montreal by 2.0% in the 4th quarter. Wealthspire Advisors LLC now owns 6,355 shares of the bank's stock valued at $617,000 after buying an additional 125 shares in the last quarter. Finally, Caprock Group LLC boosted its stake in Bank of Montreal by 4.6% in the 4th quarter. Caprock Group LLC now owns 3,185 shares of the bank's stock valued at $309,000 after buying an additional 139 shares in the last quarter. 45.82% of the stock is currently owned by institutional investors.
About Bank of Montreal
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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.
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