Bank of Montreal (NYSE:BMO - Get Free Report) TSE: BMO shares saw unusually-strong trading volume on Monday . Approximately 1,666,863 shares were traded during mid-day trading, an increase of 87% from the previous session's volume of 889,638 shares.The stock last traded at $93.36 and had previously closed at $92.77.
Wall Street Analysts Forecast Growth
Several research analysts have recently issued reports on BMO shares. Bank of America downgraded Bank of Montreal from a "buy" rating to a "neutral" rating and cut their price target for the stock from $134.00 to $117.00 in a research note on Wednesday, August 28th. Jefferies Financial Group lowered shares of Bank of Montreal from a "buy" rating to a "hold" rating in a research report on Tuesday, August 27th. Barclays cut their price objective on Bank of Montreal from $132.00 to $126.00 and set an "overweight" rating for the company in a research report on Wednesday, August 28th. UBS Group began coverage on Bank of Montreal in a report on Tuesday, July 2nd. They set a "neutral" rating on the stock. Finally, StockNews.com downgraded shares of Bank of Montreal from a "hold" rating to a "sell" rating in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $119.75.
Read Our Latest Stock Report on BMO
Bank of Montreal Stock Up 0.8 %
The stock has a fifty day moving average price of $88.49 and a 200-day moving average price of $88.06. The firm has a market cap of $68.22 billion, a PE ratio of 15.55, a PEG ratio of 2.47 and a beta of 1.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.98 and a current ratio of 0.98.
Bank of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last announced its earnings results on Tuesday, August 27th. The bank reported $2.64 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.76 by ($0.12). The business had revenue of $8.21 billion for the quarter, compared to analysts' expectations of $8.25 billion. Bank of Montreal had a return on equity of 11.23% and a net margin of 8.50%. The firm's revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.08 earnings per share. Research analysts expect that Bank of Montreal will post 8.06 EPS for the current year.
Bank of Montreal Cuts Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Wednesday, October 30th will be issued a $1.123 dividend. The ex-dividend date of this dividend is Wednesday, October 30th. This represents a $4.49 dividend on an annualized basis and a dividend yield of 4.80%. Bank of Montreal's dividend payout ratio (DPR) is 76.08%.
Institutional Trading of Bank of Montreal
A number of institutional investors and hedge funds have recently modified their holdings of BMO. Strategic Investment Solutions Inc. IL bought a new position in shares of Bank of Montreal during the second quarter worth about $34,000. Rothschild Investment LLC bought a new position in Bank of Montreal in the 2nd quarter worth approximately $40,000. GHP Investment Advisors Inc. raised its stake in Bank of Montreal by 244.1% during the 3rd quarter. GHP Investment Advisors Inc. now owns 554 shares of the bank's stock valued at $50,000 after acquiring an additional 393 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Bank of Montreal by 34.6% in the first quarter. EverSource Wealth Advisors LLC now owns 623 shares of the bank's stock worth $56,000 after purchasing an additional 160 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of Bank of Montreal by 207.8% during the third quarter. Blue Trust Inc. now owns 668 shares of the bank's stock valued at $56,000 after purchasing an additional 451 shares during the period. 45.82% of the stock is owned by institutional investors and hedge funds.
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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