Bank of Montreal (BMO) – Research Analysts’ Weekly Ratings Changes

A number of firms have modified their ratings and price targets on shares of Bank of Montreal (NYSE: BMO) recently:

• 12/9/2024 – Bank of Montreal was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 12/6/2024 – Bank of Montreal was upgraded by analysts at Cibc World Mkts from a “hold” rating to a “strong-buy” rating.
• 12/6/2024 – Bank of Montreal had its “sector perform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $133.00 price target on the stock, up previously from $106.00.
• 12/6/2024 – Bank of Montreal was upgraded by analysts at CIBC from a “neutral” rating to a “sector outperform” rating.
• 12/6/2024 – Bank of Montreal was upgraded by analysts at Scotiabank from a “sector perform” rating to a “sector outperform” rating.

Bank of Montreal Trading Down 1.4 %

Shares of BMO stock opened at $99.30 on Friday. Bank of Montreal has a fifty-two week low of $76.98 and a fifty-two week 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. The stock’s fifty day moving average is $93.93 and its two-hundred day moving average is $88.53. The firm has a market capitalization of $72.45 billion, a P/E ratio of 14.23, a PEG ratio of 2.88 and a beta of 1.10.

Bank of Montreal Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Thursday, January 30th will be given a dividend of $1.1329 per share. The ex-dividend date is Thursday, January 30th. This is a positive change from Bank of Montreal’s previous quarterly dividend of $1.12. This represents a $4.53 dividend on an annualized basis and a yield of 4.56%. Bank of Montreal’s payout ratio is presently 67.34%.

Institutional Investors Weigh In On Bank of Montreal

Large investors have recently made changes to their positions in the stock. Pathway Financial Advisers LLC grew its holdings in Bank of Montreal by 2,701.7% in the 3rd quarter. Pathway Financial Advisers LLC now owns 30,454 shares of the bank’s stock valued at $2,747,000 after buying an additional 29,367 shares in the last quarter. Newport Trust Company LLC grew its holdings in shares of Bank of Montreal by 1.1% in the second quarter. Newport Trust Company LLC now owns 1,411,695 shares of the bank’s stock valued at $118,371,000 after purchasing an additional 14,809 shares during the period. Intact Investment Management Inc. grew its holdings in shares of Bank of Montreal by 72.9% in the third quarter. Intact Investment Management Inc. now owns 588,209 shares of the bank’s stock valued at $53,082,000 after purchasing an additional 248,098 shares during the period. Fiera Capital Corp increased its position in Bank of Montreal by 2.1% during the second quarter. Fiera Capital Corp now owns 3,403,431 shares of the bank’s stock worth $285,789,000 after purchasing an additional 69,111 shares during the last quarter. Finally, Cardinal Capital Management Inc. raised its stake in Bank of Montreal by 4.9% during the third quarter. Cardinal Capital Management Inc. now owns 1,298,627 shares of the bank’s stock worth $117,326,000 after purchasing an additional 60,155 shares during the period. 45.82% of the stock is currently owned by hedge funds and other institutional investors.

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.