UBS Group Begins Coverage on Bank of Montreal (NYSE:BMO)

UBS Group assumed coverage on shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) in a research report sent to investors on Tuesday, MarketBeat.com reports. The firm issued a neutral rating on the bank’s stock.

BMO has been the subject of a number of other reports. Desjardins lowered Bank of Montreal from a buy rating to a hold rating in a research report on Wednesday, May 29th. Barclays initiated coverage on Bank of Montreal in a research report on Wednesday, March 20th. They set an overweight rating on the stock. Finally, Keefe, Bruyette & Woods lowered shares of Bank of Montreal from an outperform rating to a market perform rating and decreased their price target for the company from $137.00 to $124.00 in a research note on Monday, June 3rd. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Bank of Montreal has a consensus rating of Moderate Buy and an average target price of $127.50.

Bank of Montreal Stock Performance

Shares of BMO stock opened at $84.31 on Tuesday. The firm has a 50 day moving average of $89.36 and a 200-day moving average of $92.92. The company has a market cap of $61.49 billion, a price-to-earnings ratio of 14.01, a price-to-earnings-growth ratio of 2.08 and a beta of 1.12. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.12. Bank of Montreal has a 52 week low of $73.98 and a 52 week high of $100.12.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last issued its earnings results on Wednesday, May 29th. The bank reported $1.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.01 by ($0.10). Bank of Montreal had a return on equity of 11.60% and a net margin of 8.25%. The company had revenue of $5.88 billion for the quarter, compared to the consensus estimate of $5.96 billion. On average, equities analysts forecast that Bank of Montreal will post 7.91 earnings per share for the current year.

Bank of Montreal Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 27th. Investors of record on Tuesday, July 30th will be issued a dividend of $1.125 per share. The ex-dividend date is Tuesday, July 30th. This represents a $4.50 annualized dividend and a yield of 5.34%. This is an increase from Bank of Montreal’s previous quarterly dividend of $1.12. Bank of Montreal’s dividend payout ratio is 74.25%.

Hedge Funds Weigh In On Bank of Montreal

Several large investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC raised its holdings 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 valued at $56,000 after purchasing an additional 160 shares during the last quarter. Pathway Financial Advisers LLC bought a new stake in Bank of Montreal in the 1st quarter worth about $105,000. Cetera Advisors LLC grew its position in Bank of Montreal by 171.3% in the 1st quarter. Cetera Advisors LLC now owns 6,261 shares of the bank’s stock worth $612,000 after purchasing an additional 3,953 shares in the last quarter. Cetera Investment Advisers increased its stake in Bank of Montreal by 454.8% in the 1st quarter. Cetera Investment Advisers now owns 17,171 shares of the bank’s stock valued at $1,677,000 after buying an additional 14,076 shares during the last quarter. Finally, Brown Shipley& Co Ltd bought a new stake in Bank of Montreal during the first quarter worth $160,000. 45.82% of the stock is currently owned by institutional investors.

Bank of Montreal Company Profile

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.