Bank of Montreal (NYSE:BMO) Upgraded by Royal Bank of Canada to Outperform Rating

Royal Bank of Canada upgraded shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) from a sector perform rating to an outperform rating in a research note published on Wednesday, MarketBeat reports.

Other research analysts also recently issued reports about the stock. Cibc World Mkts upgraded shares of Bank of Montreal from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 6th. StockNews.com cut shares of Bank of Montreal from a “hold” rating to a “sell” rating in a research note on Tuesday, December 17th. CIBC raised shares of Bank of Montreal from a “neutral” rating to a “sector outperform” rating in a research note on Friday, December 6th. Finally, Scotiabank raised shares of Bank of Montreal from a “sector perform” rating to a “sector outperform” rating in a research note on Friday, December 6th. One analyst has rated the stock with a sell rating, six have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $122.40.

Bank of Montreal Stock Up 1.6 %

Shares of NYSE BMO opened at $98.43 on Wednesday. Bank of Montreal has a 12-month low of $76.98 and a 12-month high of $104.63. The company has a market capitalization of $71.82 billion, a PE ratio of 14.10, a price-to-earnings-growth ratio of 1.42 and a beta of 1.09. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.98 and a quick ratio of 0.98. The firm’s 50-day moving average is $95.84 and its two-hundred day moving average is $90.02.

Bank of Montreal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Thursday, January 30th will be issued a dividend of $1.1329 per share. This represents a $4.53 annualized dividend and a dividend yield of 4.60%. The ex-dividend date is Thursday, January 30th. This is an increase from Bank of Montreal’s previous quarterly dividend of $1.12. Bank of Montreal’s dividend payout ratio is 67.34%.

Institutional Investors Weigh In On Bank of Montreal

Several institutional investors have recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL acquired a new position in shares of Bank of Montreal in the 2nd quarter worth approximately $34,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Bank of Montreal in the third quarter valued at about $45,000. GHP Investment Advisors Inc. lifted its stake in shares of Bank of Montreal by 244.1% in the third quarter. GHP Investment Advisors Inc. now owns 554 shares of the bank’s stock valued at $50,000 after purchasing an additional 393 shares during the period. Blue Trust Inc. raised its position in Bank of Montreal by 207.8% during the third quarter. Blue Trust Inc. now owns 668 shares of the bank’s stock worth $56,000 after acquiring an additional 451 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its position in Bank of Montreal by 44.9% during the third quarter. Farther Finance Advisors LLC now owns 1,103 shares of the bank’s stock worth $99,000 after acquiring an additional 342 shares during the last quarter. 45.82% of the stock is currently owned by institutional investors and hedge funds.

About Bank of Montreal

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.