The stock last traded at $76.04 which is a tad above the 50 day moving average of $69.32 and just a bit higher than the 200 day moving average of $73.05. The 50 day moving average went up $6.72 or +9.69% whereas the 200 day moving average was up $2.99 or +4.10%. 636K shares changed hands on Thursday. Overall, volume was up 13.90% over the stocks normal daily volume.
These firms have also modified their investment in BMO. As of quarter end Mackenzie Financial Corp had acquired a total of 28,788 shares growing its holdings by 1.0%. The value in dollars went from $213,612,000 to $224,663,000 increasing 5.2% quarter over quarter. Mawer Investment Management Ltd. downsized its position by selling 6,435 shares a decrease of 0.2%. Mawer Investment Management Ltd. now holds 2,839,163 shares worth $211,764,000. The total value of its holdings increased 3.6%.
As of the end of the quarter Stonebridge Capital Advisors LLC had sold 300 shares trimming its stake by 8.9%. The value of the investment in BMO decreased from $242,000 to $229,000 a change of 5.4% since the last quarter. As of quarter end Proficio Capital Partners LLC had acquired 322 shares growing its position 117.9%. The value of the company’s investment in Bank Of Montreal increased from $20,000 to $41,000 a change of $21,000 for the reporting period.
On May 23 the stock rating was upgraded to “Buy” from “Equal-weight” by Barclays. On May 18 the company was changed to a “Buy” according to a Citigroup report a boost from the previous “Neutral” rating.
On December 7, 2016 the stock rating was set at “Buy” by Canaccord Genuity which was a boost from the previous “Hold” rating. On November 23 the company was upgraded from “Underperform” to “Neutral” in a statement from Credit Suisse.
Credit Suisse began coverage of BMO setting a rating of “Underperform”. On November 1, 2016 Bank of America initiated coverage on the stock with a rating of “Neutral”.
The company is now up from yesterday’s close of $74.62. Additionally the company announced a dividend to be paid on Monday the 28th of August 2017. The dividend will be $0.660 per share for the quarter or $2.64 on an annualized basis. The dividend yield will be $3.64. The ex-dividend date will be Thursday the 27th of April 2017.
The most current P/E ratio is 12.44 and market capitalization is 49.58B. As of the last earnings report the EPS was $6.11 and is projected to be $6.18 for the current year with 652,000,000 shares currently outstanding. Next quarter’s EPS is estimated at $1.55 with next year’s EPS projected to be $6.44.
Bank of Montreal (the Bank), launched on March 15, 1995, is a financial services provider. The Bank provides a range of personal and commercial banking, wealth management, and investment banking products and services. The Bank conducts its business through three operating groups: Personal and Commercial Banking (P&C), Wealth Management and BMO Capital Markets. BMO Financial Corp. (BFC) is owned by the Bank. BFC operates through its subsidiary BMO Harris Bank N.A. (BHB), which provides banking, financing, investing and cash management services in select markets in the United States Midwest. The Bank provides a range of investment dealer services through entities, including BMO Nesbitt Burns Inc., an integrated Canadian investment dealer and BMO Capital Markets Corp., which is a securities dealer in the United States..