Published: Thu, August 31, 2017
Economy | By Melissa Porter

'Disappointing' results from Bank of Montreal's United States operations

'Disappointing' results from Bank of Montreal's United States operations

Scotiabank's revenue up about four per cent, rising to $6.89 billion. The stock has climbed 17 percent in the last 12 months. About shares traded. Bank of Montreal (USA) (NYSE:BMO) has risen 10.44% since August 29, 2016 and is uptrending. The fund owned 48,033 shares of the bank's stock after buying an additional 245 shares during the period. BB&T Investment Services Inc. acquired a new position in shares of Bank Of Montreal during the second quarter worth about $300,000. Taking a look at the performance of BMO, it is found that the weekly performance for this stock is valued at -1.36% and the performance for the month at -5.19%. Raymond James Financial Services Advisors Inc. increased its position in shares of Bank Of Montreal by 1.0% in the second quarter. Graybill Bartz & Assoc Ltd. now owns 31,285 shares of the bank's stock valued at $2,298,000 after buying an additional 255 shares during the last quarter. The stock has a 50-day moving average price of $74.90 and a 200 day moving average price of $73.32. The rating was maintained by RBC Capital Markets with "Sector Perform" on Wednesday, August 24. Investors of record on Wednesday, November 1st will be issued a $0.717 dividend. The company was downgraded on Tuesday, October 4 by Credit Suisse. Meanwhile, higher profits from Canadian banking and wealth management in the fiscal third quarter were offset by a 7.9% drop in its capital markets business. This represents a $2.87 dividend on an annualized basis and a yield of 3.99%.

Previously on 08/16/2017, Bank of Montreal reported about Bank Of Montreal (TSE:BMO) raised the target price from $98.00 to $99.00.

Bank Of Montreal announced that its Board of Directors has initiated a stock repurchase plan on Friday, June 23rd that authorizes the company to repurchase 4,000,000 outstanding shares. A reading over 70 would indicate that the stock is overbought, and possibly overvalued.

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A number of research analysts have recently commented on BMO shares. The stock of Bank of Montreal (USA) (NYSE:BMO) earned "Sector Perform" rating by Scotia Capital on Thursday, May 26. Finally, Barclays PLC raised Bank Of Montreal from an "underweight" rating to an "equal weight" rating in a research report on Tuesday, May 23rd. Royal Bank Of Canada dropped their target price on Bank Of Montreal to $108.00 and set a "sector perform" rating for the company in a research report on Thursday, May 25th. They noted that the move was a valuation call. The company has a consensus rating of "Hold" and an average target price of $94.20.

Still, shares of both banks fell along with other financial stocks as investors fretted about North Korea firing a missile over northern Japan.

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