Bank of Montreal (TSE:BMO) Given Average Recommendation of “Hold” by Analysts

Shares of Bank of Montreal (TSE:BMO) (NYSE:BMO) have been assigned a consensus rating of “Hold” from the twelve research firms that are presently covering the company, reports. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is C$110.50.

BMO has been the topic of several research reports. Desjardins increased their target price on Bank of Montreal from C$108.00 to C$111.00 and gave the stock a “hold” rating in a research report on Tuesday, May 14th. Canaccord Genuity cut their target price on Bank of Montreal from C$113.00 to C$111.00 in a research report on Wednesday, May 15th. Citigroup cut their target price on Bank of Montreal from C$120.00 to C$115.00 in a research report on Thursday, June 27th. Barclays increased their target price on Bank of Montreal from C$106.00 to C$109.00 in a research report on Tuesday, June 11th. Finally, CSFB set a C$106.00 target price on Bank of Montreal and gave the stock an “underperform” rating in a research report on Thursday, May 16th.

TSE:BMO traded down C$0.75 during trading hours on Friday, reaching C$96.70. 1,820,100 shares of the company traded hands, compared to its average volume of 1,563,051. The firm’s 50-day simple moving average is C$99.55. The stock has a market capitalization of $61.77 billion and a PE ratio of 10.26. Bank of Montreal has a 1-year low of C$86.25 and a 1-year high of C$109.00.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last posted its quarterly earnings data on Wednesday, May 29th. The bank reported C$2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of C$2.28 by C$0.02. The business had revenue of C$6.21 billion for the quarter, compared to analyst estimates of C$5.72 billion. On average, sell-side analysts anticipate that Bank of Montreal will post 10.1099996 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 27th. Shareholders of record on Thursday, August 1st will be given a $1.03 dividend. The ex-dividend date of this dividend is Wednesday, July 31st. This is a positive change from Bank of Montreal’s previous quarterly dividend of $1.00. This represents a $4.12 annualized dividend and a yield of 4.26%. Bank of Montreal’s dividend payout ratio (DPR) is 41.58%.

In other Bank of Montreal news, Senior Officer Simon Adrian Fish sold 325 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of C$100.53, for a total value of C$32,672.25.

About Bank of Montreal

Bank of Montreal provides diversified financial services primarily in North America. It operates through three groups: Personal and Commercial Banking, Wealth Management, and BMO Capital Markets. The company's personal banking products and services include checking and savings accounts, credit cards, mortgages, and financial and investment advice services; and commercial banking products and services comprise business deposit accounts, commercial credit cards, business loans and commercial mortgages, cash management solutions, foreign exchange, and specialized banking programs for small business and commercial banking customers, as well as wealth management products and services, such as insurance products.

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Analyst Recommendations for Bank of Montreal (TSE:BMO)

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