Bank of Montreal (TSE:BMO) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Bank of Montreal (TSE:BMO) (NYSE:BMO) have been assigned a consensus recommendation of “Moderate Buy” from the fourteen analysts that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is C$132.39.

BMO has been the subject of a number of research reports. TD Securities reduced their price objective on Bank of Montreal from C$140.00 to C$135.00 and set a “buy” rating for the company in a research report on Wednesday, February 28th. Royal Bank of Canada reduced their price target on Bank of Montreal from C$134.00 to C$130.00 and set an “outperform” rating for the company in a report on Wednesday, February 28th. CIBC lowered their price target on Bank of Montreal from C$125.00 to C$120.00 and set a “neutral” rating for the company in a research note on Friday, March 8th. Scotiabank cut their price objective on shares of Bank of Montreal from C$145.00 to C$141.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 28th. Finally, Canaccord Genuity Group reduced their target price on shares of Bank of Montreal from C$137.00 to C$136.00 and set a “buy” rating for the company in a research note on Wednesday, February 28th.

Bank of Montreal Stock Performance

BMO stock opened at C$125.93 on Wednesday. The firm has a 50 day simple moving average of C$127.73 and a 200 day simple moving average of C$121.44. Bank of Montreal has a 52 week low of C$102.67 and a 52 week high of C$133.95. The stock has a market cap of C$91.35 billion, a P/E ratio of 17.32, a P/E/G ratio of 0.54 and a beta of 1.18.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last issued its earnings results on Tuesday, February 27th. The bank reported C$2.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$3.03 by C($0.47). Bank of Montreal had a net margin of 17.71% and a return on equity of 7.28%. The company had revenue of C$7.67 billion for the quarter, compared to analyst estimates of C$8.57 billion. Sell-side analysts predict that Bank of Montreal will post 11.3809947 EPS for the current year.

Bank of Montreal Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Tuesday, May 28th will be issued a $1.51 dividend. The ex-dividend date of this dividend is Friday, April 26th. This represents a $6.04 annualized dividend and a yield of 4.80%. Bank of Montreal’s dividend payout ratio (DPR) is presently 83.08%.

Insiders Place Their Bets

In related news, Senior Officer Nadim Hirji sold 2,882 shares of the business’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of C$130.46, for a total transaction of C$375,985.72. In related news, Director Darrel Hackett sold 3,297 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of C$91.76, for a total transaction of C$302,532.72. Also, Senior Officer Nadim Hirji sold 2,882 shares of the stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of C$130.46, for a total transaction of C$375,985.72. Company insiders own 0.03% of the company’s stock.

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.