Brokerages Set Bank Of Montreal (NYSE:BMO) Target Price at $163.00

Shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) have been given a consensus recommendation of “Hold” by the twelve brokerages that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $163.00.

A number of analysts recently weighed in on the stock. Canadian Imperial Bank of Commerce downgraded shares of Bank Of Montreal from a “sector outperform” rating to a “neutral” rating in a research report on Tuesday, August 18th. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Bank Of Montreal in a research note on Thursday, August 27th. Desjardins reiterated a “hold” rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Weiss Ratings cut shares of Bank Of Montreal from a “buy (b+)” rating to a “buy (b)” rating in a research report on Thursday, July 23rd. Finally, TD Securities restated a “buy” rating on shares of Bank Of Montreal in a research report on Wednesday, August 12th.

Bank Of Montreal Stock Up 0.0%

Shares of Bank Of Montreal stock opened at $175.45 on Tuesday. The business has a fifty day simple moving average of $177.82 and a 200 day simple moving average of $160.83. The stock has a market cap of $121.95 billion, a PE ratio of 19.80, a price-to-earnings-growth ratio of 1.04 and a beta of 0.93. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.10. Bank Of Montreal has a 12 month low of $119.84 and a 12 month high of $187.22.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last issued its earnings results on Tuesday, August 25th. The bank reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.71 by $0.13. The firm had revenue of $7.10 billion for the quarter, compared to analysts’ expectations of $6.94 billion. Bank Of Montreal had a return on equity of 13.60% and a net margin of 11.72%.The company’s revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the business earned $3.23 earnings per share. Research analysts predict that Bank Of Montreal will post 10.76 EPS for the current year.

Bank Of Montreal Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 26th. Shareholders of record on Friday, October 30th will be paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Friday, October 30th. Bank Of Montreal’s payout ratio is presently 54.29%.

Institutional Investors Weigh In On Bank Of Montreal

A number of hedge funds have recently modified their holdings of the business. Edmond DE Rothschild Holding S.A. bought a new stake in Bank Of Montreal during the 2nd quarter worth approximately $28,000. WFA of San Diego LLC acquired a new position in shares of Bank Of Montreal in the second quarter valued at approximately $28,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Bank Of Montreal in the fourth quarter valued at approximately $29,000. Larson Financial Group LLC increased its position in shares of Bank Of Montreal by 466.7% during the third quarter. Larson Financial Group LLC now owns 238 shares of the bank’s stock worth $31,000 after acquiring an additional 196 shares in the last quarter. Finally, Western Wealth Management LLC bought a new stake in shares of Bank Of Montreal during the first quarter worth $38,000. Institutional investors and hedge funds own 45.82% of the company’s stock.

About Bank Of Montreal

Bank of Montreal (NYSE:BMO), commonly known as BMO Financial Group, is one of Canada’s largest and longest-established banks. Founded in Montreal and headquartered in Montreal, Quebec, the bank provides a broad range of financial services to retail, commercial, corporate and institutional clients. BMO is publicly listed in both Canada and the United States and operates under a consolidated financial services model that integrates banking, capital markets, wealth management and asset management activities.

BMO’s core businesses include personal and commercial banking—offering checking and savings accounts, lending, mortgages, and small-business services—alongside wealth management and private banking through its asset and investment management divisions.