Bank Of Montreal (NYSE:BMO) Receives $163.00 Consensus Price Target from Analysts

Shares of Bank Of Montreal (NYSE:BMOGet Free Report) (TSE:BMO) have been assigned an average rating of “Hold” from the thirteen analysts that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $163.00.

A number of brokerages have commented on BMO. Desjardins reissued a “hold” rating on shares of Bank Of Montreal in a research report on Thursday. Jefferies Financial Group reissued a “hold” rating on shares of Bank Of Montreal in a research report on Wednesday, February 25th. Scotiabank reissued a “sector perform” rating on shares of Bank Of Montreal in a research report on Monday, May 4th. National Bank Financial reissued a “sector perform” rating on shares of Bank Of Montreal in a research report on Wednesday, February 25th. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Bank Of Montreal in a research report on Thursday.

View Our Latest Analysis on BMO

Bank Of Montreal News Roundup

Here are the key news stories impacting Bank Of Montreal this week:

Bank Of Montreal Stock Performance

Shares of BMO opened at $162.03 on Friday. The stock has a 50-day simple moving average of $147.59 and a 200-day simple moving average of $139.01. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market capitalization of $113.56 billion, a PE ratio of 17.20, a PEG ratio of 0.92 and a beta of 0.94. Bank Of Montreal has a 1 year low of $104.08 and a 1 year high of $163.44.

Bank Of Montreal (NYSE:BMOGet Free Report) (TSE:BMO) last announced its quarterly earnings data on Wednesday, May 27th. The bank reported $2.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.54 by $0.14. The business had revenue of $7.04 billion during the quarter, compared to analysts’ expectations of $6.98 billion. Bank Of Montreal had a return on equity of 13.06% and a net margin of 12.60%.The business’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.62 EPS. On average, analysts predict that Bank Of Montreal will post 11.56 earnings per share for the current fiscal year.

Bank Of Montreal Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Thursday, July 30th will be given a $1.71 dividend. The ex-dividend date of this dividend is Thursday, July 30th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.2%. This is a boost from Bank Of Montreal’s previous quarterly dividend of $1.67. Bank Of Montreal’s payout ratio is currently 55.75%.

Institutional Investors Weigh In On Bank Of Montreal

Large investors have recently modified their holdings of the company. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Bank Of Montreal in the 4th quarter valued at $29,000. Larson Financial Group LLC grew its position in shares of Bank Of Montreal by 466.7% in the 3rd quarter. Larson Financial Group LLC now owns 238 shares of the bank’s stock valued at $31,000 after buying an additional 196 shares during the last quarter. WFA of San Diego LLC purchased a new position in shares of Bank Of Montreal in the 2nd quarter valued at $28,000. Flagship Harbor Advisors LLC purchased a new position in shares of Bank Of Montreal in the 4th quarter valued at $34,000. Finally, Western Wealth Management LLC purchased a new position in shares of Bank Of Montreal in the 1st quarter valued at $38,000. 45.82% of the stock is owned by hedge funds and other institutional investors.

About Bank Of Montreal

(Get Free Report)

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.

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Analyst Recommendations for Bank Of Montreal (NYSE:BMO)

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