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

Bank Of Montreal (NYSE:BMO) (TSE:BMO) has earned an average recommendation of “Hold” from the eleven ratings firms that are currently covering the stock, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $163.00.

A number of brokerages recently commented on BMO. Raymond James Financial started coverage on Bank Of Montreal in a research report on Monday, November 24th. They set a “market perform” rating on the stock. Wall Street Zen downgraded Bank Of Montreal from a “hold” rating to a “sell” rating in a research note on Sunday, November 16th. Cibc World Mkts upgraded Bank Of Montreal from a “hold” rating to a “strong-buy” rating in a report on Friday, September 5th. Weiss Ratings reissued a “buy (b)” rating on shares of Bank Of Montreal in a report on Wednesday, October 8th. Finally, UBS Group restated a “neutral” rating on shares of Bank Of Montreal in a research report on Wednesday, August 27th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Ascent Group LLC grew its position in shares of Bank Of Montreal by 3.5% in the 2nd quarter. Ascent Group LLC now owns 2,756 shares of the bank’s stock valued at $305,000 after buying an additional 92 shares during the last quarter. Allworth Financial LP boosted its stake in Bank Of Montreal by 4.6% in the third quarter. Allworth Financial LP now owns 2,121 shares of the bank’s stock valued at $276,000 after acquiring an additional 94 shares in the last quarter. Choreo LLC grew its holdings in shares of Bank Of Montreal by 3.6% during the third quarter. Choreo LLC now owns 2,735 shares of the bank’s stock worth $356,000 after purchasing an additional 95 shares during the last quarter. Princeton Global Asset Management LLC increased its position in shares of Bank Of Montreal by 40.0% during the second quarter. Princeton Global Asset Management LLC now owns 350 shares of the bank’s stock worth $39,000 after purchasing an additional 100 shares in the last quarter. Finally, United Capital Financial Advisors LLC lifted its holdings in shares of Bank Of Montreal by 4.0% in the 3rd quarter. United Capital Financial Advisors LLC now owns 2,619 shares of the bank’s stock valued at $341,000 after purchasing an additional 101 shares during the last quarter. 45.82% of the stock is currently owned by hedge funds and other institutional investors.

Bank Of Montreal Stock Down 0.1%

Shares of NYSE BMO opened at $126.66 on Friday. The firm has a market cap of $90.14 billion, a price-to-earnings ratio of 15.50, a price-to-earnings-growth ratio of 0.84 and a beta of 0.95. The company’s 50-day simple moving average is $125.65 and its 200-day simple moving average is $118.11. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.11. Bank Of Montreal has a 52-week low of $85.40 and a 52-week high of $131.36.

Bank Of Montreal Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 26th. Stockholders of record on Friday, January 30th will be given a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 5.3%. The ex-dividend date of this dividend is Friday, January 30th. This is a boost from Bank Of Montreal’s previous quarterly dividend of $1.63. Bank Of Montreal’s dividend payout ratio is presently 57.28%.

Bank Of Montreal Company Profile

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.