Bank Of Montreal (NYSE:BMO) Receives $163.00 Consensus PT from Brokerages

Shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) have received a consensus rating of “Hold” from the thirteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $163.00.

A number of research firms have issued reports on BMO. Barclays reissued an “underweight” rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. Desjardins reiterated a “hold” rating on shares of Bank Of Montreal in a research note on Thursday, May 28th. Weiss Ratings raised Bank Of Montreal from a “buy (b)” rating to a “buy (b+)” rating in a report on Wednesday, July 8th. Zacks Research cut Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Finally, Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Bank Of Montreal in a report on Thursday, May 28th.

Hedge Funds Weigh In On Bank Of Montreal

A number of large investors have recently made changes to their positions in BMO. WFA of San Diego LLC bought a new stake in shares of Bank Of Montreal during the 2nd quarter valued at $28,000. Annis Gardner Whiting Capital Advisors LLC bought a new position in Bank Of Montreal in the 4th quarter worth about $29,000. Larson Financial Group LLC grew its holdings in Bank Of Montreal by 466.7% during 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 in the last quarter. Flagship Harbor Advisors LLC purchased a new position in Bank Of Montreal during the 4th quarter valued at about $34,000. Finally, Western Wealth Management LLC bought a new stake in shares of Bank Of Montreal during the first quarter valued at about $38,000. 45.82% of the stock is owned by institutional investors.

Bank Of Montreal Stock Up 0.1%

Bank Of Montreal stock opened at $182.19 on Monday. Bank Of Montreal has a twelve month low of $109.64 and a twelve month high of $184.21. The firm has a 50 day moving average price of $167.94 and a 200-day moving average price of $150.52. The company has a market capitalization of $127.61 billion, a P/E ratio of 19.34, a P/E/G ratio of 1.02 and a beta of 0.93. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.11.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings results on Wednesday, May 27th. The bank reported $2.68 EPS for the quarter, topping analysts’ consensus estimates of $2.54 by $0.14. Bank Of Montreal had a net margin of 12.60% and a return on equity of 13.04%. The company had revenue of $7.04 billion for the quarter, compared to analysts’ expectations of $6.98 billion. During the same quarter in the previous year, the firm posted $2.62 EPS. Bank Of Montreal’s revenue was up 10.2% on a year-over-year basis. As a group, equities analysts predict that Bank Of Montreal will post 11.82 EPS for the current year.

Bank Of Montreal Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Thursday, July 30th will be paid a $1.71 dividend. The ex-dividend date is Thursday, July 30th. This represents a $6.84 dividend on an annualized basis and a yield of 3.8%. This is a positive change from Bank Of Montreal’s previous quarterly dividend of $1.67. Bank Of Montreal’s dividend payout ratio (DPR) is presently 50.96%.

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.