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

Shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) have been given an average recommendation of “Hold” by the thirteen brokerages that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $163.00.

Several analysts recently commented on BMO shares. Weiss Ratings lowered Bank Of Montreal from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, June 12th. Barclays reaffirmed an “underweight” rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Zacks Research lowered Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Finally, National Bank Financial reissued a “sector perform” rating on shares of Bank Of Montreal in a report on Wednesday, February 25th.

Bank Of Montreal Stock Performance

Shares of BMO opened at $172.38 on Thursday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.02. Bank Of Montreal has a one year low of $106.20 and a one year high of $174.10. The firm has a market capitalization of $120.73 billion, a P/E ratio of 18.30, a PEG ratio of 0.97 and a beta of 0.95. The business has a fifty day moving average of $159.00 and a 200 day moving average of $144.79.

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

Bank Of Montreal Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Thursday, July 30th will be issued a dividend of $1.71 per share. This is a boost from Bank Of Montreal’s previous quarterly dividend of $1.67. This represents a $6.84 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Thursday, July 30th. Bank Of Montreal’s dividend payout ratio is presently 50.96%.

Institutional Trading of Bank Of Montreal

Several hedge funds have recently bought and sold shares of the stock. Ballast Advisors LLC bought a new stake in Bank Of Montreal during the first quarter valued at about $88,000. Rathbones Group PLC grew its holdings in Bank Of Montreal by 1.9% during the first quarter. Rathbones Group PLC now owns 42,154 shares of the bank’s stock valued at $5,692,000 after purchasing an additional 770 shares during the period. Parallel Advisors LLC grew its holdings in Bank Of Montreal by 5.5% during the first quarter. Parallel Advisors LLC now owns 2,912 shares of the bank’s stock valued at $394,000 after purchasing an additional 153 shares during the period. Krane Financial Solutions LLC bought a new stake in Bank Of Montreal during the first quarter valued at about $235,000. Finally, Glenmede Trust Co. NA lifted its position in shares of Bank Of Montreal by 3.7% in the first quarter. Glenmede Trust Co. NA now owns 6,810 shares of the bank’s stock valued at $922,000 after acquiring an additional 245 shares in the last quarter. Institutional investors 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.