Analysts Set Bank of Montreal (NYSE:BMO) PT at $131.00

Shares of Bank of Montreal (NYSE:BMOGet Free Report) (TSE:BMO) have earned an average rating of “Moderate Buy” from the five research firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $131.00.

Several analysts have recently issued reports on the stock. Jefferies Financial Group began coverage on shares of Bank of Montreal in a research note on Thursday, February 22nd. They issued a “buy” rating for the company. StockNews.com raised shares of Bank of Montreal from a “sell” rating to a “hold” rating in a research report on Sunday, March 3rd. Barclays began coverage on Bank of Montreal in a report on Wednesday, March 20th. They issued an “overweight” rating for the company. Finally, Desjardins lowered Bank of Montreal from a “buy” rating to a “hold” rating in a report on Wednesday.

Get Our Latest Report on Bank of Montreal

Bank of Montreal Stock Performance

Shares of BMO opened at $89.16 on Wednesday. Bank of Montreal has a 12 month low of $73.98 and a 12 month high of $100.12. The stock has a market capitalization of $65.02 billion, a P/E ratio of 14.81, a price-to-earnings-growth ratio of 2.21 and a beta of 1.13. The firm’s fifty day simple moving average is $93.73 and its two-hundred day simple moving average is $92.64. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.12.

Bank of Montreal (NYSE:BMOGet Free Report) (TSE:BMO) last issued its quarterly earnings data on Tuesday, February 27th. The bank reported $1.90 EPS for the quarter, missing the consensus estimate of $2.24 by ($0.34). The company had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $6.34 billion. Bank of Montreal had a return on equity of 11.66% and a net margin of 8.25%. As a group, analysts predict that Bank of Montreal will post 8.21 EPS for the current year.

Bank of Montreal Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 27th. Shareholders of record on Tuesday, July 30th will be issued a dividend of $1.125 per share. This is a boost from Bank of Montreal’s previous quarterly dividend of $1.12. The ex-dividend date is Tuesday, July 30th. This represents a $4.50 dividend on an annualized basis and a yield of 5.05%. Bank of Montreal’s payout ratio is presently 74.25%.

Hedge Funds Weigh In On Bank of Montreal

Large investors have recently made changes to their positions in the stock. Pathway Financial Advisers LLC bought a new position in shares of Bank of Montreal in the first quarter valued at approximately $105,000. Cetera Advisors LLC increased its holdings in shares of Bank of Montreal by 171.3% in the first quarter. Cetera Advisors LLC now owns 6,261 shares of the bank’s stock worth $612,000 after purchasing an additional 3,953 shares during the period. Cetera Investment Advisers raised its position in shares of Bank of Montreal by 454.8% in the first quarter. Cetera Investment Advisers now owns 17,171 shares of the bank’s stock worth $1,677,000 after buying an additional 14,076 shares in the last quarter. Brown Shipley& Co Ltd bought a new stake in Bank of Montreal during the first quarter valued at $160,000. Finally, Bank of Nova Scotia Trust Co. grew its position in Bank of Montreal by 0.8% during the first quarter. Bank of Nova Scotia Trust Co. now owns 467,380 shares of the bank’s stock worth $45,654,000 after buying an additional 3,588 shares in the last quarter. 45.82% of the stock is owned by institutional investors.

Bank of Montreal Company Profile

(Get Free Report

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.

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Analyst Recommendations for Bank of Montreal (NYSE:BMO)

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