Analysts Set Bank of Montreal (NYSE:BMO) PT at $129.50

Bank of Montreal (NYSE:BMO) (TSE:BMO) has received an average recommendation of “Hold” from the nine brokerages that are presently covering the company, MarketBeat reports. Eight analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $129.50.

BMO has been the topic of a number of recent research reports. Cibc World Mkts lowered Bank of Montreal from a “strong-buy” rating to a “hold” rating in a report on Friday, April 4th. Royal Bank of Canada increased their target price on shares of Bank of Montreal from $161.00 to $163.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. Wall Street Zen raised shares of Bank of Montreal from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Scotiabank began coverage on shares of Bank of Montreal in a research report on Thursday, May 15th. They issued a “sector perform” rating for the company. Finally, CIBC reiterated a “neutral” rating on shares of Bank of Montreal in a research note on Tuesday, May 20th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cary Street Partners Investment Advisory LLC increased its stake in shares of Bank of Montreal by 228.9% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 273 shares of the bank’s stock worth $26,000 after purchasing an additional 190 shares during the last quarter. IFP Advisors Inc grew its holdings in Bank of Montreal by 179.5% during the fourth quarter. IFP Advisors Inc now owns 313 shares of the bank’s stock valued at $30,000 after purchasing an additional 201 shares during the period. Addison Advisors LLC increased its position in Bank of Montreal by 282.8% in the fourth quarter. Addison Advisors LLC now owns 333 shares of the bank’s stock worth $32,000 after buying an additional 246 shares during the last quarter. Bayforest Capital Ltd purchased a new stake in Bank of Montreal in the first quarter worth $34,000. Finally, Vision Financial Markets LLC bought a new stake in shares of Bank of Montreal in the fourth quarter valued at $39,000. 45.82% of the stock is currently owned by hedge funds and other institutional investors.

Bank of Montreal Stock Performance

BMO opened at $107.87 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.11. The company’s fifty day moving average price is $98.80 and its two-hundred day moving average price is $98.54. Bank of Montreal has a 1-year low of $76.98 and a 1-year high of $109.10. The company has a market cap of $77.89 billion, a price-to-earnings ratio of 15.45, a PEG ratio of 1.43 and a beta of 1.08.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last posted its earnings results on Wednesday, May 28th. The bank reported $1.84 EPS for the quarter, hitting the consensus estimate of $1.84. Bank of Montreal had a net margin of 9.22% and a return on equity of 10.18%. The company had revenue of $6.32 billion during the quarter, compared to the consensus estimate of $8.79 billion. During the same period in the previous year, the firm posted $2.59 earnings per share. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. On average, analysts expect that Bank of Montreal will post 7.71 EPS for the current fiscal year.

Bank of Montreal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Investors of record on Wednesday, July 30th will be issued a dividend of $1.1801 per share. This represents a $4.72 dividend on an annualized basis and a yield of 4.38%. The ex-dividend date is Wednesday, July 30th. This is an increase from Bank of Montreal’s previous quarterly dividend of $1.11. Bank of Montreal’s dividend payout ratio (DPR) is 61.48%.

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.