Bank of Montreal (TSE:BMO) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Bank of Montreal (TSE:BMO) (NYSE:BMO) have been assigned an average rating of “Moderate Buy” from the eleven ratings firms that are currently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is C$132.42.

Several research firms have commented on BMO. CSFB set a C$128.00 price objective on Bank of Montreal and gave the company an “outperform” rating in a research note on Tuesday, September 12th. Bank of America lowered their target price on Bank of Montreal from C$125.00 to C$120.00 and set a “neutral” rating on the stock in a report on Wednesday, August 30th. BMO Capital Markets raised their price objective on Bank of Montreal from C$121.50 to C$130.50 in a report on Monday, July 24th. Royal Bank of Canada decreased their price objective on Bank of Montreal from C$138.00 to C$134.00 and set an “outperform” rating on the stock in a report on Monday, September 25th. Finally, Cormark reduced their target price on Bank of Montreal from C$132.00 to C$130.00 and set a “buy” rating on the stock in a report on Wednesday, August 30th.

Bank of Montreal Price Performance

Shares of TSE:BMO opened at C$111.05 on Friday. The firm has a market capitalization of C$79.59 billion, a PE ratio of 10.95, a price-to-earnings-growth ratio of 1.49 and a beta of 1.16. Bank of Montreal has a 1 year low of C$102.67 and a 1 year high of C$137.64. The firm’s 50-day moving average is C$111.08 and its two-hundred day moving average is C$115.50.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last posted its quarterly earnings results on Tuesday, August 29th. The bank reported C$2.78 earnings per share for the quarter, missing analysts’ consensus estimates of C$3.06 by C($0.28). Bank of Montreal had a net margin of 23.03% and a return on equity of 10.26%. The business had revenue of C$7.93 billion during the quarter. Analysts expect that Bank of Montreal will post 12.9651023 EPS for the current fiscal year.

Bank of Montreal Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 28th. Stockholders of record on Tuesday, November 28th will be given a dividend of $1.47 per share. The ex-dividend date is Friday, October 27th. This represents a $5.88 annualized dividend and a dividend yield of 5.29%. Bank of Montreal’s dividend payout ratio is presently 57.99%.

About Bank of Montreal

Bank of Montreal provides diversified financial services primarily in North America. The company's personal banking products and services include checking and savings accounts, credit cards, mortgages, and financial and investment advice services; and commercial banking products and services comprise business deposit accounts, commercial credit cards, business loans and commercial mortgages, cash management solutions, foreign exchange, specialized banking programs, treasury and payment solutions, and risk management products for small business and commercial banking customers.