Bank of Montreal (TSE:BMO) Given Average Rating of “Moderate Buy” by Brokerages

Bank of Montreal (TSE:BMO) (NYSE:BMO) has earned an average recommendation of “Moderate Buy” from the fourteen brokerages that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is C$132.39.

A number of equities analysts have issued reports on the company. Jefferies Financial Group cut their target price on Bank of Montreal from C$144.00 to C$136.00 and set a “buy” rating on the stock in a research report on Wednesday, February 28th. Canaccord Genuity Group cut their target price on Bank of Montreal from C$137.00 to C$136.00 and set a “buy” rating on the stock in a research report on Wednesday, February 28th. National Bankshares cut their target price on Bank of Montreal from C$141.00 to C$137.00 in a research report on Wednesday, February 28th. TD Securities dropped their price target on Bank of Montreal from C$140.00 to C$135.00 and set a “buy” rating on the stock in a research report on Wednesday, February 28th. Finally, CIBC reduced their price objective on Bank of Montreal from C$125.00 to C$120.00 and set a “neutral” rating on the stock in a research note on Friday, March 8th.

Insider Activity at Bank of Montreal

In related news, Director Darrel Hackett sold 3,297 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of C$91.76, for a total value of C$302,532.72. In other Bank of Montreal news, Director Darrel Hackett sold 3,297 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of C$91.76, for a total value of C$302,532.72. Also, Senior Officer Nadim Hirji sold 2,882 shares of the business’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of C$130.46, for a total value of C$375,985.72. 0.03% of the stock is owned by insiders.

Bank of Montreal Stock Performance

Shares of TSE:BMO opened at C$128.15 on Wednesday. Bank of Montreal has a 1 year low of C$102.67 and a 1 year high of C$133.95. The stock has a market capitalization of C$92.97 billion, a P/E ratio of 17.63, a PEG ratio of 0.54 and a beta of 1.18. The stock has a 50-day simple moving average of C$127.64 and a 200-day simple moving average of C$121.27.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last released its quarterly earnings results on Tuesday, February 27th. The bank reported C$2.56 earnings per share for the quarter, missing analysts’ consensus estimates of C$3.03 by C($0.47). The company had revenue of C$7.67 billion during the quarter, compared to analysts’ expectations of C$8.57 billion. Bank of Montreal had a return on equity of 7.28% and a net margin of 17.71%. Analysts predict that Bank of Montreal will post 11.3809947 earnings per share for the current year.

Bank of Montreal Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Monday, April 29th will be given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 4.71%. The ex-dividend date is Friday, April 26th. Bank of Montreal’s dividend payout ratio is presently 83.08%.

About Bank of Montreal

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.