Bank of Montreal (NYSE:BMO) Receives $129.50 Average PT from Brokerages

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

A number of equities analysts have issued reports on BMO shares. Barclays cut shares of Bank of Montreal from an “overweight” rating to an “equal weight” rating in a report on Monday. Cibc World Mkts cut shares of Bank of Montreal from a “strong-buy” rating to a “hold” rating in a report on Friday, April 4th. Royal Bank of Canada raised their target price on shares of Bank of Montreal from $161.00 to $163.00 and gave the stock an “outperform” rating in a report on Wednesday, February 26th. CIBC reissued a “neutral” rating on shares of Bank of Montreal in a report on Tuesday, May 20th. Finally, Scotiabank initiated coverage on Bank of Montreal in a report on Thursday, May 15th. They set a “sector perform” rating on the stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. North Star Asset Management Inc. increased its stake in shares of Bank of Montreal by 1.2% during the fourth quarter. North Star Asset Management Inc. now owns 8,422 shares of the bank’s stock valued at $817,000 after acquiring an additional 100 shares during the period. Oppenheimer & Co. Inc. increased its stake in shares of Bank of Montreal by 2.6% during the first quarter. Oppenheimer & Co. Inc. now owns 4,717 shares of the bank’s stock valued at $451,000 after acquiring an additional 120 shares during the period. Valeo Financial Advisors LLC increased its stake in shares of Bank of Montreal by 4.6% during the fourth quarter. Valeo Financial Advisors LLC now owns 2,865 shares of the bank’s stock valued at $278,000 after acquiring an additional 125 shares during the period. Wealthspire Advisors LLC increased its stake in shares of Bank of Montreal by 2.0% during the fourth quarter. Wealthspire Advisors LLC now owns 6,355 shares of the bank’s stock valued at $617,000 after acquiring an additional 125 shares during the period. Finally, Wealth Alliance LLC increased its stake in shares of Bank of Montreal by 1.8% during the first quarter. Wealth Alliance LLC now owns 8,146 shares of the bank’s stock valued at $778,000 after acquiring an additional 142 shares during the period. Institutional investors and hedge funds own 45.82% of the company’s stock.

Bank of Montreal Stock Up 0.6%

NYSE:BMO opened at $108.34 on Friday. The company has a market capitalization of $78.23 billion, a price-to-earnings ratio of 15.52, a price-to-earnings-growth ratio of 1.43 and a beta of 1.08. Bank of Montreal has a one year low of $76.98 and a one year high of $109.10. The stock has a 50-day simple moving average of $99.57 and a 200 day simple moving average of $98.69. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.98 and a current ratio of 0.98.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings results on Wednesday, May 28th. The bank reported $1.84 EPS for the quarter, hitting analysts’ consensus estimates of $1.84. Bank of Montreal had a return on equity of 10.18% and a net margin of 9.22%. The business had revenue of $6.32 billion during the quarter, compared to the consensus estimate of $8.79 billion. During the same period last year, the firm earned $2.59 earnings per share. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. Sell-side analysts predict 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 paid a dividend of $1.1801 per share. This represents a $4.72 dividend on an annualized basis and a dividend yield of 4.36%. The ex-dividend date of this dividend is Wednesday, July 30th. This is a positive change from Bank of Montreal’s previous quarterly dividend of $1.11. Bank of Montreal’s dividend payout ratio (DPR) is currently 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.