Bank of Montreal (NYSE:BMO) Receives $159.46 Average PT from Analysts

Bank of Montreal (NYSE:BMOGet Rating) (TSE:BMO) has received a consensus rating of “Buy” from the sixteen research firms that are currently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $159.46.

Several research firms recently issued reports on BMO. BMO Capital Markets upped their target price on Bank of Montreal from C$161.00 to C$163.00 in a research report on Thursday, March 31st. Royal Bank of Canada raised Bank of Montreal from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $154.00 to $160.00 in a research report on Tuesday, December 21st. Barclays upped their target price on Bank of Montreal from C$167.00 to C$171.00 and gave the company an “overweight” rating in a research report on Wednesday, March 2nd. Stifel Europe upped their target price on Bank of Montreal from C$170.00 to C$172.00 and gave the company a “buy” rating in a research report on Wednesday, March 2nd. Finally, StockNews.com began coverage on Bank of Montreal in a research report on Thursday, March 31st. They issued a “hold” rating on the stock.

Shares of BMO stock traded down $0.07 during trading hours on Friday, reaching $113.46. 13,937 shares of the company’s stock were exchanged, compared to its average volume of 888,764. The stock’s 50 day moving average is $116.52 and its 200-day moving average is $112.13. The company has a market cap of $76.18 billion, a price-to-earnings ratio of 10.96, a P/E/G ratio of 1.47 and a beta of 1.20. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.16. Bank of Montreal has a fifty-two week low of $88.98 and a fifty-two week high of $122.77.

Bank of Montreal (NYSE:BMOGet Rating) (TSE:BMO) last issued its quarterly earnings results on Tuesday, March 1st. The bank reported $3.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.60 by $0.47. Bank of Montreal had a return on equity of 17.71% and a net margin of 26.09%. The business had revenue of $7.64 billion for the quarter, compared to the consensus estimate of $6.67 billion. During the same period in the prior year, the firm posted $2.38 earnings per share. The business’s quarterly revenue was up 19.9% on a year-over-year basis. Equities analysts anticipate that Bank of Montreal will post 10.67 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 26th. Investors of record on Monday, May 2nd will be paid a $1.049 dividend. The ex-dividend date of this dividend is Friday, April 29th. This is a positive change from Bank of Montreal’s previous quarterly dividend of $1.04. This represents a $4.20 dividend on an annualized basis and a yield of 3.70%. Bank of Montreal’s dividend payout ratio (DPR) is currently 40.44%.

A number of institutional investors have recently modified their holdings of the stock. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new stake in Bank of Montreal in the 3rd quarter valued at about $25,000. Johnson Midwest Financial LLC acquired a new stake in Bank of Montreal in the 4th quarter valued at about $31,000. Glassman Wealth Services raised its holdings in Bank of Montreal by 56.3% in the 4th quarter. Glassman Wealth Services now owns 286 shares of the bank’s stock valued at $31,000 after acquiring an additional 103 shares during the last quarter. DeDora Capital Inc. acquired a new stake in shares of Bank of Montreal during the 1st quarter worth approximately $32,000. Finally, Stonehage Fleming Financial Services Holdings Ltd increased its holdings in shares of Bank of Montreal by 54.1% during the 4th quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 393 shares of the bank’s stock worth $42,000 after buying an additional 138 shares during the last quarter. 41.52% of the stock is currently owned by hedge funds and other institutional investors.

About Bank of Montreal (Get Rating)

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.

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