Bank of Montreal (BMO) Raised to “Outperform” at Macquarie

Macquarie upgraded shares of Bank of Montreal (TSE:BMO) (NYSE:BMO) from a neutral rating to an outperform rating in a research report released on Thursday. The brokerage currently has C$107.00 price target on the bank’s stock, up from their previous price target of C$105.00.

A number of other equities research analysts have also recently weighed in on the company. Citigroup upped their price objective on Bank of Montreal from C$112.00 to C$116.00 in a research note on Monday, December 18th. Eight Capital upped their price objective on Bank of Montreal from C$101.00 to C$106.00 in a research note on Wednesday, December 6th. CIBC upped their price objective on Bank of Montreal from C$100.00 to C$107.00 in a research note on Monday, November 13th. National Bank Financial upped their price objective on Bank of Montreal from C$103.00 to C$106.00 and gave the stock a sector perform rating in a research note on Friday, January 12th. Finally, Royal Bank of Canada upped their price objective on Bank of Montreal from C$108.00 to C$116.00 and gave the stock a sector perform rating in a research note on Wednesday, December 6th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of Hold and an average price target of C$106.54.

Bank of Montreal (TSE BMO) opened at C$97.61 on Thursday. The company has a market capitalization of $63,270.00, a price-to-earnings ratio of 12.32 and a beta of 0.67. Bank of Montreal has a 12-month low of C$88.63 and a 12-month high of C$105.55.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last issued its earnings results on Tuesday, December 5th. The bank reported C$1.94 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of C$1.99 by C($0.05). Bank of Montreal had a return on equity of 12.00% and a net margin of 21.70%. The firm had revenue of C$5.66 billion during the quarter, compared to analysts’ expectations of C$5.31 billion.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 27th. Investors of record on Thursday, February 1st will be given a dividend of $0.93 per share. This is a positive change from Bank of Montreal’s previous quarterly dividend of $0.90. This represents a $3.72 annualized dividend and a yield of 3.81%. The ex-dividend date is Wednesday, January 31st. Bank of Montreal’s dividend payout ratio is currently 44.95%.

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About Bank of Montreal

Bank of Montreal (the Bank) is a financial services provider. The Bank provides a range of personal and commercial banking, wealth management and investment banking products and services. The Bank conducts its business through three operating groups: Personal and Commercial Banking (P&C), Wealth Management and BMO Capital Markets.

Analyst Recommendations for Bank of Montreal (TSE:BMO)

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Bank of Montreal (BMO) Raised to “Outperform” at Macquarie

Macquarie upgraded shares of Bank of Montreal (TSE:BMO) (NYSE:BMO) from a neutral rating to an outperform rating in a research report report published on Thursday. The brokerage currently has C$107.00 price target on the bank’s stock, up from their prior price target of C$105.00.

A number of other brokerages have also weighed in on BMO. Canaccord Genuity cut their price objective on Bank of Montreal from C$103.00 to C$99.00 in a report on Wednesday, November 1st. CIBC increased their price objective on Bank of Montreal from C$100.00 to C$107.00 in a report on Monday, November 13th. Barclays increased their price objective on Bank of Montreal from C$97.00 to C$98.00 in a report on Wednesday, December 6th. CSFB increased their price objective on Bank of Montreal from C$102.00 to C$103.00 in a report on Wednesday, December 6th. Finally, Eight Capital increased their price objective on Bank of Montreal from C$101.00 to C$106.00 in a report on Wednesday, December 6th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Bank of Montreal presently has a consensus rating of Hold and an average price target of C$106.54.

Bank of Montreal (TSE:BMO) opened at C$97.61 on Thursday. Bank of Montreal has a 1 year low of C$88.63 and a 1 year high of C$105.55. The stock has a market capitalization of $63,270.00, a PE ratio of 12.32 and a beta of 0.67.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last announced its earnings results on Tuesday, December 5th. The bank reported C$1.94 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of C$1.99 by C($0.05). Bank of Montreal had a net margin of 21.70% and a return on equity of 12.00%. The business had revenue of C$5.66 billion for the quarter, compared to analyst estimates of C$5.31 billion.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 27th. Stockholders of record on Thursday, February 1st will be issued a $0.93 dividend. The ex-dividend date is Wednesday, January 31st. This is a positive change from Bank of Montreal’s previous quarterly dividend of $0.90. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.81%. Bank of Montreal’s dividend payout ratio is currently 44.95%.

WARNING: This news story was originally posted by The Lincolnian Online and is owned by of The Lincolnian Online. If you are accessing this news story on another publication, it was illegally copied and republished in violation of international copyright & trademark law. The legal version of this news story can be read at https://www.thelincolnianonline.com/2018/02/19/bank-of-montreal-bmo-raised-to-outperform-at-macquarie.html.

About Bank of Montreal

Bank of Montreal (the Bank) is a financial services provider. The Bank provides a range of personal and commercial banking, wealth management and investment banking products and services. The Bank conducts its business through three operating groups: Personal and Commercial Banking (P&C), Wealth Management and BMO Capital Markets.

Analyst Recommendations for Bank of Montreal (TSE:BMO)

Receive News & Ratings for Bank of Montreal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of Montreal and related companies with MarketBeat.com's FREE daily email newsletter.

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