Brokerages Set Bank Of Montreal (NYSE:BMO) Target Price at $163.00

Bank Of Montreal (NYSE:BMO) (TSE:BMO) has been assigned an average rating of “Hold” from the twelve analysts that are covering the stock, Marketbeat reports. Eight research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $163.00.

Several research analysts have recently weighed in on BMO shares. Scotiabank restated a “sector perform” rating on shares of Bank Of Montreal in a research note on Friday, January 9th. Wall Street Zen upgraded shares of Bank Of Montreal from a “sell” rating to a “hold” rating in a report on Saturday, December 6th. Raymond James Financial began coverage on shares of Bank Of Montreal in a research report on Monday, November 24th. They issued a “market perform” rating for the company. Royal Bank Of Canada cut Bank Of Montreal from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $168.00 to $163.00 in a research note on Friday, October 3rd. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Bank Of Montreal in a research note on Monday, December 29th.

Bank Of Montreal Price Performance

BMO stock opened at $137.72 on Monday. The firm has a market cap of $97.45 billion, a P/E ratio of 16.88, a price-to-earnings-growth ratio of 1.14 and a beta of 0.94. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.00 and a current ratio of 1.00. Bank Of Montreal has a 1 year low of $85.40 and a 1 year high of $139.00. The stock has a 50-day simple moving average of $129.65 and a 200-day simple moving average of $124.40.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly earnings results on Thursday, December 4th. The bank reported $2.36 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.20. Bank Of Montreal had a return on equity of 11.76% and a net margin of 11.13%.The firm had revenue of $6.67 billion during the quarter, compared to analysts’ expectations of $6.51 billion. During the same quarter in the prior year, the business earned $1.90 EPS. Bank Of Montreal’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, equities analysts predict that Bank Of Montreal will post 7.71 earnings per share for the current fiscal year.

Bank Of Montreal Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 26th. Investors of record on Friday, January 30th will be paid a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 4.9%. This is a boost from Bank Of Montreal’s previous quarterly dividend of $1.63. The ex-dividend date is Friday, January 30th. Bank Of Montreal’s payout ratio is presently 57.35%.

Hedge Funds Weigh In On Bank Of Montreal

Several large investors have recently modified their holdings of the stock. Canerector Inc. grew its stake in Bank Of Montreal by 18,035.0% in the third quarter. Canerector Inc. now owns 22,668,750 shares of the bank’s stock worth $2,952,605,000 after purchasing an additional 22,543,750 shares in the last quarter. Norges Bank acquired a new stake in Bank Of Montreal during the second quarter valued at approximately $1,184,220,000. Public Sector Pension Investment Board lifted its holdings in Bank Of Montreal by 2,986.1% during the 2nd quarter. Public Sector Pension Investment Board now owns 2,170,118 shares of the bank’s stock worth $240,009,000 after buying an additional 2,099,800 shares during the last quarter. TD Asset Management Inc grew its position in shares of Bank Of Montreal by 10.3% in the 3rd quarter. TD Asset Management Inc now owns 19,079,026 shares of the bank’s stock worth $2,486,691,000 after acquiring an additional 1,789,188 shares in the last quarter. Finally, UBS Group AG grew its position in shares of Bank Of Montreal by 155.3% in the 3rd quarter. UBS Group AG now owns 2,127,377 shares of the bank’s stock worth $277,091,000 after acquiring an additional 1,294,169 shares in the last quarter. Institutional investors own 45.82% of the company’s stock.

Bank Of Montreal Company Profile

Bank of Montreal (NYSE:BMO), commonly known as BMO Financial Group, is one of Canada’s largest and longest-established banks. Founded in Montreal and headquartered in Montreal, Quebec, the bank provides a broad range of financial services to retail, commercial, corporate and institutional clients. BMO is publicly listed in both Canada and the United States and operates under a consolidated financial services model that integrates banking, capital markets, wealth management and asset management activities.

BMO’s core businesses include personal and commercial banking—offering checking and savings accounts, lending, mortgages, and small-business services—alongside wealth management and private banking through its asset and investment management divisions.