Bank Of Montreal (NYSE:BMO) Stock Has Average Target Price of $244.00 According to Analysts

Bank Of Montreal (NYSE:BMO) (TSE:BMO) has received an average rating of “Hold” from the thirteen analysts that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and six have issued a buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $244.00.

A number of brokerages recently commented on BMO. Keefe, Bruyette & Woods assumed coverage on Bank Of Montreal in a research report on Friday, August 21st. They set an “outperform” rating on the stock. Barclays reissued an “underweight” rating on shares of Bank Of Montreal in a research note on Friday, August 21st. Scotiabank restated an “outperform” rating on shares of Bank Of Montreal in a report on Wednesday, August 26th. TD Securities reaffirmed a “buy” rating on shares of Bank Of Montreal in a research note on Wednesday, August 12th. Finally, Weiss Ratings lowered Bank Of Montreal from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, October 14th.

Hedge Funds Weigh In On Bank Of Montreal

Several institutional investors and hedge funds have recently bought and sold shares of the company. Bank of Nova Scotia acquired a new stake in shares of Bank Of Montreal in the second quarter valued at $920,002,000. Tacita Capital Inc purchased a new stake in shares of Bank Of Montreal in the 2nd quarter valued at $1,518,000. Andra AP fonden purchased a new stake in shares of Bank Of Montreal in the 1st quarter valued at $3,979,000. Deutsche Bank AG purchased a new stake in shares of Bank Of Montreal in the 2nd quarter valued at $235,791,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Bank Of Montreal in the 2nd quarter valued at $10,555,000. 45.82% of the stock is currently owned by institutional investors and hedge funds.

Bank Of Montreal Price Performance

BMO opened at $172.11 on Wednesday. The company’s 50 day simple moving average is $170.63 and its two-hundred day simple moving average is $159.26. Bank Of Montreal has a 1-year low of $119.84 and a 1-year high of $187.22.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last issued its earnings results on Tuesday, August 25th. The bank reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.71 by $0.13. The company had revenue of $7.10 billion for the quarter, compared to analyst estimates of $6.94 billion. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.23 earnings per share. Equities research analysts anticipate that Bank Of Montreal will post 10.65 EPS for the current year.

Bank Of Montreal Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 26th. Investors of record on Friday, October 30th will be issued a C$1.71 dividend. The ex-dividend date of this dividend is Friday, October 30th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.0%.

Bank Of Montreal Company Profile

Bank of Montreal, operating under the BMO Financial Group brand, is a diversified financial services company headquartered in Toronto, Canada. Founded in 1817, it is one of Canada’s oldest banks and serves individual, business, institutional and government customers.

BMO provides personal banking products such as deposit accounts, mortgages, consumer loans, credit cards and investment services. Its commercial banking operations offer lending, treasury management and other financial solutions to small and medium-sized businesses and larger corporate clients.

Through its wealth management business, BMO provides investment management, financial planning, private banking and brokerage services.