Bank of Montreal (TSE:BMO) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Bank of Montreal (TSE:BMO) (NYSE:BMO) have earned an average rating of “Hold” from the thirteen research firms that are covering the firm, Marketbeat.com reports. Eight investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is C$120.77.

Several equities research analysts have commented on BMO shares. Jefferies Financial Group cut their target price on Bank of Montreal from C$141.00 to C$124.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Desjardins cut their price objective on shares of Bank of Montreal from C$125.00 to C$120.00 and set a “hold” rating on the stock in a research report on Wednesday, August 28th. Royal Bank of Canada decreased their target price on shares of Bank of Montreal from C$118.00 to C$106.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 28th. Bank of America cut shares of Bank of Montreal from a “buy” rating to a “neutral” rating and cut their price target for the stock from C$134.00 to C$117.00 in a research report on Wednesday, August 28th. Finally, CIBC raised their price objective on Bank of Montreal from C$116.00 to C$120.00 in a report on Friday, September 6th.

Insider Activity

In related news, Senior Officer Steven Lloyd Tennyson sold 7,908 shares of Bank of Montreal stock in a transaction on Thursday, September 5th. The stock was sold at an average price of C$112.16, for a total transaction of C$886,977.10. In related news, Senior Officer Steven Lloyd Tennyson sold 7,908 shares of Bank of Montreal stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of C$112.16, for a total value of C$886,977.10. Also, Senior Officer David Robert Casper sold 12,819 shares of the business’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of C$121.85, for a total value of C$1,562,007.97. 0.03% of the stock is currently owned by corporate insiders.

Bank of Montreal Trading Up 0.9 %

Shares of Bank of Montreal stock opened at C$123.12 on Wednesday. The stock’s fifty day simple moving average is C$116.49 and its 200 day simple moving average is C$121.23. The company has a market capitalization of C$89.80 billion, a PE ratio of 14.17, a PEG ratio of 0.54 and a beta of 1.15. Bank of Montreal has a 12 month low of C$102.67 and a 12 month high of C$133.95.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last announced its earnings results on Tuesday, August 27th. The bank reported C$2.64 EPS for the quarter, missing the consensus estimate of C$2.72 by C($0.08). The company had revenue of C$8.19 billion for the quarter, compared to analyst estimates of C$8.23 billion. Bank of Montreal had a return on equity of 8.49% and a net margin of 21.20%. Analysts predict that Bank of Montreal will post 11.1628545 EPS for the current fiscal year.

Bank of Montreal Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 26th will be paid a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 5.04%. The ex-dividend date is Wednesday, October 30th. Bank of Montreal’s dividend payout ratio (DPR) is presently 71.35%.

About Bank of Montreal

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.