Bank Of Montreal (NYSE:BMO) Receives $129.50 Average Target Price from Brokerages

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO has been given an average recommendation of "Hold" by the eight analysts that are presently covering the company, Marketbeat reports. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $129.50.

Several research analysts recently weighed in on BMO shares. Scotiabank assumed coverage on Bank Of Montreal in a research report on Thursday, May 15th. They issued a "sector perform" rating on the stock. Barclays downgraded shares of Bank Of Montreal from an "overweight" rating to an "equal weight" rating in a research note on Monday, June 9th. CIBC reaffirmed a "neutral" rating on shares of Bank Of Montreal in a research report on Tuesday, May 20th. Finally, Cibc World Mkts downgraded Bank Of Montreal from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th.

Bank Of Montreal Trading Up 1.2%

Shares of BMO traded up $1.39 during mid-day trading on Thursday, hitting $113.53. The company had a trading volume of 433,828 shares, compared to its average volume of 823,061. Bank Of Montreal has a 1-year low of $76.98 and a 1-year high of $113.32. The business's 50-day simple moving average is $104.78 and its 200-day simple moving average is $99.86. The stock has a market cap of $81.77 billion, a PE ratio of 14.72, a P/E/G ratio of 1.24 and a beta of 1.07. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.12.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last posted its quarterly earnings results on Wednesday, May 28th. The bank reported $1.84 earnings per share for the quarter, hitting analysts' consensus estimates of $1.84. Bank Of Montreal had a net margin of 10.25% and a return on equity of 10.15%. The company had revenue of $6.32 billion for the quarter, compared to the consensus estimate of $8.79 billion. During the same quarter last year, the firm posted $2.59 earnings per share. Bank Of Montreal's revenue was up 8.8% on a year-over-year basis. Sell-side analysts forecast that Bank Of Montreal will post 7.71 earnings per share for the current year.

Bank Of Montreal Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Wednesday, July 30th will be given a $1.1801 dividend. This is a boost from Bank Of Montreal's previous quarterly dividend of $1.11. This represents a $4.72 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date of this dividend is Wednesday, July 30th. Bank Of Montreal's dividend payout ratio is presently 57.33%.

Institutional Trading of Bank Of Montreal

Hedge funds and other institutional investors have recently modified their holdings of the business. Cary Street Partners Investment Advisory LLC increased its holdings in Bank Of Montreal by 228.9% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 273 shares of the bank's stock worth $26,000 after purchasing an additional 190 shares during the last quarter. IFP Advisors Inc increased its stake in shares of Bank Of Montreal by 179.5% in the fourth quarter. IFP Advisors Inc now owns 313 shares of the bank's stock worth $30,000 after buying an additional 201 shares during the last quarter. Bayforest Capital Ltd acquired a new stake in Bank Of Montreal in the first quarter valued at $34,000. Vision Financial Markets LLC bought a new position in Bank Of Montreal during the 4th quarter valued at $39,000. Finally, Dunhill Financial LLC bought a new position in Bank Of Montreal during the 4th quarter valued at $39,000. 45.82% of the stock is owned by hedge funds and other institutional investors.

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.