Bank Of Montreal (NYSE:BMO) Receives $168.00 Average PT from Analysts

Key Points

• Bank of Montreal has a consensus rating of "Moderate Buy" from analysts, with an average price target of $168.00.
• The bank has recently increased its quarterly dividend to $1.63 per share, representing a 5.1% dividend yield.
• Bank of Montreal reported a 9.7% year-over-year revenue increase and beat earnings per share expectations in its latest quarterly results.

Shares of Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO have been assigned an average rating of "Moderate Buy" from the eight brokerages that are presently covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $168.00.

A number of equities research analysts recently weighed in on BMO shares. Wall Street Zen downgraded shares of Bank Of Montreal from a "hold" rating to a "sell" rating in a research note on Saturday, August 30th. UBS Group reaffirmed a "neutral" rating on shares of Bank Of Montreal in a research note on Wednesday, August 27th. Cibc World Mkts upgraded Bank Of Montreal from a "hold" rating to a "strong-buy" rating in a research report on Friday, September 5th. CIBC upgraded Bank Of Montreal from a "neutral" rating to a "sector outperform" rating in a report on Friday, September 5th. Finally, National Bankshares restated an "outperform" rating on shares of Bank Of Montreal in a research note on Friday, August 15th.

Bank Of Montreal Price Performance

NYSE:BMO traded up $0.90 during mid-day trading on Tuesday, hitting $130.29. 628,552 shares of the stock traded hands, compared to its average volume of 713,949. The business's 50-day moving average price is $117.73 and its 200 day moving average price is $106.77. The company has a market cap of $93.14 billion, a PE ratio of 15.95, a price-to-earnings-growth ratio of 1.32 and a beta of 1.04. Bank Of Montreal has a 12-month low of $85.40 and a 12-month high of $131.26. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.11.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last issued its quarterly earnings data on Tuesday, August 26th. The bank reported $2.33 EPS for the quarter, beating the consensus estimate of $2.12 by $0.21. The company had revenue of $6.51 billion during the quarter, compared to analysts' expectations of $8.84 billion. Bank Of Montreal had a net margin of 11.00% and a return on equity of 10.57%. Bank Of Montreal's revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.64 earnings per share. On average, analysts expect that Bank Of Montreal will post 7.71 EPS for the current fiscal year.

Bank Of Montreal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Thursday, October 30th will be issued a dividend of $1.63 per share. This is a boost from Bank Of Montreal's previous quarterly dividend of $1.18. The ex-dividend date of this dividend is Thursday, October 30th. This represents a $6.52 annualized dividend and a dividend yield of 5.0%. Bank Of Montreal's payout ratio is currently 58.63%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Orion Porfolio Solutions LLC raised its position in shares of Bank Of Montreal by 9.3% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 10,246 shares of the bank's stock valued at $1,134,000 after buying an additional 875 shares in the last quarter. Geneos Wealth Management Inc. raised its position in shares of Bank Of Montreal by 64.3% during the 2nd quarter. Geneos Wealth Management Inc. now owns 2,783 shares of the bank's stock valued at $308,000 after buying an additional 1,089 shares in the last quarter. Public Sector Pension Investment Board raised its position in shares of 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 valued at $240,009,000 after buying an additional 2,099,800 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Bank Of Montreal during the 2nd quarter valued at about $61,000. Finally, Corient Private Wealth LLC raised its position in shares of Bank Of Montreal by 30.2% during the 2nd quarter. Corient Private Wealth LLC now owns 22,684 shares of the bank's stock valued at $2,510,000 after buying an additional 5,267 shares in the last quarter. Institutional investors own 45.82% of the company's stock.

Bank Of Montreal Company Profile

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.