Bank of Montreal (NYSE:BMO) Receives Average Recommendation of "Hold" from Analysts

Shares of Bank of Montreal (NYSE:BMO - Get Free Report) TSE: BMO have received an average rating of "Hold" from the nine brokerages that are covering the firm, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $129.50.

A number of research analysts recently issued reports on the stock. Scotiabank started coverage on shares of Bank of Montreal in a research report on Thursday, May 15th. They set a "sector perform" rating for the company. Cibc World Mkts downgraded shares of Bank of Montreal from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. Wall Street Zen upgraded shares of Bank of Montreal from a "sell" rating to a "hold" rating in a report on Friday, February 28th. Royal Bank of Canada increased their price objective on shares of Bank of Montreal from $161.00 to $163.00 and gave the company an "outperform" rating in a report on Wednesday, February 26th. Finally, CIBC reissued a "neutral" rating on shares of Bank of Montreal in a research note on Tuesday, May 20th.

Bank of Montreal Price Performance

NYSE BMO opened at $108.25 on Friday. The firm has a market capitalization of $78.16 billion, a P/E ratio of 15.51, a P/E/G ratio of 1.43 and a beta of 1.08. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.11. Bank of Montreal has a 12-month low of $76.98 and a 12-month high of $109.10. The firm's fifty day simple moving average is $98.35 and its two-hundred day simple moving average is $98.36.

Bank of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last announced its quarterly earnings data on Wednesday, May 28th. The bank reported $1.84 earnings per share for the quarter, meeting analysts' consensus estimates of $1.84. The firm had revenue of $6.32 billion for the quarter, compared to analyst estimates of $8.79 billion. Bank of Montreal had a net margin of 9.22% and a return on equity of 10.18%. The business's quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the company earned $2.59 earnings per share. Analysts forecast that Bank of Montreal will post 7.71 EPS for the current fiscal year.

Bank of Montreal Increases Dividend

The firm also recently declared 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 represents a $4.72 annualized dividend and a yield of 4.36%. The ex-dividend date of this dividend is Wednesday, July 30th. This is a boost from Bank of Montreal's previous quarterly dividend of $1.11. Bank of Montreal's dividend payout ratio (DPR) is currently 58.75%.

Hedge Funds Weigh In On Bank of Montreal

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. North Star Asset Management Inc. raised its stake in Bank of Montreal by 1.2% during the 4th quarter. North Star Asset Management Inc. now owns 8,422 shares of the bank's stock worth $817,000 after acquiring an additional 100 shares in the last quarter. Oppenheimer & Co. Inc. boosted its holdings in shares of Bank of Montreal by 2.6% in the first quarter. Oppenheimer & Co. Inc. now owns 4,717 shares of the bank's stock valued at $451,000 after acquiring an additional 120 shares in the last quarter. Valeo Financial Advisors LLC boosted its holdings in shares of Bank of Montreal by 4.6% in the fourth quarter. Valeo Financial Advisors LLC now owns 2,865 shares of the bank's stock valued at $278,000 after acquiring an additional 125 shares in the last quarter. Wealthspire Advisors LLC boosted its holdings in shares of Bank of Montreal by 2.0% in the fourth quarter. Wealthspire Advisors LLC now owns 6,355 shares of the bank's stock valued at $617,000 after acquiring an additional 125 shares in the last quarter. Finally, Wealth Alliance LLC lifted its position in shares of Bank of Montreal by 1.8% during the 1st quarter. Wealth Alliance LLC now owns 8,146 shares of the bank's stock valued at $778,000 after acquiring an additional 142 shares during the period. Hedge funds and other institutional investors own 45.82% of the company's stock.

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.

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