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

Key Points

• Analyst consensus is “Hold” for Bank of Montreal, with six buy, six hold, and one sell rating among 13 analysts. The average 12-month price target is $244.00.
• Bank of Montreal beat quarterly expectations, reporting $2.84 in EPS versus the $2.71 estimate and $7.10 billion in revenue versus $6.94 billion expected; revenue increased 10.1% year over year.
• The bank declared a quarterly dividend of C$1.71 per share, equivalent to C$6.84 annually and a 4.1% yield, while institutional investors own 45.82% of its shares.

Shares of Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO have earned an average recommendation of "Hold" from the thirteen ratings firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $244.00.

Several research analysts recently commented on BMO shares. Canadian Imperial Bank of Commerce cut Bank Of Montreal from a "sector outperform" rating to a "neutral" rating in a research note on Tuesday, August 18th. Keefe, Bruyette & Woods initiated coverage on Bank Of Montreal in a report on Friday, August 21st. They issued an "outperform" rating for the company. Barclays restated an "underweight" rating on shares of Bank Of Montreal in a research note on Friday, August 21st. TD Securities restated a "buy" rating on shares of Bank Of Montreal in a research note on Wednesday, August 12th. Finally, Royal Bank Of Canada restated a "sector perform" rating on shares of Bank Of Montreal in a report on Thursday, August 27th.

Bank Of Montreal Stock Performance

Bank Of Montreal stock opened at $167.36 on Wednesday. Bank Of Montreal has a 12-month low of $119.84 and a 12-month high of $187.22. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market capitalization of $116.33 billion, a price-to-earnings ratio of 18.89, a price-to-earnings-growth ratio of 1.00 and a beta of 0.95. The firm's fifty day moving average price is $171.87 and its 200 day moving average price is $167.16.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last posted its quarterly earnings data on Tuesday, August 25th. The bank reported $2.84 earnings per share for the quarter, beating analysts' consensus estimates of $2.71 by $0.13. The company had revenue of $7.10 billion during the quarter, compared to analysts' expectations of $6.94 billion. Bank Of Montreal had a net margin of 11.72% and a return on equity of 13.60%. The firm's revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the prior year, the company posted $3.23 EPS. On average, research analysts forecast that Bank Of Montreal will post 10.65 EPS for the current fiscal year.

Bank Of Montreal Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 26th. Stockholders of record on Friday, October 30th will be paid a dividend of C$1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.1%. The ex-dividend date is Friday, October 30th. Bank Of Montreal's dividend payout ratio is 54.29%.

Institutional Trading of Bank Of Montreal

Hedge funds have recently made changes to their positions in the stock. Canada Pension Plan Investment Board bought a new stake in shares of Bank Of Montreal in the 2nd quarter valued at approximately $1,281,220,000. TD Waterhouse Canada Inc. raised its position in shares of Bank Of Montreal by 0.3% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 6,371,237 shares of the bank's stock valued at $1,057,374,000 after acquiring an additional 20,334 shares in the last quarter. Caisse de depot et placement du Quebec bought a new position in Bank Of Montreal during the second quarter worth $957,549,000. Bank of Nova Scotia bought a new position in Bank Of Montreal during the second quarter worth $920,002,000. Finally, Legal & General Group Plc bought a new position in Bank Of Montreal during the second quarter worth $744,214,000. Institutional investors and hedge funds own 45.82% of the company's stock.

About Bank Of Montreal

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.

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