Bank of Montreal (TSE:BMO) Given Average Rating of "Hold" by Brokerages

Key Points

• Bank of Montreal has a consensus “Hold” rating from 13 analysts: seven buys, five holds and one sell. The average 12-month price target is C$257.36.
• Several brokerages recently raised their price targets, with targets ranging from C$240 to C$272, although ratings generally remained “Hold” or equivalent.
• The bank reported quarterly EPS of C$2.38 on C$9.90 billion in revenue and increased its quarterly dividend to C$1.71, representing an annualized yield of approximately 2.9%.

Shares of Bank of Montreal (TSE:BMO - Get Free Report) NYSE: BMO have received a consensus rating of "Hold" from the thirteen analysts that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is C$257.36.

Several equities analysts recently issued reports on BMO shares. Canadian Imperial Bank of Commerce downgraded shares of Bank of Montreal from an "outperformer" rating to a "hold" rating and upped their price objective for the company from C$244.00 to C$272.00 in a research note on Wednesday, August 19th. Royal Bank Of Canada lifted their target price on shares of Bank of Montreal from C$230.00 to C$241.00 and gave the stock a "sector perform" rating in a research note on Wednesday, August 26th. Desjardins increased their target price on Bank of Montreal from C$230.00 to C$260.00 and gave the stock a "hold" rating in a research report on Wednesday, August 5th. Bank of America raised their price target on Bank of Montreal from C$259.00 to C$262.00 in a research note on Wednesday, August 26th. Finally, Barclays lifted their price target on Bank of Montreal from C$203.00 to C$240.00 in a report on Friday, August 21st.

Bank of Montreal Price Performance

Shares of TSE:BMO opened at C$234.19 on Wednesday. The firm has a market capitalization of C$163.26 billion, a price-to-earnings ratio of 19.09, a price-to-earnings-growth ratio of 0.71 and a beta of 1.22. The business's 50 day simple moving average is C$249.38 and its 200-day simple moving average is C$221.88. Bank of Montreal has a 12 month low of C$164.91 and a 12 month high of C$259.20.

Bank of Montreal (TSE:BMO - Get Free Report) NYSE: BMO last released its quarterly earnings results on Tuesday, August 25th. The bank reported C$2.38 EPS for the quarter. The business had revenue of C$9.90 billion for the quarter. Bank of Montreal had a net margin of 11.75% and a return on equity of 10.58%. On average, equities analysts anticipate that Bank of Montreal will post 9.6514585 earnings per share for the current year.

Bank of Montreal Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 26th were issued a $1.71 dividend. This is a boost from Bank of Montreal's previous quarterly dividend of $1.67. The ex-dividend date was Thursday, July 30th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.9%. Bank of Montreal's dividend payout ratio (DPR) is 54.44%.

Insider Buying and Selling at Bank of Montreal

In other news, Director Tayfun Tuzun sold 20,300 shares of the business's stock in a transaction on Friday, August 28th. The shares were sold at an average price of C$236.69, for a total transaction of C$4,804,807.00. Also, insider Mona Elizabeth Malone sold 4,517 shares of the company's stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of C$244.61, for a total value of C$1,104,903.37. Following the sale, the insider owned 1,758 shares of the company's stock, valued at approximately C$430,024.38. The trade was a 71.98% decrease in their ownership of the stock. Insiders have sold a total of 41,452 shares of company stock valued at $9,886,849 over the last three months. Corporate insiders own 0.03% of the company's stock.

Bank of Montreal Company Profile

Bank of Montreal is a diversified financial-services provider based in North America, operating four business segments: Canadian personal and commercial banking, U.S. P&C banking, wealth management, and capital markets.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source