Bank of Montreal (TSE:BMO) Receives Average Recommendation of “Moderate Buy” from Brokerages

by · The Markets Daily

Shares of Bank of Montreal (TSE:BMO – Get Free Report) (NYSE:BMO) have received a consensus recommendation of “Moderate Buy” from the thirteen brokerages that are currently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is C$131.96.

A number of analysts have recently weighed in on the stock. CIBC cut their price target on shares of Bank of Montreal from C$125.00 to C$120.00 and set a “neutral” rating for the company in a report on Friday, March 8th. Keefe, Bruyette & Woods downgraded shares of Bank of Montreal from a “moderate buy” rating to a “hold” rating in a research note on Monday, June 3rd. TD Securities dropped their price objective on shares of Bank of Montreal from C$142.00 to C$135.00 and set a “buy” rating for the company in a research note on Thursday, May 30th. Jefferies Financial Group increased their price objective on shares of Bank of Montreal from C$136.00 to C$142.00 in a research note on Monday, May 13th. Finally, Cormark dropped their price objective on shares of Bank of Montreal from C$141.00 to C$133.00 in a research note on Thursday, May 30th.

Check Out Our Latest Analysis on BMO

Bank of Montreal Trading Up 0.7 %

Shares of Bank of Montreal stock opened at C$114.83 on Monday. The company has a 50 day moving average of C$122.61 and a 200-day moving average of C$125.99. Bank of Montreal has a 1-year low of C$102.67 and a 1-year high of C$133.95. The company has a market cap of C$83.30 billion, a PE ratio of 15.75, a price-to-earnings-growth ratio of 0.54 and a beta of 1.19.

Bank of Montreal (TSE:BMO – Get Free Report) (NYSE:BMO) last issued its quarterly earnings results on Wednesday, May 29th. The bank reported C$2.59 earnings per share for the quarter, missing analysts’ consensus estimates of C$2.74 by C($0.15). Bank of Montreal had a return on equity of 7.28% and a net margin of 17.71%. The firm had revenue of C$7.97 billion for the quarter, compared to the consensus estimate of C$8.06 billion. Research analysts forecast that Bank of Montreal will post 11.2532189 earnings per share for the current year.

Bank of Montreal Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 27th. Stockholders of record on Tuesday, July 30th will be paid a dividend of $1.55 per share. The ex-dividend date of this dividend is Tuesday, July 30th. This represents a $6.20 annualized dividend and a dividend yield of 5.40%. This is an increase from Bank of Montreal’s previous quarterly dividend of $1.51. Bank of Montreal’s dividend payout ratio (DPR) is presently 82.85%.

Bank of Montreal Company Profile

(Get Free Report

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.

Recommended Stories