Bank Of Montreal (NYSE:BMO) Stock Has Average Target Price of $163.00

Shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) have been given a consensus rating of “Hold” by the twelve ratings firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $163.00.

BMO has been the topic of several research analyst reports. Keefe, Bruyette & Woods assumed coverage on Bank Of Montreal in a research note on Friday, August 21st. They issued an “outperform” rating on the stock. TD Securities reaffirmed a “buy” rating on shares of Bank Of Montreal in a research report on Wednesday, August 12th. Weiss Ratings cut Bank Of Montreal from a “buy (b+)” rating to a “buy (b)” rating in a report on Thursday, July 23rd. Royal Bank Of Canada reissued a “sector perform” rating on shares of Bank Of Montreal in a research report on Thursday, August 27th. Finally, Barclays restated an “underweight” rating on shares of Bank Of Montreal in a research note on Friday, August 21st.

Institutional Investors Weigh In On Bank Of Montreal

Several large investors have recently modified their holdings of the business. HighTower Advisors LLC increased its position in shares of Bank Of Montreal by 0.3% during the second quarter. HighTower Advisors LLC now owns 22,179 shares of the bank’s stock worth $3,919,000 after purchasing an additional 58 shares in the last quarter. Versant Capital Management Inc boosted its stake in Bank Of Montreal by 1.9% during the 2nd quarter. Versant Capital Management Inc now owns 4,241 shares of the bank’s stock worth $749,000 after purchasing an additional 78 shares during the last quarter. Checchi Capital Advisers LLC boosted its stake in Bank Of Montreal by 2.9% during the 1st quarter. Checchi Capital Advisers LLC now owns 3,141 shares of the bank’s stock worth $425,000 after purchasing an additional 88 shares during the last quarter. Turn8 Private Wealth Inc. grew its holdings in shares of Bank Of Montreal by 0.8% during the first quarter. Turn8 Private Wealth Inc. now owns 11,215 shares of the bank’s stock worth $1,514,000 after buying an additional 93 shares in the last quarter. Finally, Arkadios Wealth Advisors raised its position in shares of Bank Of Montreal by 5.6% in the first quarter. Arkadios Wealth Advisors now owns 1,775 shares of the bank’s stock valued at $240,000 after buying an additional 94 shares during the last quarter. Institutional investors own 45.82% of the company’s stock.

Bank Of Montreal Stock Down 0.6%

Shares of BMO opened at $171.19 on Friday. The firm has a fifty day moving average price of $176.41 and a 200-day moving average price of $163.91. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $118.99 billion, a P/E ratio of 19.32, a P/E/G ratio of 0.91 and a beta of 0.93. Bank Of Montreal has a 12-month low of $119.84 and a 12-month high of $187.22.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings results on Tuesday, August 25th. The bank reported $2.84 EPS for the quarter, topping the consensus estimate of $2.71 by $0.13. The company had revenue of $7.10 billion for the quarter, compared to the consensus estimate 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 was up 10.1% compared to the same quarter last year. During the same quarter last year, the firm posted $3.23 EPS. Equities research analysts expect that Bank Of Montreal will post 12.13 earnings per share for the current year.

Bank Of Montreal Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 26th. Shareholders of record on Friday, October 30th will be issued a dividend of C$1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.0%. The ex-dividend date is Friday, October 30th. Bank Of Montreal’s dividend payout ratio is presently 54.29%.

About Bank Of Montreal

Bank of Montreal, operating under the BMO Financial Group name, is a diversified financial services company headquartered in Montreal, Quebec. Founded in 1817, it is one of Canada’s largest banks and the country’s oldest continuously operating bank.

BMO provides personal and commercial banking services, including deposit accounts, lending, mortgages, credit cards, payment solutions and cash-management products. Through its wealth management businesses, the company offers investment, advisory, private banking, asset-management and retirement-planning services to individuals, families and institutions.

The company also operates a capital markets business that provides investment banking, corporate lending, financial advisory, trading, research and other services to corporations, governments and institutional clients.