Analysts Set Bank Of Montreal (BMO) Target Price at $83.84
Bank Of Montreal (NYSE:BMO) has earned an average rating of “Hold” from the sixteen analysts that are presently covering the company. Two investment analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $83.84.
BMO has been the subject of several recent research reports. Zacks Investment Research raised Bank Of Montreal from a “hold” rating to a “buy” rating and set a $71.00 price objective for the company in a research note on Thursday, August 4th. Desjardins reissued a “hold” rating and issued a $86.00 price objective (up from $84.00) on shares of Bank Of Montreal in a research note on Thursday, August 25th. Credit Suisse Group AG reissued a “hold” rating on shares of Bank Of Montreal in a research note on Sunday, September 11th. TD Securities reissued a “hold” rating and issued a $89.00 price objective (up from $86.00) on shares of Bank Of Montreal in a research note on Thursday, August 25th. Finally, Dundee Securities initiated coverage on Bank Of Montreal in a research note on Wednesday, September 21st. They issued a “neutral” rating for the company.
A number of institutional investors have recently bought and sold shares of the company. CIBC World Markets Inc. raised its position in Bank Of Montreal by 0.9% in the second quarter. CIBC World Markets Inc. now owns 27,233,628 shares of the company’s stock valued at $1,726,340,000 after buying an additional 244,618 shares during the last quarter. TD Asset Management Inc. raised its position in Bank Of Montreal by 2.1% in the second quarter. TD Asset Management Inc. now owns 26,138,912 shares of the company’s stock valued at $1,649,406,000 after buying an additional 530,618 shares during the last quarter. Bank of Montreal Can purchased a new position in Bank Of Montreal during the second quarter valued at about $980,506,000. Capital Research Global Investors raised its position in Bank Of Montreal by 97.1% in the second quarter. Capital Research Global Investors now owns 12,729,160 shares of the company’s stock valued at $807,426,000 after buying an additional 6,269,734 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Bank Of Montreal by 13.2% in the second quarter. Vanguard Group Inc. now owns 12,343,265 shares of the company’s stock valued at $782,440,000 after buying an additional 1,436,726 shares during the last quarter. 47.95% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Bank Of Montreal (NYSE:BMO) opened at 63.90 on Tuesday. The stock’s 50 day moving average price is $64.25 and its 200 day moving average price is $64.39. Bank Of Montreal has a 52-week low of $47.54 and a 52-week high of $67.69. The company has a market capitalization of $41.22 billion, a P/E ratio of 12.74 and a beta of 1.06.
Bank Of Montreal (NYSE:BMO) last posted its quarterly earnings data on Tuesday, August 23rd. The company reported $1.94 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.83 by $0.11. Bank Of Montreal had a return on equity of 12.66% and a net margin of 17.82%. The firm earned $5.63 billion during the quarter, compared to the consensus estimate of $3.88 billion. During the same period in the prior year, the company earned $1.86 EPS. The firm’s revenue was up 16.7% compared to the same quarter last year. On average, equities research analysts forecast that Bank Of Montreal will post $5.43 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, November 28th. Investors of record on Tuesday, November 1st will be paid a dividend of $0.6696 per share. This is a positive change from Bank Of Montreal’s previous quarterly dividend of $0.66. The ex-dividend date is Friday, October 28th. This represents a $2.68 annualized dividend and a yield of 4.19%. Bank Of Montreal’s dividend payout ratio is presently 51.68%.
About Bank Of Montreal
Bank of Montreal (BMO) is a financial services company. The Bank provides a range of personal and commercial banking, wealth management and investment banking products and services. The Bank’s operating groups include Personal and Commercial Banking, Wealth Management, BMO Capital Markets (BMO CM) and Corporate Services, including Technology and Operations.
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