Brokerages Set Bank Of Montreal (NYSE:BMO) Price Target at $163.00

Shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) have been given a consensus recommendation of “Hold” by the thirteen research firms that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $163.00.

Several equities analysts recently weighed in on BMO shares. Barclays reaffirmed an “underweight” rating on shares of Bank Of Montreal in a research report on Thursday. Jefferies Financial Group reaffirmed a “hold” rating on shares of Bank Of Montreal in a research report on Wednesday, February 25th. National Bank Financial reaffirmed a “sector perform” rating on shares of Bank Of Montreal in a research report on Wednesday, February 25th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Bank Of Montreal in a research report on Thursday. Finally, TD Securities reissued a “buy” rating on shares of Bank Of Montreal in a research report on Thursday.

Hedge Funds Weigh In On Bank Of Montreal

A number of institutional investors have recently modified their holdings of the company. Krane Financial Solutions LLC bought a new position in shares of Bank Of Montreal in the first quarter valued at approximately $235,000. Glenmede Trust Co. NA raised its position in shares of Bank Of Montreal by 3.7% in the first quarter. Glenmede Trust Co. NA now owns 6,810 shares of the bank’s stock valued at $922,000 after purchasing an additional 245 shares during the period. Segall Bryant & Hamill LLC bought a new position in shares of Bank Of Montreal in the first quarter valued at approximately $891,000. Western Wealth Management LLC bought a new position in shares of Bank Of Montreal in the first quarter valued at approximately $38,000. Finally, Strategic Investment Advisors MI bought a new position in shares of Bank Of Montreal in the first quarter valued at approximately $481,000. Institutional investors own 45.82% of the company’s stock.

Bank Of Montreal Price Performance

Shares of BMO opened at $162.07 on Friday. The firm has a market cap of $113.51 billion, a PE ratio of 17.20, a PEG ratio of 0.90 and a beta of 0.94. The firm’s 50 day moving average price is $148.07 and its 200 day moving average price is $139.17. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.02 and a current ratio of 1.02. Bank Of Montreal has a twelve month low of $104.08 and a twelve month high of $163.75.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last issued its quarterly earnings data on Wednesday, May 27th. The bank reported $2.68 earnings per share for the quarter, beating the consensus estimate of $2.54 by $0.14. The firm had revenue of $7.04 billion for the quarter, compared to analyst estimates of $6.98 billion. Bank Of Montreal had a net margin of 12.60% and a return on equity of 13.04%. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter last year, the firm earned $2.62 earnings per share. As a group, research analysts expect that Bank Of Montreal will post 11.82 EPS for the current fiscal year.

Bank Of Montreal Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Thursday, July 30th will be given a $1.71 dividend. This is a positive change from Bank Of Montreal’s previous quarterly dividend of $1.67. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Thursday, July 30th. Bank Of Montreal’s payout ratio is 50.96%.

About Bank Of Montreal

Bank of Montreal (NYSE:BMO), commonly known as BMO Financial Group, is one of Canada’s largest and longest-established banks. Founded in Montreal and headquartered in Montreal, Quebec, the bank provides a broad range of financial services to retail, commercial, corporate and institutional clients. BMO is publicly listed in both Canada and the United States and operates under a consolidated financial services model that integrates banking, capital markets, wealth management and asset management activities.

BMO’s core businesses include personal and commercial banking—offering checking and savings accounts, lending, mortgages, and small-business services—alongside wealth management and private banking through its asset and investment management divisions.