Bank Of Montreal (NYSE:BMO) Given Average Recommendation of “Hold” by Brokerages

Shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) have received an average rating of “Hold” from the thirteen brokerages that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $163.00.

Several equities analysts have commented on BMO shares. Desjardins reissued a “hold” rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. Raymond James Financial reaffirmed an “outperform” rating on shares of Bank Of Montreal in a report on Tuesday, May 12th. Weiss Ratings downgraded Bank Of Montreal from a “buy (b+)” rating to a “buy (b)” rating in a research report on Thursday, July 23rd. Scotiabank reiterated an “outperform” rating on shares of Bank Of Montreal in a report on Tuesday, June 16th. Finally, TD Securities reissued a “buy” rating on shares of Bank Of Montreal in a research report on Wednesday.

Bank Of Montreal Stock Performance

NYSE BMO opened at $184.14 on Friday. The company has a fifty day moving average price of $176.00 and a 200-day moving average price of $156.69. The firm has a market cap of $128.37 billion, a price-to-earnings ratio of 19.55, a PEG ratio of 1.02 and a beta of 0.94. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.02. Bank Of Montreal has a 1 year low of $112.21 and a 1 year high of $184.82.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly earnings results on Wednesday, May 27th. The bank reported $2.68 earnings per share for the quarter, beating analysts’ consensus estimates of $2.54 by $0.14. Bank Of Montreal had a net margin of 12.60% and a return on equity of 13.04%. The company had revenue of $7.04 billion for the quarter, compared to analyst estimates of $6.98 billion. During the same period last year, the firm earned $2.62 earnings per share. The firm’s revenue was up 10.2% on a year-over-year basis. As a group, equities research analysts predict that Bank Of Montreal will post 11.86 EPS for the current fiscal year.

Bank Of Montreal Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Thursday, July 30th will be paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Thursday, July 30th. This is a positive change from Bank Of Montreal’s previous quarterly dividend of $1.67. Bank Of Montreal’s dividend payout ratio (DPR) is presently 51.06%.

Hedge Funds Weigh In On Bank Of Montreal

Institutional investors have recently added to or reduced their stakes in the stock. Jefferies Financial Group Inc. lifted its holdings in Bank Of Montreal by 6,300.1% during the fourth quarter. Jefferies Financial Group Inc. now owns 479,492 shares of the bank’s stock valued at $62,233,000 after purchasing an additional 472,000 shares during the last quarter. Andra AP fonden bought a new position in Bank Of Montreal during the first quarter worth about $3,979,000. Vanguard Group Inc. increased its stake in shares of Bank Of Montreal by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 33,017,205 shares of the bank’s stock worth $4,287,878,000 after purchasing an additional 673,248 shares in the last quarter. Generali Asset Management SPA SGR increased its stake in shares of Bank Of Montreal by 15.0% in the fourth quarter. Generali Asset Management SPA SGR now owns 86,672 shares of the bank’s stock worth $11,249,000 after purchasing an additional 11,320 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of Bank Of Montreal by 2,127.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 349,694 shares of the bank’s stock valued at $45,387,000 after purchasing an additional 333,994 shares during the period. Institutional investors own 45.82% of the company’s stock.

Bank Of Montreal Company Profile

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.