Bank Of Montreal (NYSE:BMO) Receives $163.00 Average Target Price from Analysts

Shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) have earned a consensus rating of “Hold” from the thirteen analysts that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $163.00.

Several research firms have recently weighed in on BMO. Desjardins reaffirmed a “hold” rating on shares of Bank Of Montreal in a research note on Thursday, May 28th. Zacks Research downgraded Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Scotiabank reaffirmed an “outperform” rating on shares of Bank Of Montreal in a research report on Tuesday, June 16th. Raymond James Financial reiterated an “outperform” rating on shares of Bank Of Montreal in a report on Tuesday, May 12th. Finally, Barclays reissued an “underweight” rating on shares of Bank Of Montreal in a research report on Thursday, May 28th.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in BMO. AQR Capital Management LLC lifted its holdings in shares of Bank Of Montreal by 87.1% during the 1st quarter. AQR Capital Management LLC now owns 5,742 shares of the bank’s stock valued at $548,000 after purchasing an additional 2,673 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in Bank Of Montreal during the 2nd quarter worth approximately $1,018,000. Cerity Partners LLC grew its position in Bank Of Montreal by 1.4% during the 2nd quarter. Cerity Partners LLC now owns 12,364 shares of the bank’s stock worth $1,368,000 after purchasing an additional 167 shares during the last quarter. Qube Research & Technologies Ltd increased its stake in Bank Of Montreal by 166.3% during the 2nd quarter. Qube Research & Technologies Ltd now owns 411,108 shares of the bank’s stock valued at $45,518,000 after purchasing an additional 256,755 shares in the last quarter. Finally, NewEdge Advisors LLC raised its holdings in shares of Bank Of Montreal by 5,614.3% in the second quarter. NewEdge Advisors LLC now owns 2,800 shares of the bank’s stock worth $310,000 after buying an additional 2,751 shares during the last quarter. 45.82% of the stock is owned by institutional investors.

Bank Of Montreal Price Performance

BMO stock opened at $182.19 on Monday. Bank Of Montreal has a 52 week low of $109.64 and a 52 week high of $184.21. The firm has a market capitalization of $127.61 billion, a P/E ratio of 19.34, a price-to-earnings-growth ratio of 1.02 and a beta of 0.93. The company has a fifty day simple moving average of $167.94 and a two-hundred day simple moving average of $150.38. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.11.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last posted its earnings results on Wednesday, May 27th. The bank reported $2.68 earnings per share for the quarter, topping 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 firm had revenue of $7.04 billion for the quarter, compared to the consensus estimate of $6.98 billion. During the same period in the previous year, the firm posted $2.62 EPS. The business’s quarterly revenue was up 10.2% on a year-over-year basis. Analysts anticipate that Bank Of Montreal will post 11.82 earnings per share for the current fiscal year.

Bank Of Montreal Increases Dividend

The firm 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 represents a $6.84 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Thursday, July 30th. This is a boost from Bank Of Montreal’s previous quarterly dividend of $1.67. Bank Of Montreal’s dividend payout ratio is currently 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.