Bank of Montreal (TSE:BMO) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Bank of Montreal (TSE:BMOGet Free Report) (NYSE:BMO) has been assigned an average recommendation of “Moderate Buy” from the thirteen ratings firms that are covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is C$131.96.

BMO has been the subject of several analyst reports. Keefe, Bruyette & Woods cut shares of Bank of Montreal from a “moderate buy” rating to a “hold” rating in a report on Monday, June 3rd. Cormark reduced their price objective on shares of Bank of Montreal from C$141.00 to C$133.00 in a research report on Thursday, May 30th. Jefferies Financial Group boosted their price objective on shares of Bank of Montreal from C$136.00 to C$142.00 in a research report on Monday, May 13th. Scotiabank reduced their price objective on shares of Bank of Montreal from C$137.00 to C$129.00 and set an “outperform” rating for the company in a research report on Thursday, May 30th. Finally, CIBC reduced their price target on shares of Bank of Montreal from C$125.00 to C$120.00 and set a “neutral” rating for the company in a research report on Friday, March 8th.

Check Out Our Latest Analysis on Bank of Montreal

Bank of Montreal Stock Performance

Shares of BMO stock opened at C$114.83 on Monday. The stock has a market capitalization of C$83.30 billion, a P/E ratio of 15.75, a price-to-earnings-growth ratio of 0.54 and a beta of 1.19. The company has a 50 day moving average price of C$122.61 and a 200 day moving average price of C$126.06. Bank of Montreal has a fifty-two week low of C$102.67 and a fifty-two week high of C$133.95.

Bank of Montreal (TSE:BMOGet Free Report) (NYSE:BMO) last announced its quarterly earnings data on Wednesday, May 29th. The bank reported C$2.59 earnings per share for the quarter, missing analysts’ consensus estimates of C$2.74 by C($0.15). Bank of Montreal had a net margin of 17.71% and a return on equity of 7.28%. The business had revenue of C$7.97 billion during the quarter, compared to analyst estimates of C$8.06 billion. On average, research analysts forecast that Bank of Montreal will post 11.2532189 EPS for the current fiscal year.

Bank of Montreal Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 27th. Shareholders of record on Tuesday, July 30th will be given a dividend of $1.55 per share. The ex-dividend date is Tuesday, July 30th. This represents a $6.20 dividend on an annualized basis and a yield of 5.40%. This is an increase from Bank of Montreal’s previous quarterly dividend of $1.51. Bank of Montreal’s dividend payout ratio is presently 82.85%.

About Bank of Montreal

(Get Free Report

Bank of Montreal provides diversified financial services primarily in North America. It operates through Canadian P&C, U.S P&C, BMO Wealth Management, and BMO Capital Markets segments. The company's personal banking products and services include deposits, mortgages, home lending, consumer credit, small business lending, credit cards, cash management, financial and investment advice, and other banking services; and commercial banking products and services comprise various of financing options and treasury and payment solutions, as well as risk management products.

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Analyst Recommendations for Bank of Montreal (TSE:BMO)

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