Bank of Montreal (TSE:BMO) Receives C$131.96 Consensus PT from Brokerages

Shares of Bank of Montreal (TSE:BMO) (NYSE:BMO) have earned an average recommendation of “Moderate Buy” from the thirteen analysts that are currently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is C$131.96.

BMO has been the topic of a number of analyst reports. Jefferies Financial Group raised their target price on shares of Bank of Montreal from C$136.00 to C$142.00 in a research report on Monday, May 13th. CIBC decreased their price target on shares of Bank of Montreal from C$125.00 to C$120.00 and set a “neutral” rating on the stock in a report on Friday, March 8th. Desjardins lowered shares of Bank of Montreal from a “buy” rating to a “hold” rating and decreased their price target for the company from C$133.00 to C$129.00 in a report on Thursday, May 30th. National Bankshares decreased their price target on shares of Bank of Montreal from C$143.00 to C$136.00 and set an “outperform” rating on the stock in a report on Thursday, May 30th. Finally, Cormark decreased their price target on shares of Bank of Montreal from C$141.00 to C$133.00 in a report on Thursday, May 30th.

Bank of Montreal Price Performance

Shares of BMO opened at C$115.67 on Monday. The firm has a 50 day simple moving average of C$123.27 and a 200-day simple moving average of C$126.17. Bank of Montreal has a 1-year low of C$102.67 and a 1-year high of C$133.95. The stock has a market cap of C$83.91 billion, a price-to-earnings ratio of 15.87, a price-to-earnings-growth ratio of 0.54 and a beta of 1.19.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last issued 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 return on equity of 7.28% and a net margin of 17.71%. The business had revenue of C$7.97 billion for the quarter, compared to analysts’ expectations of C$8.06 billion. On average, equities analysts expect that Bank of Montreal will post 11.2532189 earnings per share 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 issued a $1.55 dividend. The ex-dividend date of this dividend is Tuesday, July 30th. This represents a $6.20 dividend on an annualized basis and a yield of 5.36%. This is a positive change from Bank of Montreal’s previous quarterly dividend of $1.51. Bank of Montreal’s payout ratio is currently 82.85%.

About Bank of Montreal

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.