Bank of Montreal (TSE:BMO) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Bank of Montreal (TSE:BMO) (NYSE:BMO) have received a consensus recommendation of “Moderate Buy” from the fourteen brokerages that are currently covering the firm, MarketBeat.com reports. Six investment analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is C$131.33.

BMO has been the topic of several research reports. Royal Bank of Canada decreased their target price on Bank of Montreal from C$118.00 to C$106.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 28th. CIBC raised Bank of Montreal from a “neutral” rating to an “outperform” rating and increased their price target for the company from C$134.00 to C$150.00 in a report on Friday, December 6th. Desjardins cut their price target on Bank of Montreal from C$125.00 to C$120.00 and set a “hold” rating for the company in a report on Wednesday, August 28th. Canaccord Genuity Group increased their price target on Bank of Montreal from C$143.00 to C$148.00 in a report on Friday, December 6th. Finally, National Bankshares increased their price target on Bank of Montreal from C$127.00 to C$148.00 in a report on Wednesday, November 20th.

Insider Transactions at Bank of Montreal

In related news, Senior Officer David Robert Casper sold 12,819 shares of the business’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of C$121.85, for a total value of C$1,562,007.97. Also, Director William Darryl White sold 11,376 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of C$140.79, for a total value of C$1,601,592.91. Insiders own 0.03% of the company’s stock.

Bank of Montreal Price Performance

TSE BMO opened at C$141.00 on Monday. The company has a market cap of C$102.85 billion, a PE ratio of 16.23, a price-to-earnings-growth ratio of 0.71 and a beta of 1.16. The stock’s 50 day simple moving average is C$130.93 and its 200-day simple moving average is C$122.12. Bank of Montreal has a 1-year low of C$109.02 and a 1-year high of C$147.54.

Bank of Montreal Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Thursday, January 30th will be given a dividend of $1.59 per share. This represents a $6.36 dividend on an annualized basis and a dividend yield of 4.51%. This is a boost from Bank of Montreal’s previous quarterly dividend of $1.55. Bank of Montreal’s payout ratio is 71.35%.

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.