Bank of Montreal (NYSE:BMO) Receives $122.40 Average Target Price from Analysts

Bank of Montreal (NYSE:BMO) (TSE:BMO) has received an average rating of “Moderate Buy” from the twelve brokerages that are covering the stock, Marketbeat.com reports. Seven analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $122.40.

Several equities research analysts have recently commented on BMO shares. Royal Bank of Canada restated a “sector perform” rating and set a $133.00 price target (up previously from $106.00) on shares of Bank of Montreal in a research note on Friday, December 6th. CIBC upgraded shares of Bank of Montreal from a “neutral” rating to a “sector outperform” rating in a research report on Friday, December 6th. Scotiabank upgraded shares of Bank of Montreal from a “sector perform” rating to a “sector outperform” rating in a research note on Friday, December 6th. TD Securities lowered shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. Finally, StockNews.com cut shares of Bank of Montreal from a “hold” rating to a “sell” rating in a report on Tuesday.

Bank of Montreal Stock Down 0.4 %

BMO opened at $98.19 on Friday. Bank of Montreal has a 52 week low of $76.98 and a 52 week high of $104.63. The business has a 50 day moving average price of $94.55 and a two-hundred day moving average price of $88.73. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.11. The company has a market cap of $71.65 billion, a PE ratio of 14.07, a P/E/G ratio of 1.42 and a beta of 1.10.

Bank of Montreal Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Thursday, January 30th will be given a dividend of $1.1329 per share. This is a positive change from Bank of Montreal’s previous quarterly dividend of $1.12. This represents a $4.53 annualized dividend and a yield of 4.62%. The ex-dividend date is Thursday, January 30th. Bank of Montreal’s dividend payout ratio is presently 67.34%.

Hedge Funds Weigh In On Bank of Montreal

Several hedge funds and other institutional investors have recently bought and sold shares of BMO. Strategic Investment Solutions Inc. IL purchased a new position in Bank of Montreal during the 2nd quarter valued at about $34,000. Rothschild Investment LLC purchased a new position in shares of Bank of Montreal during the 2nd quarter worth approximately $40,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Bank of Montreal during the 3rd quarter worth approximately $45,000. GHP Investment Advisors Inc. raised its position in shares of Bank of Montreal by 244.1% during the 3rd quarter. GHP Investment Advisors Inc. now owns 554 shares of the bank’s stock worth $50,000 after purchasing an additional 393 shares during the last quarter. Finally, Blue Trust Inc. grew its holdings in Bank of Montreal by 207.8% during the 3rd quarter. Blue Trust Inc. now owns 668 shares of the bank’s stock valued at $56,000 after buying an additional 451 shares during the last quarter. 45.82% of the stock is owned by institutional investors and hedge funds.

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.