Bank of Montreal (TSE:BMO) Receives Average Rating of “Hold” from Analysts

Shares of Bank of Montreal (TSE:BMO) (NYSE:BMO) have been given a consensus rating of “Hold” by the thirteen research firms that are covering the firm, MarketBeat.com reports. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is C$120.77.

Several equities research analysts have weighed in on the company. Cormark lowered their price target on Bank of Montreal from C$129.00 to C$118.00 in a report on Wednesday, August 28th. Scotiabank downgraded Bank of Montreal from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from C$123.00 to C$112.00 in a report on Wednesday, August 28th. Canaccord Genuity Group lowered their price target on Bank of Montreal from C$135.00 to C$130.00 and set a “buy” rating for the company in a report on Wednesday, August 28th. UBS Group set a C$122.00 price objective on Bank of Montreal and gave the stock a “neutral” rating in a research note on Tuesday, July 2nd. Finally, Jefferies Financial Group reduced their price objective on Bank of Montreal from C$141.00 to C$124.00 and set a “buy” rating for the company in a research note on Monday, August 12th.

Bank of Montreal Price Performance

Shares of BMO stock opened at C$124.30 on Wednesday. Bank of Montreal has a 1-year low of C$102.67 and a 1-year high of C$133.95. The stock’s 50-day moving average is C$116.71 and its 200 day moving average is C$121.15. The company has a market cap of C$90.67 billion, a P/E ratio of 14.30, a PEG ratio of 0.54 and a beta of 1.15.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last issued its quarterly earnings results on Tuesday, August 27th. The bank reported C$2.64 earnings per share for the quarter, missing the consensus estimate of C$2.72 by C($0.08). The business had revenue of C$8.19 billion during the quarter, compared to analyst estimates of C$8.23 billion. Bank of Montreal had a return on equity of 8.49% and a net margin of 21.20%. On average, analysts anticipate that Bank of Montreal will post 11.0223814 EPS for the current year.

Bank of Montreal Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Tuesday, November 26th will be given a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 4.99%. The ex-dividend date of this dividend is Wednesday, October 30th. Bank of Montreal’s dividend payout ratio is currently 71.35%.

Insider Activity at Bank of Montreal

In related news, Senior Officer Steven Lloyd Tennyson sold 7,908 shares of Bank of Montreal stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of C$112.16, for a total transaction of C$886,977.10. In other news, Senior Officer Steven Lloyd Tennyson sold 7,908 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of C$112.16, for a total value of C$886,977.10. Also, Senior Officer David Robert Casper sold 12,819 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of C$121.85, for a total value of C$1,562,007.97. 0.03% of the stock is owned by company insiders.

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.