Bank Of Montreal (NYSE:BMO) Stock Has Consensus Target Price of $244.00

Shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) have received a consensus rating of “Hold” from the thirteen research firms that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $244.00.

BMO has been the topic of a number of recent research reports. Scotiabank reaffirmed an “outperform” rating on shares of Bank Of Montreal in a research note on Wednesday, August 26th. Barclays reaffirmed an “underweight” rating on shares of Bank Of Montreal in a report on Friday, August 21st. Keefe, Bruyette & Woods started coverage on shares of Bank Of Montreal in a research report on Friday, August 21st. They set an “outperform” rating for the company. Weiss Ratings downgraded Bank Of Montreal from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, October 14th. Finally, Royal Bank Of Canada restated a “sector perform” rating on shares of Bank Of Montreal in a research report on Thursday, August 27th.

Bank Of Montreal Stock Performance

Bank Of Montreal stock opened at $169.12 on Wednesday. The company has a market cap of $117.55 billion, a PE ratio of 16.40, a PEG ratio of 1.02 and a beta of 0.95. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.10. Bank Of Montreal has a 1 year low of $119.84 and a 1 year high of $187.22. The company’s 50-day moving average is $171.00 and its two-hundred day moving average is $167.65.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last issued its quarterly earnings results on Tuesday, August 25th. The bank reported $2.84 EPS for the quarter, topping the consensus estimate of $2.71 by $0.13. The company had revenue of $7.10 billion during the quarter, compared to analysts’ expectations of $6.94 billion. Bank Of Montreal had a net margin of 11.72% and a return on equity of 13.60%. Bank Of Montreal’s revenue was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.23 EPS. Equities analysts anticipate that Bank Of Montreal will post 10.65 earnings per share for the current year.

Bank Of Montreal Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 26th. Investors of record on Friday, October 30th will be issued a C$1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Friday, October 30th. Bank Of Montreal’s dividend payout ratio is currently 54.29%.

Hedge Funds Weigh In On Bank Of Montreal

Several hedge funds have recently added to or reduced their stakes in BMO. Bank of Nova Scotia bought a new position in shares of Bank Of Montreal during the second quarter worth $920,002,000. Tacita Capital Inc acquired a new position in shares of Bank Of Montreal in the 2nd quarter valued at $1,518,000. Andra AP fonden acquired a new position in shares of Bank Of Montreal in the 1st quarter valued at $3,979,000. Deutsche Bank AG bought a new stake in shares of Bank Of Montreal in the 2nd quarter valued at $235,791,000. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Bank Of Montreal in the 2nd quarter valued at $10,555,000. Institutional investors and hedge funds own 45.82% of the company’s stock.

About Bank Of Montreal

Bank of Montreal, operating under the BMO Financial Group brand, is a diversified financial services company headquartered in Toronto, Canada. Founded in 1817, it is one of Canada’s oldest banks and serves individual, business, institutional and government customers.

BMO provides personal banking products such as deposit accounts, mortgages, consumer loans, credit cards and investment services. Its commercial banking operations offer lending, treasury management and other financial solutions to small and medium-sized businesses and larger corporate clients.

Through its wealth management business, BMO provides investment management, financial planning, private banking and brokerage services.