Barclays Raises Bank of Montreal (NYSE:BMO) Price Target to C$126.00

Bank of Montreal (NYSE:BMO) (TSE:BMO) had its target price increased by Barclays from C$125.00 to C$126.00 in a research report report published on Tuesday, The Fly reports. The firm currently has an underweight rating on the bank’s stock.

Other analysts also recently issued research reports about the company. Canaccord Genuity increased their target price on Bank of Montreal from $106.50 to $112.50 and gave the company a buy rating in a research note on Tuesday, March 2nd. National Bank Financial upgraded Bank of Montreal from a sector perform rating to an outperform rating in a research report on Monday, March 8th. Cannonball Research reiterated a buy rating on shares of Bank of Montreal in a research report on Wednesday, April 21st. Bank of America upgraded Bank of Montreal from a neutral rating to a buy rating in a research report on Tuesday, March 2nd. Finally, BMO Capital Markets raised their price objective on Bank of Montreal from C$128.00 to C$136.00 and gave the stock an outperform rating in a research report on Thursday, May 27th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the stock. Bank of Montreal currently has a consensus rating of Buy and a consensus price target of $113.07.

Shares of NYSE:BMO opened at $104.95 on Tuesday. The firm’s 50 day simple moving average is $97.43. Bank of Montreal has a twelve month low of $51.43 and a twelve month high of $106.88. The company has a market cap of $67.93 billion, a P/E ratio of 15.06, a price-to-earnings-growth ratio of 0.74 and a beta of 1.32. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.00 and a current ratio of 1.00.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last announced its earnings results on Tuesday, May 25th. The bank reported $3.13 earnings per share for the quarter, beating the consensus estimate of $2.18 by $0.95. Bank of Montreal had a return on equity of 14.17% and a net margin of 18.81%. The firm had revenue of $6.08 billion during the quarter, compared to the consensus estimate of $6.26 billion. During the same quarter in the prior year, the company earned $1.04 EPS. On average, research analysts predict that Bank of Montreal will post 9.67 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 26th. Investors of record on Tuesday, August 3rd will be issued a dividend of $0.8782 per share. This represents a $3.51 dividend on an annualized basis and a yield of 3.35%. This is a boost from Bank of Montreal’s previous quarterly dividend of $0.84. The ex-dividend date is Monday, August 2nd. Bank of Montreal’s dividend payout ratio (DPR) is currently 58.12%.

A number of hedge funds have recently added to or reduced their stakes in the stock. HighTower Advisors LLC increased its holdings in Bank of Montreal by 0.5% during the 1st quarter. HighTower Advisors LLC now owns 24,075 shares of the bank’s stock valued at $2,147,000 after purchasing an additional 114 shares in the last quarter. Huntington National Bank increased its holdings in Bank of Montreal by 22.2% during the 1st quarter. Huntington National Bank now owns 848 shares of the bank’s stock valued at $76,000 after purchasing an additional 154 shares in the last quarter. Signaturefd LLC increased its holdings in Bank of Montreal by 4.4% during the 1st quarter. Signaturefd LLC now owns 4,313 shares of the bank’s stock valued at $384,000 after purchasing an additional 183 shares in the last quarter. Corient Capital Partners LLC increased its holdings in Bank of Montreal by 5.8% during the 1st quarter. Corient Capital Partners LLC now owns 3,511 shares of the bank’s stock valued at $313,000 after purchasing an additional 193 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its holdings in Bank of Montreal by 10.1% during the 1st quarter. Quadrant Capital Group LLC now owns 2,310 shares of the bank’s stock valued at $206,000 after purchasing an additional 211 shares in the last quarter. 40.90% of the stock is owned by hedge funds and other institutional investors.

Bank of Montreal Company Profile

Bank of Montreal provides diversified financial services primarily in North America. The company's personal banking products and services include checking and savings accounts, credit cards, mortgages, and financial and investment advice services; and commercial banking products and services comprise business deposit accounts, commercial credit cards, business loans and commercial mortgages, cash management solutions, foreign exchange, specialized banking programs, treasury and payment solutions, and risk management products for small business and commercial banking customers.

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