Bank of Montreal (NYSE:BMO) Given Consensus Rating of “Moderate Buy” by Brokerages

Bank of Montreal (NYSE:BMO) (TSE:BMO) has earned an average recommendation of “Moderate Buy” from the twelve ratings firms that are covering the stock, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $122.40.

Several equities research analysts have weighed in on BMO shares. Jefferies Financial Group downgraded Bank of Montreal from a “buy” rating to a “hold” rating in a research report on Tuesday, August 27th. TD Securities downgraded Bank of Montreal from a “buy” rating to a “hold” rating in a report on Tuesday, August 27th. CIBC raised shares of Bank of Montreal from a “neutral” rating to a “sector outperform” rating in a research note on Friday, December 6th. Bank of America lowered shares of Bank of Montreal from a “buy” rating to a “neutral” rating and cut their target price for the company from $134.00 to $117.00 in a report on Wednesday, August 28th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $133.00 price target (up from $106.00) on shares of Bank of Montreal in a report on Friday, December 6th.

Bank of Montreal Stock Down 0.3 %

NYSE:BMO opened at $99.02 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.98 and a quick ratio of 0.98. The company’s fifty day moving average price is $94.24 and its 200-day moving average price is $88.58. Bank of Montreal has a 1-year low of $76.98 and a 1-year high of $104.63. The firm has a market capitalization of $72.25 billion, a P/E ratio of 14.19, a PEG ratio of 1.42 and a beta of 1.10.

Bank of Montreal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Thursday, January 30th will be issued a dividend of $1.1329 per share. This represents a $4.53 annualized dividend and a yield of 4.58%. This is an increase from Bank of Montreal’s previous quarterly dividend of $1.12. The ex-dividend date of this dividend is Thursday, January 30th. Bank of Montreal’s dividend payout ratio (DPR) is presently 67.34%.

Institutional Investors Weigh In On Bank of Montreal

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

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.