Bank of Montreal (TSE:BMO) Given Average Recommendation of “Hold” by Brokerages

Bank of Montreal (TSE:BMO) (NYSE:BMO) has been given an average recommendation of “Hold” by the eleven research firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is C$226.46.

Several research analysts have issued reports on the stock. Royal Bank Of Canada lifted their target price on shares of Bank of Montreal from C$205.00 to C$230.00 and gave the stock a “sector perform” rating in a report on Thursday, May 28th. Desjardins upped their target price on Bank of Montreal from C$212.00 to C$230.00 and gave the company a “hold” rating in a research note on Thursday, May 28th. Barclays lifted their target price on Bank of Montreal from C$199.00 to C$203.00 and gave the company an “underweight” rating in a research report on Thursday, May 28th. Raymond James Financial upped their price objective on Bank of Montreal from C$227.00 to C$233.50 and gave the stock an “outperform” rating in a research note on Thursday, May 28th. Finally, Canaccord Genuity Group upped their price objective on shares of Bank of Montreal from C$242.00 to C$265.00 and gave the company a “buy” rating in a report on Tuesday, July 7th.

Bank of Montreal Trading Down 0.2%

Shares of Bank of Montreal stock opened at C$252.99 on Tuesday. The firm has a market capitalization of C$178.34 billion, a PE ratio of 19.43, a price-to-earnings-growth ratio of 0.71 and a beta of 1.22. Bank of Montreal has a 12 month low of C$151.06 and a 12 month high of C$254.70. The business’s 50-day moving average price is C$231.19 and its 200-day moving average price is C$205.97.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last announced its quarterly earnings results on Wednesday, May 27th. The bank reported C$3.67 earnings per share for the quarter. Bank of Montreal had a net margin of 12.63% and a return on equity of 11.25%. The business had revenue of C$9.57 billion during the quarter. As a group, analysts predict that Bank of Montreal will post 9.6514585 earnings per share for the current fiscal year.

Bank of Montreal Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 26th will be paid a dividend of $1.71 per share. This is a boost from Bank of Montreal’s previous quarterly dividend of $1.67. The ex-dividend date of this dividend is Thursday, July 30th. This represents a $6.84 annualized dividend and a yield of 2.7%. Bank of Montreal’s dividend payout ratio is presently 50.69%.

Insider Activity

In other Bank of Montreal news, insider Sharon Marie Haward-Laird sold 4,519 shares of Bank of Montreal stock in a transaction dated Monday, June 1st. The shares were sold at an average price of C$225.85, for a total transaction of C$1,020,616.15. Also, Director William Darryl White sold 27,167 shares of Bank of Montreal stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of C$225.74, for a total transaction of C$6,132,678.58. Following the completion of the transaction, the director owned 87,166 shares of the company’s stock, valued at C$19,676,852.84. This trade represents a 23.76% decrease in their position. In the last 90 days, insiders have sold 45,004 shares of company stock valued at $10,339,904. 0.03% of the stock is currently owned by company insiders.

About Bank of Montreal

Bank of Montreal is a diversified financial-services provider based in North America, operating four business segments: Canadian personal and commercial banking, U.S. P&C banking, wealth management, and capital markets.