Bank of Montreal (NYSE:BMO) Given Consensus Recommendation of “Hold” by Brokerages

Bank of Montreal (NYSE:BMO) (TSE:BMO) has been assigned a consensus rating of “Hold” from the eleven research firms that are covering the company, MarketBeat.com reports. Seven analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $122.40.

A number of analysts have weighed in on BMO shares. Jefferies Financial Group cut shares of Bank of Montreal from a “buy” rating to a “hold” rating in a report on Tuesday, August 27th. Cibc World Mkts upgraded shares of Bank of Montreal from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 6th. CIBC upgraded Bank of Montreal from a “neutral” rating to a “sector outperform” rating in a research note on Friday, December 6th. StockNews.com cut Bank of Montreal from a “hold” rating to a “sell” rating in a research report on Tuesday, December 17th. Finally, Barclays reduced their price objective on Bank of Montreal from $132.00 to $126.00 and set an “overweight” rating for the company in a research report on Wednesday, August 28th.

Bank of Montreal Price Performance

Shares of NYSE BMO opened at $96.54 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $70.44 billion, a price-to-earnings ratio of 13.83, a price-to-earnings-growth ratio of 1.42 and a beta of 1.10. Bank of Montreal has a twelve month low of $76.98 and a twelve month high of $104.63. The business has a 50 day simple moving average of $94.86 and a 200-day simple moving average of $88.89.

Bank of Montreal Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Thursday, January 30th will be paid a $1.1329 dividend. This is a boost from Bank of Montreal’s previous quarterly dividend of $1.12. The ex-dividend date is Thursday, January 30th. This represents a $4.53 annualized dividend and a dividend yield of 4.69%. Bank of Montreal’s dividend payout ratio is presently 67.34%.

Institutional Investors Weigh In On Bank of Montreal

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

Bank of Montreal Company Profile

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.