Bank of Montreal (TSE:BMO) Given Average Recommendation of "Hold" by Analysts

Bank of Montreal (TSE:BMO - Get Free Report) NYSE: BMO has been assigned a consensus recommendation of "Hold" from the thirteen research firms that are currently covering the stock, MarketBeat reports. Eight analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is C$120.77.

Several research analysts recently issued reports on the stock. CIBC increased their price target on shares of Bank of Montreal from C$116.00 to C$120.00 in a research note on Friday, September 6th. National Bankshares decreased their price target on shares of Bank of Montreal from C$131.00 to C$127.00 and set an "outperform" rating for the company in a research note on Wednesday, August 28th. TD Securities lowered shares of Bank of Montreal from a "buy" rating to a "hold" rating and reduced their price objective for the company from C$130.00 to C$114.00 in a research note on Wednesday, August 28th. Cormark reduced their price objective on shares of Bank of Montreal from C$129.00 to C$118.00 in a research note on Wednesday, August 28th. Finally, Canaccord Genuity Group reduced their price objective on shares of Bank of Montreal from C$135.00 to C$130.00 and set a "buy" rating for the company in a research note on Wednesday, August 28th.

Insider Transactions at Bank of Montreal

In other news, Senior Officer David Robert Casper sold 12,819 shares of Bank of Montreal stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of C$121.85, for a total value of C$1,562,007.97. In related news, Senior Officer Steven Lloyd Tennyson sold 7,908 shares of the firm's stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of C$112.16, for a total value of C$886,977.10. Also, Senior Officer David Robert Casper sold 12,819 shares of the firm's stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of C$121.85, for a total transaction of C$1,562,007.97. Company insiders own 0.03% of the company's stock.

Bank of Montreal Stock Down 0.3 %

Shares of TSE:BMO traded down C$0.39 on Friday, hitting C$128.95. The company had a trading volume of 3,617,289 shares, compared to its average volume of 2,824,535. The firm's 50-day simple moving average is C$119.71 and its two-hundred day simple moving average is C$120.82. Bank of Montreal has a 1 year low of C$102.67 and a 1 year high of C$133.95. The firm has a market capitalization of C$94.06 billion, a price-to-earnings ratio of 14.84, a P/E/G ratio of 0.71 and a beta of 1.16.

Bank of Montreal (TSE:BMO - Get Free Report) NYSE: BMO last issued its quarterly earnings results on Tuesday, August 27th. The bank reported C$2.64 earnings per share (EPS) for the quarter, missing the consensus estimate of C$2.72 by C($0.08). The business had revenue of C$8.19 billion during the quarter, compared to the consensus estimate of C$8.23 billion. Bank of Montreal had a return on equity of 8.49% and a net margin of 21.20%. Equities research analysts anticipate that Bank of Montreal will post 9.6514585 EPS for the current year.

Bank of Montreal Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 26th will be paid a $1.55 dividend. The ex-dividend date of this dividend is Wednesday, October 30th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.81%. Bank of Montreal's dividend payout ratio is presently 71.35%.

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.