Bank of Montreal (TSE:BMO) Given Consensus Recommendation of “Buy” by Analysts

Shares of Bank of Montreal (TSE:BMO) (NYSE:BMO) have been assigned an average rating of “Buy” from the thirteen brokerages that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is C$134.00.

Several research firms have recently issued reports on BMO. Bank of America lifted their target price on shares of Bank of Montreal from C$125.00 to C$142.00 and gave the company a “buy” rating in a report on Wednesday, May 19th. Credit Suisse Group boosted their target price on Bank of Montreal to C$138.00 and gave the stock an “outperform” rating in a report on Monday, June 7th. CIBC raised their price target on Bank of Montreal from C$136.00 to C$138.00 and gave the company an “outperform” rating in a report on Wednesday, June 23rd. National Bank Financial upped their price target on shares of Bank of Montreal to C$139.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 15th. Finally, Scotiabank raised their price objective on shares of Bank of Montreal from C$137.00 to C$138.00 in a research note on Thursday, May 27th.

Bank of Montreal stock traded down C$0.53 on Thursday, hitting C$123.59. 1,216,704 shares of the stock traded hands, compared to its average volume of 2,477,131. Bank of Montreal has a 1 year low of C$72.44 and a 1 year high of C$130.40. The stock has a market capitalization of C$80.00 billion and a price-to-earnings ratio of 13.62. The firm has a fifty day moving average of C$125.99.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last issued its quarterly earnings results on Wednesday, May 26th. The bank reported C$3.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$2.58 by C$0.55. The business had revenue of C$6.08 billion for the quarter. On average, sell-side analysts predict that Bank of Montreal will post 11.8599999 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 26th. Stockholders of record on Thursday, August 26th will be issued a dividend of $1.06 per share. The ex-dividend date is Friday, July 30th. This represents a $4.24 annualized dividend and a dividend yield of 3.43%. Bank of Montreal’s payout ratio is 46.54%.

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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Analyst Recommendations for Bank of Montreal (TSE:BMO)

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