Brokerages Set Bank of Montreal (NYSE:BMO) Price Target at $122.40

Shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) have earned an average recommendation of “Moderate Buy” from the eleven analysts that are currently covering the company, Marketbeat reports. Six investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $128.00.

BMO has been the subject of a number of research reports. Scotiabank raised shares of Bank of Montreal from a “sector perform” rating to a “sector outperform” rating in a report on Friday, December 6th. StockNews.com lowered shares of Bank of Montreal from a “hold” rating to a “sell” rating in a research report on Tuesday, December 17th. Cibc World Mkts upgraded shares of Bank of Montreal from a “hold” rating to a “strong-buy” rating in a report on Friday, December 6th. Royal Bank of Canada raised Bank of Montreal from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $133.00 to $161.00 in a report on Wednesday, January 8th. Finally, CIBC raised Bank of Montreal from a “neutral” rating to a “sector outperform” rating in a report on Friday, December 6th.

Bank of Montreal Trading Up 1.4 %

Shares of Bank of Montreal stock opened at $99.15 on Thursday. The firm’s 50-day moving average price is $96.39 and its two-hundred day moving average price is $90.44. The company has a market capitalization of $72.35 billion, a price-to-earnings ratio of 14.20, a PEG ratio of 1.42 and a beta of 1.09. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.11. Bank of Montreal has a 12-month low of $76.98 and a 12-month high of $104.63.

Bank of Montreal Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Thursday, January 30th will be paid a $1.1329 dividend. This is an increase from Bank of Montreal’s previous quarterly dividend of $1.12. This represents a $4.53 annualized dividend and a yield of 4.57%. The ex-dividend date of this dividend is Thursday, January 30th. Bank of Montreal’s payout ratio is 63.18%.

Institutional Trading of Bank of Montreal

Several large investors have recently made changes to their positions in the company. HB Wealth Management LLC acquired a new stake in Bank of Montreal in the fourth quarter valued at approximately $285,000. Retirement Wealth Solutions LLC acquired a new stake in Bank of Montreal in the 4th quarter valued at $106,000. Merit Financial Group LLC increased its stake in Bank of Montreal by 28.2% during the 4th quarter. Merit Financial Group LLC now owns 4,020 shares of the bank’s stock valued at $390,000 after purchasing an additional 884 shares in the last quarter. Avanza Fonder AB acquired a new position in Bank of Montreal during the fourth quarter worth $4,108,000. Finally, Procyon Advisors LLC bought a new position in shares of Bank of Montreal in the fourth quarter valued at $325,000. 45.82% of the stock is currently owned by institutional investors and hedge funds.

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.