Brokerages Set Bank of Montreal (BMO) PT at $106.54

Shares of Bank of Montreal (TSE:BMO) (NYSE:BMO) have been given a consensus recommendation of “Buy” by the thirteen ratings firms that are presently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is C$106.54.

A number of equities research analysts recently issued reports on BMO shares. Eight Capital boosted their target price on shares of Bank of Montreal from C$101.00 to C$106.00 in a report on Wednesday, December 6th. CSFB boosted their target price on shares of Bank of Montreal from C$102.00 to C$103.00 in a report on Wednesday, December 6th. Canaccord Genuity boosted their target price on shares of Bank of Montreal from C$103.00 to C$105.00 in a report on Wednesday, December 6th. Barclays boosted their target price on shares of Bank of Montreal from C$97.00 to C$98.00 in a report on Wednesday, December 6th. Finally, CIBC boosted their target price on shares of Bank of Montreal from C$100.00 to C$107.00 in a report on Monday, November 13th.

Bank of Montreal (TSE BMO) traded up C$0.56 during trading on Friday, reaching C$98.17. 819,409 shares of the company were exchanged, compared to its average volume of 1,512,044. Bank of Montreal has a 52-week low of C$88.63 and a 52-week high of C$105.55. The stock has a market capitalization of $63,270.00, a P/E ratio of 12.32 and a beta of 0.67.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last released its earnings results on Tuesday, December 5th. The bank reported C$1.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$1.99 by C($0.05). Bank of Montreal had a net margin of 21.70% and a return on equity of 12.00%. The company had revenue of C$5.66 billion during the quarter, compared to analysts’ expectations of C$5.31 billion.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 27th. Shareholders of record on Thursday, February 1st will be paid a dividend of $0.93 per share. This is an increase from Bank of Montreal’s previous quarterly dividend of $0.90. This represents a $3.72 annualized dividend and a yield of 3.79%. The ex-dividend date is Wednesday, January 31st. Bank of Montreal’s payout ratio is currently 44.95%.

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About Bank of Montreal

Bank of Montreal (the Bank) is a financial services provider. The Bank provides a range of personal and commercial banking, wealth management and investment banking products and services. The Bank conducts its business through three operating groups: Personal and Commercial Banking (P&C), Wealth Management and BMO Capital Markets.

Analyst Recommendations for Bank of Montreal (TSE:BMO)

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