Analysts Set Bank of Montreal (NYSE:BMO) Target Price at $119.75

Shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) have earned an average rating of “Hold” from the ten brokerages that are currently covering the firm, MarketBeat Ratings reports. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $119.75.

Several analysts have issued reports on BMO shares. TD Securities lowered Bank of Montreal from a “buy” rating to a “hold” rating in a report on Tuesday, August 27th. Scotiabank cut shares of Bank of Montreal from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the stock from $123.00 to $112.00 in a research note on Wednesday, August 28th. Barclays dropped their price target on shares of 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. Jefferies Financial Group downgraded shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research report on Tuesday, August 27th. Finally, StockNews.com downgraded shares of Bank of Montreal from a “hold” rating to a “sell” rating in a report on Thursday, August 29th.

Bank of Montreal Stock Down 1.2 %

Bank of Montreal stock opened at $94.40 on Wednesday. The stock has a market cap of $68.87 billion, a PE ratio of 14.87, a price-to-earnings-growth ratio of 2.57 and a beta of 1.10. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a fifty day moving average of $92.18 and a 200 day moving average of $88.24. Bank of Montreal has a one year low of $76.98 and a one year high of $100.12.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings data on Tuesday, August 27th. The bank reported $2.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.76 by ($0.12). Bank of Montreal had a return on equity of 11.23% and a net margin of 8.50%. The business had revenue of $8.21 billion during the quarter, compared to analysts’ expectations of $8.25 billion. During the same period in the previous year, the business posted $2.08 EPS. The business’s quarterly revenue was up .2% compared to the same quarter last year. As a group, sell-side analysts predict that Bank of Montreal will post 7.4 EPS for the current year.

Hedge Funds Weigh In On Bank of Montreal

Institutional investors have recently added to or reduced their stakes in the company. UniSuper Management Pty Ltd grew its stake in shares of Bank of Montreal by 96.2% in the 1st quarter. UniSuper Management Pty Ltd now owns 10,200 shares of the bank’s stock worth $996,000 after buying an additional 5,000 shares in the last quarter. Bessemer Group Inc. increased its stake in Bank of Montreal by 1,001.5% during the first quarter. Bessemer Group Inc. now owns 25,180 shares of the bank’s stock worth $2,459,000 after acquiring an additional 22,894 shares during the last quarter. Crewe Advisors LLC bought a new stake in Bank of Montreal during the first quarter worth approximately $70,000. Rodgers Brothers Inc. raised its position in Bank of Montreal by 13.7% during the first quarter. Rodgers Brothers Inc. now owns 12,475 shares of the bank’s stock valued at $1,219,000 after purchasing an additional 1,500 shares during the period. Finally, Anson Funds Management LP bought a new stake in shares of Bank of Montreal in the 1st quarter valued at approximately $2,442,000. Hedge funds and other institutional investors own 45.82% of the company’s stock.

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.