Bank of Montreal (NYSE:BMO) Receives Consensus Rating of 'Moderate Buy' from Brokerages

Shares of Bank of Montreal (NYSE:BMO - Get Free Report) and TSE:BMO have received a consensus rating of "Moderate Buy" from the twelve brokerages currently covering the firm, according to MarketBeat Ratings. Out of these analysts, seven have rated the stock with a hold recommendation, while four have issued buy recommendations, and one has given a strong buy rating. The average one-year price target set by these brokerages stands at $122.40.

Many equities analysts have recently shared their insights on Bank of Montreal shares. On December 6th, CIBC upgraded the shares from a "neutral" to a "sector outperform" rating in their report. Conversely, Bank of America downgraded Bank of Montreal from a "buy" to a "neutral" rating in a report published on August 28th and adjusted their price target from $134.00 to $117.00. Barclays also revised their target price for Bank of Montreal from $132.00 to $126.00 while maintaining an "overweight" rating. Jefferies Financial Group lowered their rating from "buy" to "hold" on August 27th, and StockNews.com recently elevated the shares from a "sell" to a "hold" recommendation as of December 9th.

Current Stock Performance

As of Friday, shares of BMO opened at $99.02. The stock has a fifty-day moving average price of $94.24 and a 200-day moving average price of $88.58. The company possesses a current ratio of 0.98, a quick ratio also at 0.98, and maintains a low debt-to-equity ratio of 0.11. With a market capitalization around $72.25 billion, the shares have a price-to-earnings (P/E) ratio of 14.19 and a P/E to growth (P/E/G) ratio of 1.42, along with a beta of 1.10. Over the past year, Bank of Montreal's stock has reached a low of $76.98 and a high of $104.63.

Dividend Increase Announced

Bank of Montreal recently revealed a quarterly dividend, scheduled for payment on Wednesday, February 26th. Shareholders who are on record as of Thursday, January 30th, will receive a dividend of $1.1329 per share. The ex-dividend date is also set for January 30th. This new dividend represents an annualized rate of $4.53 and results in a dividend yield of 4.58%, marking an increase from the previous quarterly dividend of $1.12. The current payout ratio for Bank of Montreal is 67.34%.

Institutional Investors' Actions

Recent changes in positions by large investors reflect growing interest in Bank of Montreal. For instance, Strategic Investment Solutions Inc. in Illinois acquired a new stake in the bank during the second quarter, valued at approximately $34,000. Similarly, Rothschild Investment LLC established a new position worth $40,000 in the same timeframe. Wilmington Savings Fund Society FSB also purchased a new stake during the third quarter valued at $45,000. GHP Investment Advisors Inc. increased their holdings by 244.1% in the third quarter, now owning 554 shares valued at $50,000 after acquiring an additional 393 shares. Lastly, Blue Trust Inc. raised their position in Bank of Montreal by 207.8% in the same quarter, now holding 668 shares worth $56,000. Notably, institutional investors and hedge funds collectively own 45.82% of the stock.

About Bank of Montreal

Bank of Montreal offers a range of diversified financial services primarily in North America. The company operates through various segments, including Canadian P&C, U.S. P&C, BMO Wealth Management, and BMO Capital Markets. Its personal banking services encompass deposits, mortgages, home lending, consumer credit, small business loans, credit cards, cash management, financial advice, and other banking services. Commercial banking products include various financing options, treasury and payment solutions, along with risk management products.

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