Bank of Montreal (TSE:BMO) Price Target Raised to C$131.00

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its target price hoisted by TD Securities from C$114.00 to C$131.00 in a research note released on Friday,BayStreet.CA reports.

Several other equities analysts have also recently commented on the stock. Desjardins reduced their price target on shares of Bank of Montreal from C$125.00 to C$120.00 and set a “hold” rating on the stock in a research report on Wednesday, August 28th. Jefferies Financial Group reduced their price objective on Bank of Montreal from C$141.00 to C$124.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Bank of America cut shares of Bank of Montreal from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from C$134.00 to C$117.00 in a report on Wednesday, August 28th. CIBC boosted their price target on Bank of Montreal from C$116.00 to C$120.00 in a research report on Friday, September 6th. Finally, Cormark cut their target price on Bank of Montreal from C$129.00 to C$118.00 in a research report on Wednesday, August 28th. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of C$122.08.

Bank of Montreal Trading Up 0.0 %

BMO stock opened at C$131.32 on Friday. The company has a market cap of C$95.79 billion, a price-to-earnings ratio of 15.11, a PEG ratio of 0.71 and a beta of 1.16. The firm has a 50 day moving average of C$123.80 and a 200-day moving average of C$120.85. Bank of Montreal has a 12-month low of C$107.16 and a 12-month high of C$133.95.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last released its earnings results on Tuesday, August 27th. The bank reported C$2.64 EPS for the quarter, missing the consensus estimate of C$2.72 by C($0.08). The business had revenue of C$8.19 billion during the quarter, compared to analyst estimates of C$8.23 billion. Bank of Montreal had a net margin of 21.20% and a return on equity of 8.49%. Sell-side analysts forecast that Bank of Montreal will post 9.6514585 earnings per share for the current fiscal year.

Bank of Montreal Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Tuesday, November 26th will be issued a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 4.72%. The ex-dividend date is Wednesday, October 30th. Bank of Montreal’s dividend payout ratio is 71.35%.

Insider Activity

In other Bank of Montreal news, Senior Officer David Robert Casper sold 12,819 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of C$121.85, for a total value of C$1,562,007.97. Also, Senior Officer Steven Lloyd Tennyson sold 7,908 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of C$112.16, for a total transaction of C$886,977.10. 0.03% of the stock is currently owned by company insiders.

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.