Bank of Montreal (TSE:BMO) Price Target Raised to C$240.00

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its target price boosted by Barclays from C$203.00 to C$240.00 in a report published on Friday morning,BayStreet.CA reports.

Several other analysts have also issued reports on BMO. TD upped their target price on Bank of Montreal from C$239.00 to C$263.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Desjardins lifted their price target on shares of Bank of Montreal from C$230.00 to C$260.00 and gave the stock a “hold” rating in a research note on Wednesday, August 5th. Jefferies Financial Group boosted their price objective on shares of Bank of Montreal from C$213.00 to C$225.00 and gave the stock a “hold” rating in a report on Thursday, August 13th. National Bank Financial upped their price objective on shares of Bank of Montreal from C$236.00 to C$278.00 and gave the company a “sector perform” rating in a research note on Thursday, August 13th. Finally, Canadian Imperial Bank of Commerce lowered shares of Bank of Montreal from an “outperformer” rating to a “hold” rating and increased their target price for the company from C$244.00 to C$272.00 in a report on Wednesday, August 19th. Six research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of C$249.00.

Bank of Montreal Price Performance

Shares of BMO opened at C$240.25 on Friday. The business has a 50-day moving average of C$249.80 and a 200-day moving average of C$219.71. Bank of Montreal has a 1 year low of C$156.65 and a 1 year high of C$259.20. The company has a market capitalization of C$168.28 billion, a price-to-earnings ratio of 18.45, a price-to-earnings-growth ratio of 0.71 and a beta of 1.22.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last posted its quarterly earnings data on Wednesday, May 27th. The bank reported C$3.67 earnings per share (EPS) for the quarter. The firm had revenue of C$9.57 billion during the quarter. Bank of Montreal had a return on equity of 11.25% and a net margin of 12.63%. As a group, sell-side analysts anticipate that Bank of Montreal will post 9.6514585 EPS for the current year.

Bank of Montreal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 26th will be paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.8%. This is a boost from Bank of Montreal’s previous quarterly dividend of $1.67. The ex-dividend date of this dividend is Thursday, July 30th. Bank of Montreal’s payout ratio is currently 50.69%.

Insider Activity

In related news, insider Sharon Marie Haward-Laird sold 4,519 shares of Bank of Montreal stock in a transaction on Monday, June 1st. The shares were sold at an average price of C$225.85, for a total value of C$1,020,616.15. Also, insider Mona Elizabeth Malone sold 4,517 shares of the company’s stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of C$244.61, for a total transaction of C$1,104,903.37. Following the sale, the insider owned 1,758 shares of the company’s stock, valued at C$430,024.38. This represents a 71.98% decrease in their ownership of the stock. Over the last 90 days, insiders sold 45,004 shares of company stock valued at $10,339,904. 0.03% of the stock is currently owned by company insiders.

Bank of Montreal Company Profile

Bank of Montreal is a diversified financial-services provider based in North America, operating four business segments: Canadian personal and commercial banking, U.S. P&C banking, wealth management, and capital markets.