Bank of Montreal (TSE:BMO) Receives C$257.36 Average Price Target from Brokerages

Shares of Bank of Montreal (TSE:BMO) (NYSE:BMO) have been given an average recommendation of “Hold” by the thirteen brokerages that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is C$256.57.

Several research analysts have recently weighed in on the stock. National Bank Financial set a C$278.00 price target on shares of Bank of Montreal and gave the stock a “sector perform” rating in a report on Monday, August 24th. Royal Bank Of Canada lifted their price objective on Bank of Montreal from C$230.00 to C$241.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 26th. Barclays boosted their target price on Bank of Montreal from C$203.00 to C$240.00 in a research report on Friday, August 21st. Raymond James Financial upped their target price on Bank of Montreal from C$233.50 to C$268.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 12th. Finally, Desjardins set a C$260.00 target price on Bank of Montreal and gave the stock a “hold” rating in a research note on Wednesday, September 2nd.

Bank of Montreal News Roundup

Here are the key news stories impacting Bank of Montreal this week:

• Positive Sentiment: Share buyback receives regulatory approval: Bank of Montreal secured approval for a normal-course issuer bid. The program could support earnings per share, provide demand for the stock and signal management’s confidence in the bank’s valuation. Bank of Montreal Secures Regulatory Clearance for Normal Course Issuer Bid
• Positive Sentiment: New covered-bond issuance supports funding: BMO issued €750 million of floating-rate covered bonds maturing in 2029. The transaction diversifies the bank’s funding sources and reinforces access to European debt markets, although it also adds funding obligations. Bank of Montreal Issues €750 Million Floating Rate Covered Bonds Due 2029
• Neutral Sentiment: Analysts remain cautiously constructive: Desjardins assigned BMO a C$260 price target, while CIBC cut its target from C$272 to C$261 and retained a “neutral” rating. The targets imply some upside but point to limited conviction in a near-term rally. Desjardins price target for Bank of Montreal CIBC price target update
• Negative Sentiment: Insider sale weighs on sentiment: Senior officer Deland Kamanga sold 9,064 shares for approximately C$2.15 million at an average price of C$237.65. Although the sale may reflect personal financial planning, insider selling can create modest short-term pressure. Bank of Montreal insider share sale

Bank of Montreal Stock Performance

Shares of TSE:BMO opened at C$242.76 on Wednesday. The company has a 50 day moving average of C$249.05 and a 200 day moving average of C$222.94. The stock has a market cap of C$168.74 billion, a P/E ratio of 19.78, a P/E/G ratio of 0.71 and a beta of 1.12. Bank of Montreal has a 12 month low of C$168.92 and a 12 month high of C$259.20.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last posted its earnings results on Tuesday, August 25th. The bank reported C$3.96 earnings per share (EPS) for the quarter. Bank of Montreal had a net margin of 11.75% and a return on equity of 10.58%. The business had revenue of C$9.96 billion for the quarter. On average, equities analysts forecast that Bank of Montreal will post 9.6514585 earnings per share for the current fiscal year.

Bank of Montreal Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 26th were issued a dividend of $1.71 per share. The ex-dividend date of this dividend was Thursday, July 30th. This is a positive change from Bank of Montreal’s previous quarterly dividend of $1.67. This represents a $6.84 annualized dividend and a dividend yield of 2.8%. Bank of Montreal’s payout ratio is presently 54.44%.

Insider Buying and Selling

In related news, insider Deland Kamanga sold 9,064 shares of the company’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of C$237.65, for a total value of C$2,154,059.60. Also, insider Mona Elizabeth Malone sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of C$244.65, for a total transaction of C$1,223,250.00. Following the completion of the sale, the insider directly owned 1,758 shares in the company, valued at C$430,094.70. This represents a 73.99% decrease in their ownership of the stock. Over the last three months, insiders have sold 50,516 shares of company stock worth $12,040,908. Insiders own 0.03% of the company’s stock.

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.