Brokerages Set Bank of Montreal (TSE:BMO) PT at C$224.54

Shares of Bank of Montreal (TSE:BMO) (NYSE:BMO) have been given an average rating of “Hold” by the eleven ratings firms that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is C$224.54.

A number of research firms recently weighed in on BMO. Canadian Imperial Bank of Commerce raised their price target on shares of Bank of Montreal from C$226.00 to C$244.00 and gave the company an “outperformer” rating in a research report on Thursday, May 28th. Jefferies Financial Group lifted their target price on shares of Bank of Montreal from C$195.00 to C$196.00 in a research report on Wednesday, May 20th. Barclays lifted their target price on shares of Bank of Montreal from C$199.00 to C$203.00 and gave the company an “underweight” rating in a research report on Thursday, May 28th. TD boosted their price objective on shares of Bank of Montreal from C$234.00 to C$239.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Finally, National Bank Financial boosted their price objective on shares of Bank of Montreal from C$223.00 to C$236.00 and gave the company a “sector perform” rating in a research report on Thursday, May 28th.

Bank of Montreal Stock Up 0.9%

Shares of Bank of Montreal stock opened at C$247.86 on Friday. The company has a 50-day simple moving average of C$220.80 and a two-hundred day simple moving average of C$199.94. The stock has a market capitalization of C$174.72 billion, a price-to-earnings ratio of 19.04, a price-to-earnings-growth ratio of 0.71 and a beta of 1.26. Bank of Montreal has a twelve month low of C$146.40 and a twelve month high of C$248.69.

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

Bank of Montreal Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Tuesday, May 26th were issued a $1.67 dividend. The ex-dividend date of this dividend was Wednesday, April 29th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.7%. Bank of Montreal’s dividend payout ratio (DPR) is 50.69%.

Insider Activity at Bank of Montreal

In other news, Director William Darryl White sold 27,167 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of C$225.74, for a total value of C$6,132,678.58. Following the sale, the director directly owned 87,166 shares in the company, valued at approximately C$19,676,852.84. This trade represents a 23.76% decrease in their position. Also, insider Sharon Marie Haward-Laird sold 4,519 shares of Bank of Montreal stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of C$225.85, for a total transaction of C$1,020,616.15. Over the last ninety days, insiders sold 45,004 shares of company stock valued at $10,339,904. 0.03% of the stock is owned by corporate insiders.

About Bank of Montreal

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.