Somewhat Positive Press Coverage Extremely Likely to Impact Bank of Montreal (BMO) Share Price
Headlines about Bank of Montreal (TSE:BMO) (NYSE:BMO) have been trending somewhat positive recently, InfoTrie reports. InfoTrie ranks the sentiment of media coverage by analyzing more than six thousand blog and news sources in real time. The firm ranks coverage of publicly-traded companies on a scale of negative five to five, with scores nearest to five being the most favorable. Bank of Montreal earned a news sentiment score of 0.88 on their scale. InfoTrie also gave press coverage about the bank an news buzz score of 10 out of 10, meaning that recent media coverage is extremely likely to have an effect on the company’s share price in the near term.
Here are some of the headlines that may have effected Bank of Montreal’s analysis:
- Q4 2019 Earnings Estimate for Bank of Montreal Issued By Desjardins (BMO) (americanbankingnews.com)
- Bank of Montreal (BMO) to Post Q1 2019 Earnings of $2.27 Per Share, National Bank Financial Forecasts (americanbankingnews.com)
- Bank of Montreal (BMO) Forecasted to Earn Q3 2019 Earnings of $2.55 Per Share (americanbankingnews.com)
- Bank of Montreal commercial lending rises – Crain’s Chicago Business (chicagobusiness.com)
- Cormark Downgrades Bank of Montreal (BMO:CN) (BMO) to Market Perform – StreetInsider.com (streetinsider.com)
A number of equities research analysts have weighed in on the stock. National Bank Financial boosted their target price on shares of Bank of Montreal from C$108.00 to C$115.00 and gave the stock an “outperform” rating in a report on Wednesday, August 29th. Royal Bank of Canada boosted their target price on shares of Bank of Montreal from C$124.00 to C$126.00 and gave the stock an “outperform” rating in a report on Wednesday, August 29th. Canaccord Genuity raised shares of Bank of Montreal from a “hold” rating to a “buy” rating and boosted their target price for the stock from C$111.00 to C$118.00 in a report on Wednesday, August 29th. CIBC boosted their target price on shares of Bank of Montreal from C$109.00 to C$111.00 in a report on Wednesday, August 29th. Finally, Eight Capital boosted their target price on shares of Bank of Montreal from C$119.00 to C$124.00 in a report on Wednesday, August 29th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of C$112.27.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 26th. Stockholders of record on Friday, February 1st will be given a $1.00 dividend. The ex-dividend date is Thursday, January 31st. This represents a $4.00 dividend on an annualized basis and a dividend yield of 4.31%. This is an increase from Bank of Montreal’s previous quarterly dividend of $0.96. Bank of Montreal’s payout ratio is 50.28%.
In other news, insider Jean-Michel Ares sold 57,356 shares of the business’s stock in a transaction that occurred on Friday, September 21st. The shares were sold at an average price of C$108.46, for a total value of C$6,220,831.76.
Bank of Montreal Company Profile
Bank of Montreal provides diversified financial services primarily in North America. It operates through three groups: Personal and Commercial Banking, Wealth Management, and BMO Capital Markets. The company's personal banking products and services include checking and savings accounts, credit cards, mortgages, creditor insurance products, and financial and investment advice services; and commercial banking products and services comprise business deposit accounts, commercial credit cards, business loans and commercial mortgages, cash management solutions, foreign exchange, and specialized banking programs for small business and commercial banking customers.
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