Bank of Montreal (TSE:BMO) Given New C$131.00 Price Target at TD Securities

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

Several other equities research analysts have also recently weighed in on the company. Scotiabank cut Bank of Montreal from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from C$123.00 to C$112.00 in a research note on Wednesday, August 28th. National Bankshares decreased their target price on Bank of Montreal from C$131.00 to C$127.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 28th. Cormark dropped their target price on shares of Bank of Montreal from C$129.00 to C$118.00 in a report on Wednesday, August 28th. Jefferies Financial Group decreased their price target on shares of Bank of Montreal from C$141.00 to C$124.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Finally, Royal Bank of Canada dropped their price objective on shares of Bank of Montreal from C$118.00 to C$106.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 28th. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of C$122.08.

Bank of Montreal Stock Performance

BMO opened at C$131.32 on Friday. Bank of Montreal has a 52-week low of C$107.16 and a 52-week high of C$133.95. The firm has a market cap of C$95.79 billion, a P/E ratio of 15.11, a price-to-earnings-growth ratio of 0.71 and a beta of 1.16. The business’s fifty day moving average is C$123.80 and its 200-day moving average is C$120.85.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last announced its quarterly earnings data on Tuesday, August 27th. The bank reported C$2.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$2.72 by C($0.08). The firm had revenue of C$8.19 billion for the quarter, compared to analyst estimates of C$8.23 billion. Bank of Montreal had a return on equity of 8.49% and a net margin of 21.20%. On average, research analysts predict that Bank of Montreal will post 9.6514585 earnings per share for the current fiscal year.

Bank of Montreal Dividend Announcement

The company also recently announced 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. The ex-dividend date of this dividend is Wednesday, October 30th. This represents a $6.20 annualized dividend and a yield of 4.72%. Bank of Montreal’s payout ratio is 71.35%.

Insider Activity

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

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.