Bank of Montreal (TSE:BMO) Given New C$143.00 Price Target at Canaccord Genuity Group

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its target price boosted by Canaccord Genuity Group from C$125.00 to C$143.00 in a report published on Tuesday,BayStreet.CA reports.

Other equities research analysts have also recently issued research reports about the company. CIBC raised their price objective on Bank of Montreal from C$116.00 to C$120.00 in a report on Friday, September 6th. Cormark reduced their target price on Bank of Montreal from C$129.00 to C$118.00 in a research report on Wednesday, August 28th. Royal Bank of Canada lowered their price target on Bank of Montreal from C$118.00 to C$106.00 and set a “sector perform” rating for the company in a report on Wednesday, August 28th. Desjardins dropped their price objective on shares of Bank of Montreal from C$125.00 to C$120.00 and set a “hold” rating for the company in a research note on Wednesday, August 28th. Finally, TD Securities raised their target price on shares of Bank of Montreal from C$114.00 to C$131.00 in a research report on Friday, November 15th. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of C$124.69.

Bank of Montreal Stock Performance

TSE BMO opened at C$132.24 on Tuesday. Bank of Montreal has a one year low of C$107.16 and a one year high of C$133.95. The firm has a market cap of C$96.46 billion, a PE ratio of 15.22, a P/E/G ratio of 0.71 and a beta of 1.16. The firm’s fifty day moving average is C$125.36 and its two-hundred day moving average is C$121.08.

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

Bank of Montreal Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 26th will be paid a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 4.69%. The ex-dividend date of this dividend is Wednesday, October 30th. Bank of Montreal’s dividend payout ratio (DPR) is currently 71.35%.

Insider Buying and Selling

In other Bank of Montreal news, Senior Officer Steven Lloyd Tennyson sold 7,908 shares of Bank of Montreal stock in a transaction on Thursday, September 5th. The shares were 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 Bank of Montreal stock in a transaction on 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.

About Bank of Montreal

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.