Bank of Montreal (TSE:BMO) Receives C$124.69 Consensus Target Price from Analysts

Shares of Bank of Montreal (TSE:BMO) (NYSE:BMO) have received a consensus rating of “Hold” from the thirteen ratings firms that are covering the firm, Marketbeat.com reports. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is C$124.42.

A number of brokerages have issued reports on BMO. TD Securities lifted their target price on shares of Bank of Montreal from C$114.00 to C$131.00 in a research note on Friday, November 15th. Scotiabank downgraded Bank of Montreal from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from C$123.00 to C$112.00 in a research note on Wednesday, August 28th. Desjardins reduced their price target on Bank of Montreal from C$125.00 to C$120.00 and set a “hold” rating for the company in a report on Wednesday, August 28th. CIBC increased their price objective on Bank of Montreal from C$116.00 to C$120.00 in a report on Friday, September 6th. Finally, Royal Bank of Canada reduced their target price 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.

Insider Activity at Bank of Montreal

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

Bank of Montreal Stock Up 0.3 %

Shares of Bank of Montreal stock opened at C$132.68 on Thursday. Bank of Montreal has a 12 month low of C$107.16 and a 12 month high of C$133.95. The stock has a market cap of C$96.78 billion, a PE ratio of 15.27, a price-to-earnings-growth ratio of 0.71 and a beta of 1.16. The business has a fifty day simple moving average of C$125.76 and a 200-day simple moving average of C$121.13.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last released 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). The business had revenue of C$8.19 billion for the quarter, compared to analysts’ expectations of C$8.23 billion. Bank of Montreal had a net margin of 21.20% and a return on equity of 8.49%. Analysts expect that Bank of Montreal will post 9.6514585 EPS for the current fiscal year.

Bank of Montreal Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 26th will be paid a $1.55 dividend. The ex-dividend date of this dividend is Wednesday, October 30th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.67%. Bank of Montreal’s payout ratio is presently 71.35%.

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.