Scotiabank Increases Bank of Montreal (TSE:BMO) Price Target to C$147.00

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its target price boosted by Scotiabank from C$112.00 to C$147.00 in a research report sent to investors on Monday morning,BayStreet.CA reports.

Other equities research analysts have also issued research reports about the company. Desjardins lowered their target price on 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. Canaccord Genuity Group lifted their price objective on shares of Bank of Montreal from C$125.00 to C$143.00 in a research note on Tuesday, November 19th. TD Securities upped 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. Cormark dropped their price target on shares of Bank of Montreal from C$129.00 to C$118.00 in a research note on Wednesday, August 28th. Finally, CIBC boosted their price objective on shares of Bank of Montreal from C$116.00 to C$120.00 in a report on Friday, September 6th. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of C$127.33.

Bank of Montreal Stock Up 0.7 %

BMO opened at C$133.64 on Monday. Bank of Montreal has a 52-week low of C$107.16 and a 52-week high of C$134.16. The company has a 50 day moving average of C$126.18 and a two-hundred day moving average of C$121.19. The company has a market cap of C$97.48 billion, a P/E ratio of 15.38, a P/E/G ratio of 0.71 and a beta of 1.16.

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

Bank of Montreal Announces Dividend

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 issued a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 4.64%. The ex-dividend date is Wednesday, October 30th. Bank of Montreal’s dividend payout ratio is presently 71.35%.

Insider Activity

In other Bank of Montreal news, 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. Also, Senior Officer David Robert Casper sold 12,819 shares of the 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. 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.