Bank of Montreal (TSE:BMO) Price Target Raised to C$143.00

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

A number of other brokerages have also commented on BMO. Jefferies Financial Group dropped their target price on Bank of Montreal from C$141.00 to C$124.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Desjardins dropped their price objective on shares of Bank of Montreal from C$125.00 to C$120.00 and set a “hold” rating on the stock in a report on Wednesday, August 28th. Royal Bank of Canada cut their price objective on shares of Bank of Montreal from C$118.00 to C$106.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 28th. Cormark decreased their target price on shares of Bank of Montreal from C$129.00 to C$118.00 in a research report on Wednesday, August 28th. Finally, National Bankshares lowered their price target on shares of Bank of Montreal from C$131.00 to C$127.00 and set an “outperform” rating on the stock in a report on Wednesday, August 28th. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Bank of Montreal has a consensus rating of “Hold” and a consensus target price of C$124.69.

Bank of Montreal Trading Up 0.6 %

TSE:BMO opened at C$132.24 on Tuesday. The company has a market capitalization of C$96.46 billion, a P/E ratio of 15.22, a PEG ratio of 0.71 and a beta of 1.16. Bank of Montreal has a 12 month low of C$107.16 and a 12 month high of C$133.95. The firm has a fifty day simple moving average of C$125.36 and a 200-day simple moving average of C$121.08.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last issued its quarterly earnings results on Tuesday, August 27th. The bank reported C$2.64 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%. Equities analysts forecast that Bank of Montreal will post 9.6514585 EPS for the current year.

Bank of Montreal Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 26th will be issued a $1.55 dividend. 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 payout ratio is currently 71.35%.

Insider Activity

In other Bank of Montreal news, Senior Officer Steven Lloyd Tennyson sold 7,908 shares of the 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 transaction of C$886,977.10. Also, Senior Officer David Robert Casper sold 12,819 shares of the firm’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 transaction 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.