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

Shares of Bank of Montreal (TSE:BMO) (NYSE:BMO) have been assigned a consensus recommendation of “Hold” from the thirteen research firms that are presently covering the stock, Marketbeat Ratings reports. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is C$124.42.

Several research analysts have issued reports on BMO shares. Cormark reduced their price objective on Bank of Montreal from C$129.00 to C$118.00 in a report on Wednesday, August 28th. Royal Bank of Canada dropped their target price on Bank of Montreal from C$118.00 to C$106.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 28th. Canaccord Genuity Group raised their price target on Bank of Montreal from C$125.00 to C$143.00 in a report on Tuesday, November 19th. Desjardins dropped their price objective 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. Finally, CIBC upped their target price on shares of Bank of Montreal from C$116.00 to C$120.00 in a research report on Friday, September 6th.

Insider Buying and Selling at Bank of Montreal

In related news, Senior Officer Steven Lloyd Tennyson sold 7,908 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were 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 company’s stock in a transaction 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.

Bank of Montreal Price Performance

Shares of BMO opened at C$132.68 on Thursday. The business’s 50 day simple moving average is C$125.76 and its 200-day simple moving average is C$121.13. Bank of Montreal has a one year low of C$107.16 and a one year high of C$133.95. The company has a market capitalization of C$96.78 billion, a P/E ratio of 15.27, a PEG ratio of 0.71 and a beta of 1.16.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last issued its quarterly earnings results on Tuesday, August 27th. The bank reported C$2.64 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of C$8.19 billion for the quarter, compared to analyst estimates of C$8.23 billion. On average, sell-side analysts anticipate that Bank of Montreal will post 9.6514585 EPS for the current fiscal year.

Bank of Montreal Announces Dividend

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