CIBC Issues Positive Forecast for Bank of Montreal (TSE:BMO) Stock Price

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its target price lifted by CIBC from C$120.00 to C$134.00 in a research note released on Tuesday,BayStreet.CA reports.

A number of other research firms have also issued reports on BMO. 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 research note on Wednesday, August 28th. Canaccord Genuity Group lifted their price target 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 price objective on shares of Bank of Montreal from C$114.00 to C$131.00 in a research report on Friday, November 15th. Cormark lowered their target price on Bank of Montreal from C$129.00 to C$118.00 in a research note on Wednesday, August 28th. Finally, Bank of America cut Bank of Montreal from a “buy” rating to a “neutral” rating and cut their price target for the stock from C$134.00 to C$117.00 in a research note on Wednesday, August 28th. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of C$128.50.

Bank of Montreal Price Performance

TSE:BMO opened at C$132.83 on Tuesday. The business’s 50-day moving average is C$126.52 and its two-hundred day moving average is C$121.25. The firm has a market capitalization of C$96.89 billion, a PE ratio of 15.29, a price-to-earnings-growth 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$134.16.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last announced its earnings results on Tuesday, August 27th. The bank reported C$2.64 EPS for the quarter, missing the consensus estimate of C$2.72 by C($0.08). The company 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%. Equities analysts anticipate that Bank of Montreal will post 9.6514585 EPS for the current year.

Bank of Montreal Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Tuesday, November 26th were issued a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 4.67%. The ex-dividend date of this dividend was Wednesday, October 30th. Bank of Montreal’s dividend payout ratio is currently 71.35%.

Insider Buying and Selling at Bank of Montreal

In other news, Senior Officer David Robert Casper sold 12,819 shares of the firm’s stock in a transaction dated 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. Also, Senior Officer Steven Lloyd Tennyson sold 7,908 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of C$112.16, for a total transaction of C$886,977.10. 0.03% of the stock is currently owned by insiders.

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.