Analysts Set Bank of Montreal (TSE:BMO) Target Price at C$120.77

Bank of Montreal (TSE:BMO) (NYSE:BMO) has earned an average recommendation of “Hold” from the thirteen research firms that are currently covering the firm, MarketBeat Ratings reports. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is C$120.77.

BMO has been the subject of a number of research reports. Canaccord Genuity Group decreased their price target on Bank of Montreal from C$135.00 to C$130.00 and set a “buy” rating for the company in a research note on Wednesday, August 28th. Cormark lowered their price target on Bank of Montreal from C$129.00 to C$118.00 in a report on Wednesday, August 28th. TD Securities cut Bank of Montreal from a “buy” rating to a “hold” rating and reduced their price objective for the stock from C$130.00 to C$114.00 in a research note on Wednesday, August 28th. UBS Group set a C$122.00 target price on shares of Bank of Montreal and gave the company a “neutral” rating in a research note on Tuesday, July 2nd. Finally, Scotiabank downgraded shares of Bank of Montreal from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from C$123.00 to C$112.00 in a research report on Wednesday, August 28th.

Bank of Montreal Stock Down 0.7 %

Shares of TSE BMO opened at C$122.92 on Wednesday. The stock has a market cap of C$89.66 billion, a PE ratio of 14.21, a price-to-earnings-growth ratio of 0.54 and a beta of 1.15. Bank of Montreal has a 52-week low of C$102.67 and a 52-week high of C$133.95. The business has a 50-day moving average price of C$116.78 and a 200 day moving average price of C$121.13.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last posted its quarterly earnings data 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). Bank of Montreal had a net margin of 21.20% and a return on equity of 8.49%. The business had revenue of C$8.19 billion during the quarter, compared to analyst estimates of C$8.23 billion. Sell-side analysts anticipate that Bank of Montreal will post 11.0223814 earnings per share for the current year.

Bank of Montreal Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 26th will be paid a dividend of $1.55 per share. The ex-dividend date of this dividend is Wednesday, October 30th. This represents a $6.20 annualized dividend and a yield of 5.04%. Bank of Montreal’s payout ratio is 71.35%.

Insider Transactions 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. In other news, Senior Officer David Robert Casper sold 12,819 shares of Bank of Montreal stock in a transaction that occurred on 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 stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of C$112.16, for a total transaction of C$886,977.10. Company insiders own 0.03% of the company’s stock.

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.