Shares of Bank of Montreal (TSE:BMO) (NYSE:BMO) have received an average rating of “Buy” from the twelve brokerages that are currently covering the firm, Marketbeat reports. Five research analysts have rated the stock with a buy recommendation. The average 12 month price target among analysts that have covered the stock in the last year is C$113.75.
Several research analysts have recently weighed in on the company. Canaccord Genuity upgraded Bank of Montreal from a “hold” rating to a “buy” rating and boosted their target price for the stock from C$111.00 to C$118.00 in a report on Wednesday, August 29th. CIBC boosted their target price on Bank of Montreal from C$109.00 to C$111.00 in a report on Wednesday, August 29th. Barclays lowered their target price on Bank of Montreal from C$110.00 to C$105.00 in a report on Friday, November 16th. National Bank Financial boosted their target price on Bank of Montreal from C$108.00 to C$115.00 and gave the stock an “outperform” rating in a report on Wednesday, August 29th. Finally, Eight Capital boosted their target price on Bank of Montreal from C$119.00 to C$124.00 in a report on Wednesday, August 29th.
In related news, insider Joanna Michelle Rotenberg sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of C$107.17, for a total value of C$535,850.00. Also, insider Jean-Michel Ares sold 57,356 shares of the company’s stock in a transaction that occurred on Friday, September 21st. The shares were sold at an average price of C$108.46, for a total value of C$6,220,831.76. Insiders sold 102,140 shares of company stock worth $11,006,409 over the last quarter.
Shares of Bank of Montreal stock traded down C$0.21 on Monday, hitting C$97.48. The company’s stock had a trading volume of 1,485,217 shares, compared to its average volume of 1,351,780. Bank of Montreal has a 1 year low of C$93.60 and a 1 year high of C$109.00.
Bank of Montreal (TSE:BMO) (NYSE:BMO) last posted its quarterly earnings data on Tuesday, August 28th. The bank reported C$2.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of C$2.27 by C$0.09. The firm had revenue of C$5.82 billion during the quarter, compared to analyst estimates of C$5.71 billion. Analysts forecast that Bank of Montreal will post 9.64999910602424 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 27th. Investors of record on Thursday, November 1st will be issued a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date is Wednesday, October 31st. Bank of Montreal’s dividend payout ratio is presently 50.28%.
About Bank of Montreal
Bank of Montreal provides diversified financial services primarily in North America. It operates through three groups: Personal and Commercial Banking, Wealth Management, and BMO Capital Markets. The company's personal banking products and services include checking and savings accounts, credit cards, mortgages, creditor insurance products, and financial and investment advice services; and commercial banking products and services comprise business deposit accounts, commercial credit cards, business loans and commercial mortgages, cash management solutions, foreign exchange, and specialized banking programs for small business and commercial banking customers.
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