Bank of Montreal (TSE:BMO) Receives C$257.36 Consensus Target Price from Analysts

Shares of Bank of Montreal (TSE:BMO) (NYSE:BMO) have received an average recommendation of “Hold” from the thirteen analysts that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is C$256.57.

Several research analysts have recently commented on the company. Canadian Imperial Bank of Commerce reduced their price target on Bank of Montreal from C$272.00 to C$261.00 and set a “neutral” rating on the stock in a report on Thursday. Bank of America upped their price objective on shares of Bank of Montreal from C$259.00 to C$262.00 in a report on Wednesday, August 26th. National Bank Financial set a C$278.00 price target on shares of Bank of Montreal and gave the company a “sector perform” rating in a research report on Monday, August 24th. Desjardins set a C$260.00 price objective on Bank of Montreal and gave the company a “hold” rating in a report on Wednesday. Finally, Jefferies Financial Group raised their target price on Bank of Montreal from C$213.00 to C$225.00 and gave the stock a “hold” rating in a research note on Thursday, August 13th.

More Bank of Montreal News

Here are the key news stories impacting Bank of Montreal this week:

• Positive Sentiment: Share buyback receives regulatory approval: Bank of Montreal secured approval for a normal-course issuer bid. The program could support earnings per share, provide demand for the stock and signal management’s confidence in the bank’s valuation. Bank of Montreal Secures Regulatory Clearance for Normal Course Issuer Bid
• Positive Sentiment: New covered-bond issuance supports funding: BMO issued €750 million of floating-rate covered bonds maturing in 2029. The transaction diversifies the bank’s funding sources and reinforces access to European debt markets, although it also adds funding obligations. Bank of Montreal Issues €750 Million Floating Rate Covered Bonds Due 2029
• Neutral Sentiment: Analysts remain cautiously constructive: Desjardins assigned BMO a C$260 price target, while CIBC cut its target from C$272 to C$261 and retained a “neutral” rating. The targets imply some upside but point to limited conviction in a near-term rally. Desjardins price target for Bank of Montreal CIBC price target update
• Negative Sentiment: Insider sale weighs on sentiment: Senior officer Deland Kamanga sold 9,064 shares for approximately C$2.15 million at an average price of C$237.65. Although the sale may reflect personal financial planning, insider selling can create modest short-term pressure. Bank of Montreal insider share sale

Insider Transactions at Bank of Montreal

In other news, Director Tayfun Tuzun sold 20,300 shares of the business’s stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of C$236.69, for a total value of C$4,804,807.00. Also, insider Deland Kamanga sold 9,064 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of C$237.65, for a total transaction of C$2,154,059.60. In the last ninety days, insiders sold 50,516 shares of company stock worth $12,040,908. 0.03% of the stock is currently owned by company insiders.

Bank of Montreal Trading Down 0.3%

BMO stock opened at C$242.76 on Wednesday. Bank of Montreal has a 12 month low of C$168.92 and a 12 month high of C$259.20. The company has a market cap of C$169.24 billion, a price-to-earnings ratio of 19.78, a PEG ratio of 0.71 and a beta of 1.22. The firm has a 50-day moving average of C$249.05 and a two-hundred day moving average of C$222.72.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last announced its quarterly earnings data on Tuesday, August 25th. The bank reported C$3.96 EPS for the quarter. The firm had revenue of C$9.96 billion for the quarter. Bank of Montreal had a return on equity of 10.58% and a net margin of 11.75%. As a group, equities analysts forecast that Bank of Montreal will post 9.6514585 earnings per share for the current year.

Bank of Montreal Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 26th were issued a dividend of $1.71 per share. The ex-dividend date was Thursday, July 30th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.8%. This is a boost from Bank of Montreal’s previous quarterly dividend of $1.67. Bank of Montreal’s dividend payout ratio (DPR) is currently 54.44%.

Bank of Montreal Company Profile

Bank of Montreal is a diversified financial-services provider based in North America, operating four business segments: Canadian personal and commercial banking, U.S. P&C banking, wealth management, and capital markets.