Bank of Montreal (TSE:BMO) Price Target Raised to C$260.00

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its price target boosted by Desjardins from C$230.00 to C$260.00 in a research note published on Wednesday,BayStreet.CA reports. They currently have a hold rating on the bank’s stock.

BMO has been the topic of a number of other research reports. Raymond James Financial increased their price objective on shares of Bank of Montreal from C$227.00 to C$233.50 and gave the stock an “outperform” rating in a research note on Thursday, May 28th. TD increased their price target on Bank of Montreal from C$234.00 to C$239.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Royal Bank Of Canada increased their price target on Bank of Montreal from C$205.00 to C$230.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 28th. Barclays lifted their price objective on Bank of Montreal from C$199.00 to C$203.00 and gave the company an “underweight” rating in a research note on Thursday, May 28th. Finally, Canadian Imperial Bank of Commerce boosted their price objective on Bank of Montreal from C$226.00 to C$244.00 and gave the company an “outperformer” rating in a report on Thursday, May 28th. Six analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of C$228.96.

Bank of Montreal Trading Down 0.1%

TSE BMO opened at C$253.24 on Wednesday. The firm has a market capitalization of C$177.37 billion, a P/E ratio of 19.45, a P/E/G ratio of 0.71 and a beta of 1.22. The firm’s fifty day simple moving average is C$245.54 and its two-hundred day simple moving average is C$215.12. Bank of Montreal has a 12-month low of C$154.71 and a 12-month high of C$258.21.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last issued its earnings results on Wednesday, May 27th. The bank reported C$3.67 earnings per share (EPS) for the quarter. The company had revenue of C$9.57 billion during the quarter. Bank of Montreal had a return on equity of 11.25% and a net margin of 12.63%. As a group, sell-side analysts predict that Bank of Montreal will post 9.6514585 earnings per share for the current fiscal year.

Bank of Montreal Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Wednesday, August 26th will be issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 2.7%. This is a boost from Bank of Montreal’s previous quarterly dividend of $1.67. The ex-dividend date of this dividend is Thursday, July 30th. Bank of Montreal’s payout ratio is currently 50.69%.

Insider Activity at Bank of Montreal

In related news, insider Mona Elizabeth Malone sold 5,000 shares of the company’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of C$244.65, for a total value of C$1,223,250.00. Following the completion of the transaction, the insider owned 1,758 shares of the company’s stock, valued at approximately C$430,094.70. This represents a 73.99% decrease in their position. Also, Director William Darryl White sold 27,167 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of C$225.74, for a total value of C$6,132,678.58. Following the transaction, the director owned 87,166 shares in the company, valued at C$19,676,852.84. This represents a 23.76% decrease in their position. Insiders sold a total of 45,004 shares of company stock worth $10,339,904 in the last 90 days. Corporate insiders own 0.03% of the company’s stock.

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.