Bank of Montreal (TSE:BMO) Price Target Raised to C$263.00

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its price objective lifted by TD from C$239.00 to C$263.00 in a research note published on Wednesday morning,BayStreet.CA reports. The firm currently has a buy rating on the bank’s stock.

Several other research analysts have also commented on BMO. Canadian Imperial Bank of Commerce lifted their price objective on shares of Bank of Montreal from C$226.00 to C$244.00 and gave the stock an “outperformer” rating in a research note on Thursday, May 28th. Royal Bank Of Canada increased their target price on shares of Bank of Montreal from C$205.00 to C$230.00 and gave the company a “sector perform” rating in a research note on Thursday, May 28th. Desjardins raised their target price on shares of Bank of Montreal from C$230.00 to C$260.00 and gave the stock a “hold” rating in a report on Wednesday, August 5th. Jefferies Financial Group lifted their price target on shares of Bank of Montreal from C$195.00 to C$196.00 in a research note on Wednesday, May 20th. Finally, Raymond James Financial upped their price target on shares of Bank of Montreal from C$227.00 to C$233.50 and gave the company an “outperform” rating in a report on Thursday, May 28th. Six equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of C$239.75.

Bank of Montreal Stock Performance

Shares of Bank of Montreal stock opened at C$257.88 on Wednesday. The stock has a market cap of C$180.62 billion, a price-to-earnings ratio of 19.81, a price-to-earnings-growth ratio of 0.71 and a beta of 1.22. The stock has a 50 day moving average price of C$248.29 and a 200-day moving average price of C$217.45. Bank of Montreal has a one year low of C$155.58 and a one year high of C$258.21.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last released its earnings results on Wednesday, May 27th. The bank reported C$3.67 earnings per share for the quarter. Bank of Montreal had a return on equity of 11.25% and a net margin of 12.63%.The firm had revenue of C$9.57 billion for the quarter. 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 firm also recently disclosed 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%. The ex-dividend date is Thursday, July 30th. This is an increase from Bank of Montreal’s previous quarterly dividend of $1.67. Bank of Montreal’s dividend payout ratio (DPR) is presently 50.69%.

Insider Buying and Selling at Bank of Montreal

In other Bank of Montreal news, insider Sharon Marie Haward-Laird sold 4,519 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of C$225.85, for a total value of C$1,020,616.15. Also, insider Mona Elizabeth Malone sold 5,000 shares of the stock in a transaction on 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 sale, the insider owned 1,758 shares in the company, valued at approximately C$430,094.70. The trade was a 73.99% decrease in their position. Insiders have sold 45,004 shares of company stock valued at $10,339,904 in the last quarter. 0.03% of the stock is owned by insiders.

About Bank of Montreal

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.