Bank of Montreal (TSE:BMO) Price Target Raised to C$278.00

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its price target lifted by National Bank Financial from C$236.00 to C$278.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The firm currently has a sector perform rating on the bank’s stock.

BMO has been the topic of a number of other reports. Jefferies Financial Group boosted their target price on Bank of Montreal from C$195.00 to C$196.00 in a research report on Wednesday, May 20th. Barclays upped their target price on Bank of Montreal from C$199.00 to C$203.00 and gave the company an “underweight” rating in a report on Thursday, May 28th. Scotiabank raised their price target on Bank of Montreal from C$234.00 to C$239.00 and gave the company a “sector outperform” rating in a research report on Tuesday, June 16th. Canadian Imperial Bank of Commerce lifted their price target on 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. Finally, Royal Bank Of Canada boosted their price objective on shares of 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. Six analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of C$239.75.

Bank of Montreal Trading Up 0.5%

BMO stock opened at C$257.88 on Thursday. The firm has a 50 day moving average of C$248.29 and a 200-day moving average of C$217.45. Bank of Montreal has a 12-month low of C$155.58 and a 12-month high of C$258.21. The company has a market cap of C$180.62 billion, a price-to-earnings ratio of 19.81, a PEG ratio of 0.71 and a beta of 1.22.

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

Bank of Montreal Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Wednesday, August 26th will be paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend 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 is currently 50.69%.

Insider Buying and Selling at Bank of Montreal

In other news, insider Sharon Marie Haward-Laird sold 4,519 shares of the business’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, Director William Darryl White sold 27,167 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of C$225.74, for a total value of C$6,132,678.58. Following the completion of the sale, the director owned 87,166 shares in the company, valued at C$19,676,852.84. This represents a 23.76% decrease in their ownership of the stock. In the last 90 days, insiders have sold 45,004 shares of company stock worth $10,339,904. 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.