Bank of Montreal (TSE:BMO – Free Report) (NYSE:BMO) had its price objective hoisted by Raymond James Financial from C$233.50 to C$268.00 in a research note released on Wednesday morning,BayStreet.CA reports. Raymond James Financial currently has an outperform rating on the bank’s stock.
Several other analysts also recently weighed in on BMO. Jefferies Financial Group boosted their price target on Bank of Montreal from C$195.00 to C$196.00 in a research note on Wednesday, May 20th. Barclays raised their price objective on Bank of Montreal from C$199.00 to C$203.00 and gave the stock an “underweight” rating in a research note on Thursday, May 28th. TD lifted their target price on Bank of Montreal from C$239.00 to C$263.00 and gave the stock a “buy” rating in a report on Wednesday. Scotiabank upped their target price 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. Finally, Canadian Imperial Bank of Commerce increased their price target on shares of Bank of Montreal from C$226.00 to C$244.00 and gave the stock an “outperformer” rating in a report on Thursday, May 28th. Six investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Bank of Montreal has an average rating of “Hold” and an average price target of C$239.75.
Get Our Latest Report on Bank of Montreal
Bank of Montreal Trading Up 0.5%
Bank of Montreal (TSE:BMO – Get Free Report) (NYSE:BMO) last released its earnings results on Wednesday, May 27th. The bank reported C$3.67 earnings per share (EPS) for the quarter. The firm had revenue of C$9.57 billion for the quarter. Bank of Montreal had a return on equity of 11.25% and a net margin of 12.63%. Equities analysts forecast that Bank of Montreal will post 9.6514585 EPS for the current year.
Bank of Montreal Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 26th will be given a dividend of $1.71 per share. The ex-dividend date of this dividend is Thursday, July 30th. This represents a $6.84 annualized dividend and a yield of 2.7%. This is an increase from Bank of Montreal’s previous quarterly dividend of $1.67. Bank of Montreal’s payout ratio is 50.69%.
Insiders Place Their Bets
In other news, insider Sharon Marie Haward-Laird sold 4,519 shares of the business’s stock in a transaction dated 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 dated 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 completion of the sale, the director owned 87,166 shares in the company, valued at C$19,676,852.84. The trade was a 23.76% decrease in their position. In the last three months, insiders have sold 45,004 shares of company stock valued at $10,339,904. Company 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.
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