Bank of Montreal (TSE:BMO – Free Report) (NYSE:BMO) had its price objective lifted by Jefferies Financial Group from C$213.00 to C$225.00 in a research note issued to investors on Thursday morning,BayStreet.CA reports. They currently have a hold rating on the bank’s stock.
Other equities analysts have also issued reports about the company. National Bank Financial upped their target price on Bank of Montreal from C$236.00 to C$278.00 and gave the company a “sector perform” rating in a research report on Thursday. Canaccord Genuity Group raised their price target on shares of Bank of Montreal from C$242.00 to C$265.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. Raymond James Financial lifted their price target on shares of Bank of Montreal from C$233.50 to C$268.00 and gave the stock an “outperform” rating in a research note on Wednesday. Canadian Imperial Bank of Commerce upped their price target on shares of 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. Finally, Royal Bank Of Canada increased their price objective 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. Six analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of C$239.75.
Read Our Latest Report on Bank of Montreal
Bank of Montreal Stock Performance
Bank of Montreal (TSE:BMO – Get Free Report) (NYSE:BMO) last issued its quarterly earnings data 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 during the quarter. On average, equities research analysts predict that Bank of Montreal will post 9.6514585 EPS for the current year.
Bank of Montreal Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 26th will be given a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Thursday, July 30th. This is a positive change from Bank of Montreal’s previous quarterly dividend of $1.67. Bank of Montreal’s payout ratio is 50.69%.
Insider Activity
In related news, insider Sharon Marie Haward-Laird sold 4,519 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of C$225.85, for a total transaction of C$1,020,616.15. Also, insider Mona Elizabeth Malone sold 4,517 shares of the firm’s stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of C$244.61, for a total value of C$1,104,903.37. Following the transaction, the insider owned 1,758 shares in the company, valued at C$430,024.38. This trade represents a 71.98% decrease in their ownership of the stock. In the last ninety days, insiders sold 45,004 shares of company stock worth $10,339,904. 0.03% of the stock is currently owned by insiders.
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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