Bank of Montreal (TSE:BMO – Get Free Report) (NYSE:BMO) has been given an average recommendation of “Hold” by the eleven research firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and six have given a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is C$226.46.
Several equities research analysts have issued reports on the company. Canadian Imperial Bank of Commerce raised their price target 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. Jefferies Financial Group upped their price objective on shares of Bank of Montreal from C$195.00 to C$196.00 in a report on Wednesday, May 20th. Raymond James Financial increased their price objective on shares of Bank of Montreal from C$227.00 to C$233.50 and gave the company an “outperform” rating in a research report on Thursday, May 28th. Canaccord Genuity Group raised their target price on shares of Bank of Montreal from C$242.00 to C$265.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. Finally, National Bank Financial raised their target price on shares of Bank of Montreal from C$223.00 to C$236.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 28th.
Get Our Latest Report on Bank of Montreal
Bank of Montreal Stock Down 1.9%
Bank of Montreal (TSE:BMO – Get Free Report) (NYSE:BMO) last issued its earnings results on Wednesday, May 27th. The bank reported C$3.67 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%. Equities research analysts expect 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 issued a $1.71 dividend. 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 currently 50.69%.
Insider Buying and Selling at Bank of Montreal
In other Bank of Montreal news, insider Mona Elizabeth Malone sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of C$244.65, for a total transaction of C$1,223,250.00. Following the completion of the sale, the insider directly owned 1,758 shares in the company, valued at C$430,094.70. This trade represents a 73.99% decrease in their ownership of the stock. Also, Director William Darryl White sold 27,167 shares of the business’s 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 sale, the director owned 87,166 shares of the company’s stock, valued at approximately C$19,676,852.84. This represents a 23.76% decrease in their position. Insiders have sold a total of 45,004 shares of company stock valued at $10,339,904 in the last three months. 0.03% of the stock is currently owned by company 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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