Bank of Montreal (TSE:BMO) Receives C$228.96 Average Price Target from Brokerages

Bank of Montreal (TSE:BMOGet Free Report) (NYSE:BMO) has received an average recommendation of “Hold” from the eleven analysts that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is C$228.96.

A number of analysts have recently weighed in on BMO shares. Barclays increased their price objective on Bank of Montreal from C$199.00 to C$203.00 and gave the company an “underweight” rating in a research note on Thursday, May 28th. Desjardins lifted 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 research note on Wednesday, August 5th. Jefferies Financial Group upped their price target on shares of Bank of Montreal from C$195.00 to C$196.00 in a report on Wednesday, May 20th. Scotiabank increased their price target on shares of 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, National Bank Financial raised their price target on shares of Bank of Montreal from C$223.00 to C$236.00 and gave the stock a “sector perform” rating in a report on Thursday, May 28th.

Check Out Our Latest Stock Analysis on BMO

Bank of Montreal Trading Up 0.1%

TSE BMO opened at C$253.47 on Friday. Bank of Montreal has a 1-year low of C$155.32 and a 1-year high of C$258.21. The stock has a 50-day moving average of C$246.10 and a 200-day moving average of C$215.78. The firm has a market cap of C$177.53 billion, a PE ratio of 19.47, a price-to-earnings-growth ratio of 0.71 and a beta of 1.22.

Bank of Montreal (TSE:BMOGet Free Report) (NYSE:BMO) last posted its quarterly earnings results on Wednesday, May 27th. The bank reported C$3.67 earnings per share (EPS) for the quarter. The business 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%. As a group, equities research analysts forecast that Bank of Montreal will post 9.6514585 earnings per share for the current fiscal 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 issued a dividend of $1.71 per share. This is an increase from Bank of Montreal’s previous quarterly dividend of $1.67. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Thursday, July 30th. Bank of Montreal’s dividend payout ratio (DPR) is currently 50.69%.

Insider Buying and Selling

In other news, insider Mona Elizabeth Malone sold 4,517 shares of Bank of Montreal stock in a transaction that occurred 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 sale, the insider directly owned 1,758 shares in the company, valued at approximately C$430,024.38. This trade represents a 71.98% decrease in their position. Also, insider Sharon Marie Haward-Laird sold 4,519 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of C$225.85, for a total value of C$1,020,616.15. Insiders have sold 45,004 shares of company stock valued at $10,339,904 over the last ninety days. 0.03% of the stock is owned by insiders.

Bank of Montreal Company Profile

(Get Free Report)

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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Analyst Recommendations for Bank of Montreal (TSE:BMO)

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