Bank of Montreal (TSE:BMO) Price Target Raised to C$134.00

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its target price upped by CIBC from C$120.00 to C$134.00 in a research report sent to investors on Tuesday morning,BayStreet.CA reports.

Several other equities analysts also recently commented on the stock. Canaccord Genuity Group increased their price objective on shares of Bank of Montreal from C$125.00 to C$143.00 in a research note on Tuesday, November 19th. TD Securities increased their price target on Bank of Montreal from C$114.00 to C$131.00 in a research note on Friday, November 15th. Royal Bank of Canada reduced their price objective on Bank of Montreal from C$118.00 to C$106.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 28th. Cormark dropped their target price on Bank of Montreal from C$129.00 to C$118.00 in a research report on Wednesday, August 28th. Finally, Jefferies Financial Group cut their price target on Bank of Montreal from C$141.00 to C$124.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of C$128.50.

Bank of Montreal Stock Performance

Shares of BMO opened at C$133.30 on Tuesday. Bank of Montreal has a 52-week low of C$108.32 and a 52-week high of C$134.16. The firm has a market cap of C$97.23 billion, a price-to-earnings ratio of 15.34, a PEG ratio of 0.71 and a beta of 1.16. The business’s fifty day moving average is C$127.16 and its 200-day moving average is C$121.41.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last issued its earnings results on Tuesday, August 27th. The bank reported C$2.64 EPS for the quarter, missing the consensus estimate of C$2.72 by C($0.08). The business had revenue of C$8.19 billion for the quarter, compared to analyst estimates of C$8.23 billion. Bank of Montreal had a return on equity of 8.49% and a net margin of 21.20%. As a group, research analysts forecast that Bank of Montreal will post 9.6514585 EPS for the current fiscal year.

Bank of Montreal Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 26th were paid a $1.55 dividend. The ex-dividend date of this dividend was Wednesday, October 30th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.65%. Bank of Montreal’s dividend payout ratio (DPR) is currently 71.35%.

Insiders Place Their Bets

In other news, Senior Officer David Robert Casper sold 12,819 shares of the stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of C$121.85, for a total value of C$1,562,007.97. Also, Senior Officer Steven Lloyd Tennyson sold 7,908 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of C$112.16, for a total value of C$886,977.10. 0.03% of the stock is owned by company insiders.

About Bank of Montreal

Bank of Montreal provides diversified financial services primarily in North America. It operates through Canadian P&C, U.S P&C, BMO Wealth Management, and BMO Capital Markets segments. The company's personal banking products and services include deposits, mortgages, home lending, consumer credit, small business lending, credit cards, cash management, financial and investment advice, and other banking services; and commercial banking products and services comprise various of financing options and treasury and payment solutions, as well as risk management products.