Bank of Montreal (TSE:BMO) Given New C$131.00 Price Target at TD Securities

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its price objective upped by TD Securities from C$114.00 to C$131.00 in a research report report published on Friday morning,BayStreet.CA reports.

Several other brokerages have also recently issued reports on BMO. Canaccord Genuity Group dropped their price objective on shares of Bank of Montreal from C$135.00 to C$130.00 and set a “buy” rating for the company in a research note on Wednesday, August 28th. Royal Bank of Canada dropped their price objective on shares of Bank of Montreal from C$118.00 to C$106.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 28th. Jefferies Financial Group dropped their price objective on shares of Bank of Montreal from C$141.00 to C$124.00 and set a “buy” rating for the company in a research note on Monday, August 12th. CIBC upped their price objective on shares of Bank of Montreal from C$116.00 to C$120.00 in a research note on Friday, September 6th. Finally, National Bankshares dropped their price objective on shares of Bank of Montreal from C$131.00 to C$127.00 and set an “outperform” rating for the company in a research note on Wednesday, August 28th. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Bank of Montreal currently has an average rating of “Hold” and an average target price of C$122.08.

Bank of Montreal Stock Performance

Shares of BMO stock traded up C$0.02 on Friday, reaching C$131.32. 5,376,000 shares of the company were exchanged, compared to its average volume of 2,920,101. The company has a market cap of C$95.79 billion, a price-to-earnings ratio of 15.11, a P/E/G ratio of 0.71 and a beta of 1.16. The business has a 50-day moving average price of C$123.80 and a 200 day moving average price of C$120.95. Bank of Montreal has a 1 year low of C$107.16 and a 1 year high of C$133.95.

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

Bank of Montreal Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 26th will be issued a $1.55 dividend. The ex-dividend date of this dividend is Wednesday, October 30th. This represents a $6.20 annualized dividend and a dividend yield of 4.72%. Bank of Montreal’s dividend payout ratio is currently 71.35%.

Insider Transactions at Bank of Montreal

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

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.