Analysts Set Bank of Montreal (TSE:BMO) PT at C$132.39

Shares of Bank of Montreal (TSE:BMO) (NYSE:BMO) have been assigned a consensus recommendation of “Moderate Buy” from the fourteen ratings firms that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is C$132.39.

Several research firms have recently issued reports on BMO. TD Securities dropped their price objective on shares of Bank of Montreal from C$140.00 to C$135.00 and set a “buy” rating for the company in a research report on Wednesday, February 28th. Canaccord Genuity Group cut their price objective on Bank of Montreal from C$137.00 to C$136.00 and set a “buy” rating on the stock in a research report on Wednesday, February 28th. Scotiabank reduced their price objective on Bank of Montreal from C$145.00 to C$141.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 28th. Desjardins lowered their target price on Bank of Montreal from C$135.00 to C$133.00 and set a “buy” rating for the company in a research note on Wednesday, February 28th. Finally, CIBC reduced their price target on Bank of Montreal from C$125.00 to C$120.00 and set a “neutral” rating on the stock in a research report on Friday, March 8th.

Bank of Montreal Trading Down 1.5 %

BMO stock opened at C$125.93 on Wednesday. The company has a market cap of C$91.35 billion, a PE ratio of 17.32, a price-to-earnings-growth ratio of 0.54 and a beta of 1.18. The stock has a 50-day moving average price of C$127.73 and a two-hundred day moving average price of C$121.44. Bank of Montreal has a 12-month low of C$102.67 and a 12-month high of C$133.95.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last issued its earnings results on Tuesday, February 27th. The bank reported C$2.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$3.03 by C($0.47). Bank of Montreal had a return on equity of 7.28% and a net margin of 17.71%. The firm had revenue of C$7.67 billion for the quarter, compared to analysts’ expectations of C$8.57 billion. Equities analysts forecast that Bank of Montreal will post 11.3809947 EPS for the current fiscal year.

Bank of Montreal Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Tuesday, May 28th will be given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 4.80%. The ex-dividend date of this dividend is Friday, April 26th. Bank of Montreal’s payout ratio is currently 83.08%.

Insider Buying and Selling

In other news, Director Darrel Hackett sold 3,297 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of C$91.76, for a total value of C$302,532.72. In related news, Senior Officer Nadim Hirji sold 2,882 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of C$130.46, for a total transaction of C$375,985.72. Also, Director Darrel Hackett sold 3,297 shares of Bank of Montreal stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of C$91.76, for a total transaction of C$302,532.72. 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.