TD Securities Forecasts Strong Price Appreciation for Bank of Montreal (TSE:BMO) Stock

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

BMO has been the topic of several other reports. CIBC increased their target price on shares of Bank of Montreal from C$116.00 to C$120.00 in a report on Friday, September 6th. Cormark dropped their price objective on Bank of Montreal from C$129.00 to C$118.00 in a research note on Wednesday, August 28th. Bank of America cut Bank of Montreal from a “buy” rating to a “neutral” rating and decreased their target price for the company from C$134.00 to C$117.00 in a research note on Wednesday, August 28th. Jefferies Financial Group dropped 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 report on Monday, August 12th. Finally, Desjardins decreased their price objective on Bank of Montreal from C$125.00 to C$120.00 and set a “hold” rating for the company in a research report on Wednesday, August 28th. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of C$122.08.

Bank of Montreal Stock Down 0.8 %

BMO stock opened at C$130.33 on Friday. Bank of Montreal has a twelve month low of C$107.16 and a twelve month high of C$133.95. The business’s fifty day moving average is C$124.17 and its 200-day moving average is C$120.88. The company has a market cap of C$95.06 billion, a P/E ratio of 15.00, a price-to-earnings-growth ratio of 0.71 and a beta of 1.16.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last announced its quarterly 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). The company had revenue of C$8.19 billion during the quarter, compared to the consensus estimate of C$8.23 billion. Bank of Montreal had a net margin of 21.20% and a return on equity of 8.49%. Research analysts anticipate that Bank of Montreal will post 9.6514585 earnings per share for the current fiscal year.

Bank of Montreal Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Tuesday, November 26th will be issued a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 4.76%. The ex-dividend date is Wednesday, October 30th. Bank of Montreal’s payout ratio is 71.35%.

Insider Activity at Bank of Montreal

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 business’s stock in a transaction 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. 0.03% of the stock is owned by insiders.

Bank of Montreal Company Profile

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.