Bank of Montreal (TSE:BMO) Given New C$143.00 Price Target at Canaccord Genuity Group

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its price target raised by Canaccord Genuity Group from C$125.00 to C$143.00 in a research report report published on Tuesday,BayStreet.CA reports.

Several other analysts have also commented on the company. Royal Bank of Canada decreased their price objective on Bank of Montreal from C$118.00 to C$106.00 and set a “sector perform” rating for the company in a 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. Scotiabank cut Bank of Montreal from an “outperform” rating to a “sector perform” rating and dropped their target price for the company from C$123.00 to C$112.00 in a research report on Wednesday, August 28th. CIBC lifted their price objective on Bank of Montreal from C$116.00 to C$120.00 in a report on Friday, September 6th. Finally, Jefferies Financial Group reduced their price target on shares of 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. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Bank of Montreal has a consensus rating of “Hold” and a consensus price target of C$123.08.

Bank of Montreal Stock Up 0.8 %

TSE:BMO opened at C$131.41 on Tuesday. The stock has a market cap of C$95.85 billion, a PE ratio of 15.12, a P/E/G ratio of 0.71 and a beta of 1.16. Bank of Montreal has a 52 week low of C$107.16 and a 52 week high of C$133.95. The business’s 50-day simple moving average is C$124.56 and its two-hundred day simple moving average is C$120.93.

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 net margin of 21.20% and a return on equity of 8.49%. The business had revenue of C$8.19 billion for the quarter, compared to the consensus estimate of C$8.23 billion. Sell-side analysts anticipate that Bank of Montreal will post 9.6514585 earnings per share for the current fiscal year.

Bank of Montreal Announces Dividend

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

Insider Activity at Bank of Montreal

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

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.