National Bankshares Issues Positive Forecast for Bank of Montreal (TSE:BMO) Stock Price

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its price objective hoisted by National Bankshares from C$127.00 to C$148.00 in a report released on Wednesday morning,BayStreet.CA reports.

Several other research analysts also recently weighed in on the company. Scotiabank downgraded Bank of Montreal from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from C$123.00 to C$112.00 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 on the stock in a research note on Monday, August 12th. TD Securities upped their price objective on shares of Bank of Montreal from C$114.00 to C$131.00 in a research report on Friday, November 15th. CIBC lifted their target price on shares of Bank of Montreal from C$116.00 to C$120.00 in a report on Friday, September 6th. Finally, Bank of America cut shares of Bank of Montreal from a “buy” rating to a “neutral” rating and cut their price target for the stock from C$134.00 to C$117.00 in a report on Wednesday, August 28th. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of C$124.42.

Bank of Montreal Price Performance

BMO stock opened at C$132.68 on Wednesday. The company has a market cap of C$96.78 billion, a price-to-earnings ratio of 15.27, a price-to-earnings-growth ratio of 0.71 and a beta of 1.16. The company has a fifty day moving average price of C$125.76 and a 200 day moving average price of C$121.13. Bank of Montreal has a 12 month low of C$107.16 and a 12 month high of C$133.95.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last announced 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 during the quarter, compared to analysts’ expectations of C$8.23 billion. As a group, analysts anticipate that Bank of Montreal will post 9.6514585 earnings per share for the current year.

Bank of Montreal Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 26th will be issued a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 4.67%. The ex-dividend date is Wednesday, October 30th. Bank of Montreal’s dividend payout ratio (DPR) is 71.35%.

Insider Activity

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 stock was sold at an average price of C$112.16, for a total value of C$886,977.10. Also, Senior Officer David Robert Casper sold 12,819 shares of the firm’s stock in a transaction 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. 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.