Bank of Montreal (BMO) Getting Somewhat Favorable News Coverage, Study Shows

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Media coverage about Bank of Montreal (TSE:BMO) (NYSE:BMO) has been trending somewhat positive this week, according to InfoTrie Sentiment Analysis. The research firm scores the sentiment of press coverage by reviewing more than 6,000 news and blog sources. The firm ranks coverage of public companies on a scale of negative five to positive five, with scores nearest to five being the most favorable. Bank of Montreal earned a media sentiment score of 1.54 on their scale. InfoTrie also gave news stories about the bank an news buzz score of 5 out of 10, indicating that recent press coverage is somewhat likely to have an effect on the company’s share price in the near term.

Here are some of the news headlines that may have effected Bank of Montreal’s ranking:

Bank of Montreal stock traded down C$0.59 during midday trading on Friday, reaching C$98.87. The company’s stock had a trading volume of 1,178,400 shares, compared to its average volume of 1,356,571. Bank of Montreal has a fifty-two week low of C$93.60 and a fifty-two week high of C$109.00.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last posted its quarterly earnings results on Tuesday, August 28th. The bank reported C$2.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of C$2.27 by C$0.09. The business had revenue of C$5.82 billion during the quarter, compared to analyst estimates of C$5.71 billion. As a group, analysts anticipate that Bank of Montreal will post 9.63581654335924 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 27th. Shareholders of record on Thursday, November 1st will be paid a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date is Wednesday, October 31st. Bank of Montreal’s dividend payout ratio is presently 50.28%.

BMO has been the topic of a number of analyst reports. Canaccord Genuity upgraded Bank of Montreal from a “hold” rating to a “buy” rating and raised their price target for the company from C$111.00 to C$118.00 in a research note on Wednesday, August 29th. CIBC raised their price target on Bank of Montreal from C$109.00 to C$111.00 in a research note on Wednesday, August 29th. National Bank Financial raised their price target on Bank of Montreal from C$108.00 to C$115.00 and gave the company an “outperform” rating in a research note on Wednesday, August 29th. Royal Bank of Canada upgraded Bank of Montreal from a “sector perform” rating to a “c$103.93” rating and raised their price target for the company from C$120.00 to C$124.00 in a research note on Wednesday, July 18th. Finally, Eight Capital raised their price target on Bank of Montreal from C$119.00 to C$124.00 in a research note on Wednesday, August 29th. Six equities research analysts have rated the stock with a buy rating, The stock presently has an average rating of “Buy” and an average target price of C$114.50.

In other news, Director Thomas Earl Flynn sold 39,784 shares of Bank of Montreal stock in a transaction dated Friday, August 31st. The stock was sold at an average price of C$106.82, for a total transaction of C$4,249,726.88. Also, insider Jean-Michel Ares sold 57,356 shares of Bank of Montreal stock in a transaction dated Friday, September 21st. The stock was sold at an average price of C$108.46, for a total value of C$6,220,831.76. Over the last 90 days, insiders sold 102,140 shares of company stock worth $11,006,409.

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Bank of Montreal Company Profile

Bank of Montreal provides diversified financial services primarily in North America. It operates through three groups: Personal and Commercial Banking, Wealth Management, and BMO Capital Markets. The company's personal banking products and services include checking and savings accounts, credit cards, mortgages, creditor insurance products, and financial and investment advice services; and commercial banking products and services comprise business deposit accounts, commercial credit cards, business loans and commercial mortgages, cash management solutions, foreign exchange, and specialized banking programs for small business and commercial banking customers.

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