Bank of Montreal (TSE:BMO) Given New C$134.00 Price Target at CIBC

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its target price raised by CIBC from C$120.00 to C$134.00 in a research report released on Tuesday morning,BayStreet.CA reports.

A number of other equities research analysts also recently issued reports on BMO. Scotiabank increased their price target on Bank of Montreal from C$112.00 to C$147.00 in a research report on Monday, November 25th. Cormark reduced their target price on Bank of Montreal from C$129.00 to C$118.00 in a report on Wednesday, August 28th. Canaccord Genuity Group boosted their price target on Bank of Montreal from C$125.00 to C$143.00 in a research note on Tuesday, November 19th. Bank of America cut shares of Bank of Montreal from a “buy” rating to a “neutral” rating and cut their price objective for the stock from C$134.00 to C$117.00 in a research report on Wednesday, August 28th. Finally, Jefferies Financial Group decreased their target price on shares of Bank of Montreal from C$141.00 to C$124.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of C$128.50.

Bank of Montreal Stock Performance

BMO opened at C$133.50 on Tuesday. The stock has a fifty day moving average of C$127.45 and a 200-day moving average of C$121.46. The company has a market capitalization of C$97.38 billion, a P/E ratio of 15.36, a P/E/G ratio of 0.71 and a beta of 1.16. Bank of Montreal has a fifty-two week low of C$109.02 and a fifty-two week high of C$134.16.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last announced its earnings results on Tuesday, August 27th. The bank reported C$2.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$2.72 by C($0.08). Bank of Montreal had a return on equity of 8.49% and a net margin of 21.20%. The business had revenue of C$8.19 billion for the quarter, compared to analyst estimates of C$8.23 billion. On average, equities research analysts predict that Bank of Montreal will post 9.6514585 earnings per share for the current fiscal year.

Bank of Montreal Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 26th were paid a $1.55 dividend. The ex-dividend date was Wednesday, October 30th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.64%. Bank of Montreal’s payout ratio is currently 71.35%.

Insider Buying and Selling

In other Bank of Montreal news, Senior Officer Steven Lloyd Tennyson sold 7,908 shares of the stock in a transaction dated 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 Bank of Montreal stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of C$121.85, for a total value of C$1,562,007.97. 0.03% of the stock is owned by corporate insiders.

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.