Bank of Montreal (TSE:BMO) Price Target Raised to C$262.00

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its target price raised by Bank of America from C$259.00 to C$262.00 in a research note published on Wednesday morning,BayStreet.CA reports.

A number of other analysts have also weighed in on BMO. Raymond James Financial raised their price target on shares of Bank of Montreal from C$233.50 to C$268.00 and gave the company an “outperform” rating in a report on Wednesday, August 12th. National Bank Financial set a C$278.00 price objective on Bank of Montreal and gave the stock a “sector perform” rating in a report on Monday, August 24th. Canadian Imperial Bank of Commerce lowered Bank of Montreal from an “outperformer” rating to a “hold” rating and increased their price objective for the company from C$244.00 to C$272.00 in a research report on Wednesday, August 19th. Keefe, Bruyette & Woods set a C$295.00 target price on Bank of Montreal and gave the company a “moderate buy” rating in a research note on Friday, August 21st. Finally, Jefferies Financial Group boosted their target price on Bank of Montreal from C$213.00 to C$225.00 and gave the stock a “hold” rating in a research report on Thursday, August 13th. Seven analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of C$257.36.

Bank of Montreal Trading Up 0.2%

BMO opened at C$239.23 on Wednesday. The stock has a market capitalization of C$166.78 billion, a PE ratio of 18.37, a PEG ratio of 0.71 and a beta of 1.22. Bank of Montreal has a 1-year low of C$163.32 and a 1-year high of C$259.20. The firm has a 50-day moving average price of C$249.80 and a two-hundred day moving average price of C$221.15.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last announced its earnings results on Tuesday, August 25th. The bank reported C$2.38 earnings per share (EPS) for the quarter. Bank of Montreal had a net margin of 11.75% and a return on equity of 10.58%. The company had revenue of C$9.90 billion for the quarter. On average, research analysts predict that Bank of Montreal will post 9.6514585 EPS for the current year.

Bank of Montreal Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 26th were paid a $1.71 dividend. This is a boost from Bank of Montreal’s previous quarterly dividend of $1.67. The ex-dividend date of this dividend was Thursday, July 30th. This represents a $6.84 annualized dividend and a dividend yield of 2.9%. Bank of Montreal’s payout ratio is 50.69%.

Insider Buying and Selling at Bank of Montreal

In related news, insider Sharon Marie Haward-Laird sold 4,519 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of C$225.85, for a total value of C$1,020,616.15. Also, Director Tayfun Tuzun sold 20,300 shares of the firm’s stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of C$236.69, for a total transaction of C$4,804,807.00. Insiders have sold 76,939 shares of company stock worth $17,898,599 in the last 90 days. Corporate insiders own 0.03% of the company’s stock.

Key Bank of Montreal News

Here are the key news stories impacting Bank of Montreal this week:

• Positive Sentiment: Analysts raised their price targets for BMO, with Scotia lifting its target to C$270 and Bank of America increasing its target to C$262. RBC and Canaccord Genuity also forecast strong potential appreciation, reinforcing the bullish outlook. Scotia Increases Bank of Montreal Price Target Bank of America Raises Bank of Montreal Price Target Royal Bank of Canada Forecasts Strong Price Appreciation Canaccord Genuity Forecasts Strong Price Appreciation
• Positive Sentiment: BMO’s third-quarter adjusted results were strong: adjusted net income rose 19% to C$2.86 billion and adjusted diluted EPS increased 22% to C$3.96. The performance suggests underlying operations remained resilient despite reported results being affected by the sale of a finance business. Bank of Montreal Adjusted Income and Finance-Business Sale
• Neutral Sentiment: BMO launched a new exchange-traded fund, expanding its investment-product lineup. The announcement may modestly support its asset-management franchise but is unlikely to materially affect near-term earnings. BMO Launches New ETF
• Negative Sentiment: Director Tayfun Tuzun sold a combined 31,935 BMO shares for approximately C$7.56 million at an average price of C$236.69. While insider transactions do not necessarily reflect business prospects, the sizable sale can weigh on investor sentiment.
• Negative Sentiment: Reported third-quarter net income fell 25% year over year to C$1.75 billion, while reported diluted EPS declined 24% to C$2.38. The contrast with adjusted growth highlights the earnings impact of the finance-business sale and creates uncertainty around headline profitability. Bank of Montreal Reported Earnings Decline

Bank of Montreal Company Profile

Bank of Montreal is a diversified financial-services provider based in North America, operating four business segments: Canadian personal and commercial banking, U.S. P&C banking, wealth management, and capital markets.