Desjardins Reiterates “C$260.00” Price Target for Bank of Montreal (TSE:BMO)

Desjardins set a C$260.00 price target on Bank of Montreal (TSE:BMO) (NYSE:BMO) in a research report sent to investors on Wednesday,BayStreet reports. The firm currently has a hold rating on the bank’s stock.

A number of other equities research analysts have also weighed in on the stock. Royal Bank Of Canada upped their target price on shares of Bank of Montreal from C$230.00 to C$241.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 26th. Canadian Imperial Bank of Commerce lowered Bank of Montreal from an “outperformer” rating to a “hold” rating and boosted their price objective for the stock from C$244.00 to C$272.00 in a report on Wednesday, August 19th. Bank of America boosted their price objective on Bank of Montreal from C$259.00 to C$262.00 in a report on Wednesday, August 26th. Canaccord Genuity Group increased their price objective on Bank of Montreal from C$265.00 to C$271.00 and gave the stock a “buy” rating in a research note on Wednesday, August 26th. Finally, Scotiabank raised their target price on Bank of Montreal from C$234.00 to C$239.00 and gave the company a “sector outperform” rating in a report on Tuesday, June 16th. Seven investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of C$256.57.

Bank of Montreal Trading Down 0.3%

BMO opened at C$242.76 on Wednesday. The company’s fifty day moving average price is C$249.05 and its two-hundred day moving average price is C$222.72. Bank of Montreal has a 1-year low of C$168.92 and a 1-year high of C$259.20. The company has a market cap of C$169.24 billion, a price-to-earnings ratio of 19.78, a PEG ratio of 0.71 and a beta of 1.22.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last released its quarterly earnings data on Tuesday, August 25th. The bank reported C$3.96 earnings per share for the quarter. The firm had revenue of C$9.96 billion for the quarter. Bank of Montreal had a net margin of 11.75% and a return on equity of 10.58%. As a group, equities analysts forecast that Bank of Montreal will post 9.6514585 earnings per share for the current fiscal year.

Bank of Montreal Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Wednesday, August 26th were issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 2.8%. This is a boost from Bank of Montreal’s previous quarterly dividend of $1.67. The ex-dividend date was Thursday, July 30th. Bank of Montreal’s dividend payout ratio is presently 54.44%.

Insiders Place Their Bets

In other Bank of Montreal news, Director Tayfun Tuzun sold 20,300 shares of Bank of Montreal 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. Also, insider Deland Kamanga sold 9,064 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of C$237.65, for a total value of C$2,154,059.60. In the last ninety days, insiders sold 50,516 shares of company stock valued at $12,040,908. Corporate insiders own 0.03% of the company’s stock.

Key Headlines Impacting Bank of Montreal

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

• Positive Sentiment: Share buyback receives regulatory approval: Bank of Montreal secured approval for a normal-course issuer bid. The program could support earnings per share, provide demand for the stock and signal management’s confidence in the bank’s valuation. Bank of Montreal Secures Regulatory Clearance for Normal Course Issuer Bid
• Positive Sentiment: New covered-bond issuance supports funding: BMO issued €750 million of floating-rate covered bonds maturing in 2029. The transaction diversifies the bank’s funding sources and reinforces access to European debt markets, although it also adds funding obligations. Bank of Montreal Issues €750 Million Floating Rate Covered Bonds Due 2029
• Neutral Sentiment: Analysts remain cautiously constructive: Desjardins assigned BMO a C$260 price target, while CIBC cut its target from C$272 to C$261 and retained a “neutral” rating. The targets imply some upside but point to limited conviction in a near-term rally. Desjardins price target for Bank of Montreal CIBC price target update
• Negative Sentiment: Insider sale weighs on sentiment: Senior officer Deland Kamanga sold 9,064 shares for approximately C$2.15 million at an average price of C$237.65. Although the sale may reflect personal financial planning, insider selling can create modest short-term pressure. Bank of Montreal insider share sale

About Bank of Montreal

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.