Bank of Montreal (TSE:BMO) Price Target Raised to C$241.00

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its target price raised by Royal Bank Of Canada from C$230.00 to C$241.00 in a research report released on Wednesday,BayStreet.CA reports. The firm currently has a sector perform rating on the bank’s stock.

A number of other research analysts have also commented on BMO. Scotiabank increased their price objective 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. 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 report on Thursday, August 13th. Keefe, Bruyette & Woods set a C$295.00 target price on Bank of Montreal and gave the stock a “moderate buy” rating in a research report on Friday, August 21st. Barclays increased their price target on Bank of Montreal from C$203.00 to C$240.00 in a report on Friday, August 21st. Finally, Canadian Imperial Bank of Commerce lowered shares of Bank of Montreal from an “outperformer” rating to a “hold” rating and lifted their price target for the company from C$244.00 to C$272.00 in a research report on Wednesday, August 19th. 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 data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of C$257.36.

Bank of Montreal Price Performance

Bank of Montreal stock opened at C$239.23 on Wednesday. Bank of Montreal has a one year low of C$163.32 and a one year high of C$259.20. The company’s fifty day moving average price is C$249.80 and its two-hundred day moving average price is C$221.15. The company has a market capitalization of C$166.78 billion, a price-to-earnings ratio of 18.37, a PEG ratio of 0.71 and a beta of 1.22.

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

Bank of Montreal Increases Dividend

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

Insiders Place Their Bets

In related news, insider Mona Elizabeth Malone sold 5,000 shares of the business’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of C$244.65, for a total transaction of C$1,223,250.00. Following the completion of the transaction, the insider owned 1,758 shares of the company’s stock, valued at approximately C$430,094.70. The trade was a 73.99% decrease in their position. Also, Director Tayfun Tuzun sold 20,300 shares of the 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 value of C$4,804,807.00. Over the last three months, insiders have sold 76,939 shares of company stock valued at $17,898,599. Company 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: 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

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.