Bank of Montreal (TSE:BMO) (NYSE:BMO) has earned a consensus recommendation of “Buy” from the eleven research firms that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is C$109.00.
Several equities analysts recently issued reports on the company. Barclays cut their target price on Bank of Montreal from C$102.00 to C$101.00 in a research report on Wednesday, February 28th. Macquarie raised Bank of Montreal from a “neutral” rating to an “outperform” rating and upped their target price for the company from C$105.00 to C$107.00 in a research report on Thursday, February 15th. Royal Bank of Canada upped their target price on Bank of Montreal from C$113.00 to C$115.00 in a research report on Wednesday, February 14th. Eight Capital increased their price target on Bank of Montreal from C$106.00 to C$109.00 in a research report on Thursday, March 1st. Finally, Citigroup increased their price target on Bank of Montreal from C$112.00 to C$116.00 in a research report on Monday, December 18th.
In other news, Director Thomas Earl Flynn sold 23,000 shares of the firm’s stock in a transaction dated Monday, March 5th. The stock was sold at an average price of C$96.08, for a total transaction of C$2,209,840.00. Also, insider Frank J. Techar sold 9,747 shares of the firm’s stock in a transaction dated Wednesday, March 28th. The shares were sold at an average price of C$78.11, for a total value of C$761,338.17. Insiders have sold a total of 57,147 shares of company stock worth $5,323,210 over the last ninety days.
Shares of TSE BMO traded down C$0.57 during mid-day trading on Friday, hitting C$95.70. The stock had a trading volume of 152,704 shares, compared to its average volume of 1,501,811. Bank of Montreal has a twelve month low of C$88.63 and a twelve month high of C$105.55.
Bank of Montreal (TSE:BMO) (NYSE:BMO) last released its earnings results on Tuesday, February 27th. The bank reported C$2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of C$2.07 by C$0.05. Bank of Montreal had a return on equity of 9.46% and a net margin of 17.14%. The firm had revenue of C$5.68 billion for the quarter, compared to the consensus estimate of C$5.56 billion.
The business also recently declared a quarterly dividend, which will be paid on Monday, May 28th. Shareholders of record on Tuesday, May 1st will be given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 3.89%. The ex-dividend date is Monday, April 30th.
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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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