Bank of Montreal (BMO) Receives Average Recommendation of “Buy” from Analysts

Shares of Bank of Montreal (TSE:BMO) (NYSE:BMO) have received an average recommendation of “Buy” from the twelve analysts that are presently covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a buy recommendation. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is C$112.00.

Several equities research analysts have recently issued reports on BMO shares. Barclays raised their price target on Bank of Montreal from C$101.00 to C$107.00 in a research report on Thursday, May 31st. Cormark lifted their target price on Bank of Montreal from C$110.00 to C$115.00 in a research report on Thursday, May 31st. Eight Capital lifted their target price on Bank of Montreal from C$109.00 to C$114.00 in a research report on Thursday, May 31st. Canaccord Genuity lifted their target price on Bank of Montreal from C$106.00 to C$109.00 in a research report on Thursday, May 31st. Finally, CIBC decreased their target price on Bank of Montreal from C$111.00 to C$109.00 in a research report on Monday, June 11th.

Shares of TSE:BMO traded up C$0.89 during midday trading on Friday, hitting C$104.86. The company’s stock had a trading volume of 1,130,120 shares, compared to its average volume of 1,334,684. Bank of Montreal has a fifty-two week low of C$88.63 and a fifty-two week high of C$105.55.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last issued its quarterly earnings results on Wednesday, May 30th. The bank reported C$2.20 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of C$2.15 by C$0.05. The company had revenue of C$5.62 billion for the quarter, compared to the consensus estimate of C$5.52 billion. Bank of Montreal had a return on equity of 9.46% and a net margin of 17.14%.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 28th. Investors of record on Wednesday, August 1st will be given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date of this dividend is Tuesday, July 31st.

In other Bank of Montreal news, insider Joanna Michelle Rotenberg sold 3,000 shares of Bank of Montreal stock in a transaction that occurred on Tuesday, June 12th. The stock was sold at an average price of C$101.75, for a total transaction of C$305,250.00. Also, insider Cameron Mcaskile Fowler sold 19,010 shares of Bank of Montreal stock in a transaction that occurred on Tuesday, June 26th. The shares were sold at an average price of C$102.24, for a total value of C$1,943,582.40. Over the last three months, insiders have sold 117,198 shares of company stock worth $11,932,764.

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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Analyst Recommendations for Bank of Montreal (TSE:BMO)

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