Bank of Montreal (TSE:BMO) (NYSE:BMO) has earned an average recommendation of “Buy” from the twelve analysts that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is C$111.67.
Several research analysts recently issued reports on the stock. CIBC cut their target price on shares of Bank of Montreal from C$111.00 to C$109.00 in a research report on Monday, June 11th. Citigroup upped their target price on shares of Bank of Montreal from C$116.00 to C$120.00 in a research report on Friday, June 1st. Barclays upped their target price on shares of Bank of Montreal from C$101.00 to C$107.00 in a research report on Thursday, May 31st. Cormark upped their target price on shares of Bank of Montreal from C$110.00 to C$115.00 in a research report on Thursday, May 31st. Finally, Eight Capital upped their target price on shares of Bank of Montreal from C$109.00 to C$114.00 in a research report on Thursday, May 31st.
Shares of Bank of Montreal traded down C$0.06, reaching C$101.85, during mid-day trading on Friday, according to MarketBeat.com. 1,402,205 shares of the stock traded hands, compared to its average volume of 1,423,479. Bank of Montreal has a 1 year low of C$88.63 and a 1 year high of C$105.55.
Bank of Montreal (TSE:BMO) (NYSE:BMO) last announced its earnings results on Wednesday, May 30th. The bank reported C$2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of C$2.15 by C$0.05. Bank of Montreal had a net margin of 17.14% and a return on equity of 9.46%. The company had revenue of C$5.62 billion during the quarter, compared to analyst estimates of C$5.52 billion.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 28th. Shareholders of record on Wednesday, August 1st will be paid a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.77%. The ex-dividend date is Tuesday, July 31st.
In other Bank of Montreal news, insider Patrick Cronin sold 24,417 shares of the business’s stock in a transaction on Wednesday, June 6th. The shares were sold at an average price of C$101.14, for a total value of C$2,469,535.38. Also, insider Gilles Gerard Ouellette sold 70,771 shares of the business’s stock in a transaction on Friday, June 15th. The stock was sold at an average price of C$101.94, for a total transaction of C$7,214,395.74. Insiders sold 117,198 shares of company stock valued at $11,932,764 over the last three months.
About Bank of Montreal
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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