Bank of Montreal (BMO) Rating Increased to Equal Weight at Barclays PLC

Barclays PLC upgraded shares of Bank of Montreal (TSE:BMO) (NYSE:BMO) from an underweight rating to an equal weight rating in a research note released on Tuesday, May 23rd.

Other equities research analysts also recently issued research reports about the company. CIBC raised their price target on Bank of Montreal from C$104.00 to C$109.00 in a report on Tuesday, March 7th. Keefe, Bruyette & Woods cut their price target on Bank of Montreal from C$105.00 to C$95.00 in a report on Tuesday, February 21st. Royal Bank Of Canada raised their price target on Bank of Montreal from C$97.00 to C$108.00 in a report on Monday, January 30th. National Bank Financial increased their price objective on Bank of Montreal from C$104.00 to C$107.00 in a research report on Wednesday, March 1st. Finally, Desjardins increased their price objective on Bank of Montreal from C$99.00 to C$104.00 and gave the stock a hold rating in a research report on Wednesday, March 1st. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Bank of Montreal has a consensus rating of Hold and an average price target of C$99.43.

Bank of Montreal (TSE BMO) traded down 0.42% during midday trading on Tuesday, reaching $93.29. 892,795 shares of the company were exchanged. Bank of Montreal has a one year low of $79.82 and a one year high of $104.15. The firm’s 50-day moving average is $93.26 and its 200-day moving average is $97.45. The firm has a market cap of $60.83 billion and a P/E ratio of 11.74.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last announced its quarterly earnings results on Wednesday, May 24th. The bank reported $1.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.94 by $0.02. Bank of Montreal had a net margin of 21.74% and a return on equity of 12.21%. The business had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.44 billion. On average, equities analysts expect that Bank of Montreal will post $7.98 EPS for the current fiscal year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 28th. Shareholders of record on Tuesday, August 1st will be given a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 3.86%. This is a boost from Bank of Montreal’s previous quarterly dividend of $0.88.

In related news, insider Alexandra Dousmanis-Curtis sold 4,300 shares of the stock in a transaction dated Monday, May 29th. The stock was sold at an average price of C$91.75, for a total transaction of C$394,525.00. Also, Director Thomas Earl Flynn sold 10,951 shares of the stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of C$91.60, for a total value of C$1,003,111.60. In the last three months, insiders acquired 4,334 shares of company stock worth $393,326.

Bank of Montreal Company Profile

Bank of Montreal (the Bank) is a financial services provider. The Bank provides a range of personal and commercial banking, wealth management and investment banking products and services. The Bank conducts its business through three operating groups: Personal and Commercial Banking (P&C), Wealth Management and BMO Capital Markets.

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