Bank of Montreal (BMO) Given a C$106.00 Price Target at CSFB

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CSFB set a C$106.00 price objective on Bank of Montreal (TSE:BMO) (NYSE:BMO) in a research report released on Thursday morning, BayStreet.CA reports. The brokerage currently has an underperform rating on the bank’s stock.

A number of other brokerages have also issued reports on BMO. Desjardins raised their price target on Bank of Montreal from C$108.00 to C$111.00 and gave the stock a hold rating in a research note on Tuesday. Canaccord Genuity decreased their price target on Bank of Montreal from C$113.00 to C$111.00 in a research note on Wednesday. Royal Bank of Canada raised their price target on Bank of Montreal from C$112.00 to C$113.00 and gave the stock an outperform rating in a research note on Wednesday, February 27th. National Bank Financial raised their price target on Bank of Montreal from C$114.00 to C$116.00 in a research note on Wednesday, February 27th. Finally, Bank of America lowered Bank of Montreal from a neutral rating to an underperform rating and decreased their price target for the stock from C$104.00 to C$98.00 in a research note on Monday, January 28th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. Bank of Montreal presently has an average rating of Hold and an average target price of C$110.42.

Shares of TSE:BMO traded down C$0.70 during trading on Thursday, hitting C$103.31. The company had a trading volume of 523,257 shares, compared to its average volume of 1,640,781. The firm has a market capitalization of $65.69 billion and a price-to-earnings ratio of 11.45. Bank of Montreal has a one year low of C$86.25 and a one year high of C$109.00.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last issued its quarterly earnings results on Tuesday, February 26th. The bank reported C$2.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of C$2.24 by C$0.08. The business had revenue of C$6.52 billion for the quarter, compared to the consensus estimate of C$5.94 billion. On average, analysts expect that Bank of Montreal will post 10.2399998725724 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Wednesday, May 1st will be paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date of this dividend is Tuesday, April 30th. Bank of Montreal’s dividend payout ratio is currently 42.65%.

In other Bank of Montreal news, Senior Officer Patrick Cronin sold 26,022 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of C$102.16, for a total transaction of C$2,658,329.45. Also, Senior Officer Cameron Mcaskile Fowler sold 6,900 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of C$103.98, for a total value of C$717,482.70.

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, 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, as well as wealth management products and services, such as insurance products.

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Analyst Recommendations for Bank of Montreal (TSE:BMO)

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