Key Points
- Insider sale: Bank of Montreal officer Deland Kamanga sold 9,064 shares for approximately C$2.15 million at an average price of C$237.65.
- Financial performance and shareholder returns: The bank reported quarterly EPS of C$3.96 on C$9.96 billion in revenue and increased its quarterly dividend to C$1.71, equivalent to a 2.8% annualized yield.
- Mixed analyst outlook: Recent price targets range from C$240 to C$295, but the consensus rating remains “Hold” with an average target of C$256.57. Bank of Montreal also received regulatory approval for a share-buyback program.
Bank of Montreal (TSE:BMO - Get Free Report) (NYSE:BMO) insider Deland Kamanga sold 9,064 shares of the business's stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of C$237.65, for a total value of C$2,154,059.60.
Bank of Montreal Price Performance
Bank of Montreal stock opened at C$243.56 on Friday. The business has a 50 day simple moving average of C$249.17 and a 200-day simple moving average of C$222.58. Bank of Montreal has a 12 month low of C$168.92 and a 12 month high of C$259.20. The stock has a market capitalization of C$169.80 billion, a PE ratio of 19.85, a price-to-earnings-growth ratio of 0.71 and a beta of 1.22.
Bank of Montreal (TSE:BMO - Get Free Report) (NYSE:BMO) last posted its quarterly earnings data on Tuesday, August 25th. The bank reported C$3.96 earnings per share for the quarter. The firm had revenue of C$9.96 billion for the quarter. Bank of Montreal had a net margin of 11.75% and a return on equity of 10.58%. As a group, equities research analysts anticipate that Bank of Montreal will post 9.6514585 EPS for the current year.
Bank of Montreal Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 26th were paid a $1.71 dividend. This is a boost from Bank of Montreal's previous quarterly dividend of $1.67. The ex-dividend date was Thursday, July 30th. This represents a $6.84 annualized dividend and a dividend yield of 2.8%. Bank of Montreal's dividend payout ratio (DPR) is 54.44%.
Key Headlines Impacting Bank of Montreal
Here are the key news stories impacting Bank of Montreal this week:
- Positive Sentiment: Share buyback receives regulatory approval: Bank of Montreal secured clearance for a normal-course issuer bid, allowing it to repurchase shares. Buybacks can support earnings per share and signal that management views the stock as attractively valued. Bank of Montreal Secures Regulatory Clearance for Normal Course Issuer Bid
- Positive Sentiment: Buyback announcement reinforces capital-return expectations: The approval of the new share-buyback program gives investors another potential source of returns alongside Bank of Montreal’s dividend and may be helping support the stock.
- Neutral Sentiment: CIBC lowers price target and maintains a neutral rating: Canadian Imperial Bank of Commerce reduced its target from C$272 to C$261 while keeping a “neutral” recommendation. The revised target still implies approximately 7.3% upside from the cited price, suggesting modest appreciation potential rather than a strong bullish view. CIBC price target update
- Neutral Sentiment: Desjardins also takes a cautious stance: Desjardins set a C$260 price target and a “hold” rating, indicating expectations for limited near-term upside and broadly balanced risk and reward.
- Negative Sentiment: Senior officer sells shares: Deland Kamanga sold 9,064 Bank of Montreal shares for approximately C$2.15 million at an average price of C$237.65. While insider sales can reflect personal financial decisions, the transaction may weigh modestly on sentiment because it signals selling by a company insider. Officer selling at Bank of Montreal
Analysts Set New Price Targets
BMO has been the topic of a number of recent analyst reports. Bank of America boosted their price target on shares of Bank of Montreal from C$259.00 to C$262.00 in a research note on Wednesday, August 26th. Keefe, Bruyette & Woods set a C$295.00 price objective on Bank of Montreal and gave the company a "moderate buy" rating in a report on Friday, August 21st. Raymond James Financial lifted their price objective on Bank of Montreal from C$233.50 to C$268.00 and gave the company an "outperform" rating in a report on Wednesday, August 12th. Canaccord Genuity Group boosted their target price on Bank of Montreal from C$265.00 to C$271.00 and gave the stock a "buy" rating in a research report on Wednesday, August 26th. Finally, Barclays increased their target price on Bank of Montreal from C$203.00 to C$240.00 in a research note on Friday, August 21st. Seven analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of C$256.57.
Check Out Our Latest Research Report on Bank of Montreal
Bank of Montreal Company Profile
(
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Bank of Montreal is a diversified financial-services provider based in North America, operating four business segments: Canadian personal and commercial banking, U.S. P&C banking, wealth management, and capital markets.
Further Reading
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