Bank of Montreal Given New C$85.00 Price Target at RBC Capital (BMO)
Equities research analysts at RBC Capital boosted their price target on shares of Bank of Montreal (TSE:BMO) from C$77.00 to C$85.00 in a research note issued to investors on Wednesday. RBC Capital’s price objective indicates a potential upside of 3.46% from the stock’s previous close.
Bank of Montreal (TSE:BMO) traded up 1.55% during mid-day trading on Wednesday, hitting $83.435. 979,375 shares of the company’s stock traded hands. Bank of Montreal has a 52 week low of $65.37 and a 52 week high of $82.79. The stock has a 50-day moving average of $80.81 and a 200-day moving average of $76.38. The company has a market cap of $53.816 billion and a P/E ratio of 12.56.
Bank of Montreal (TSE:BMO) last released its earnings data on Wednesday, August 27th. The company reported $1.73 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.66 by $0.07. On average, analysts predict that Bank of Montreal will post $6.56 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, November 26th. Stockholders of record on Monday, November 3rd will be given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.80%.
BMO has been the subject of a number of other recent research reports. Analysts at NBF raised their price target on shares of Bank of Montreal from C$82.00 to C$86.00 in a research note on Wednesday. Separately, analysts at Canaccord Genuity raised their price target on shares of Bank of Montreal to C$85.00 in a research note on Wednesday. They now have a “hold” rating on the stock. Finally, analysts at Barclays raised their price target on shares of Bank of Montreal from C$80.00 to C$84.00 in a research note on Tuesday, August 19th. They now have an “equal weight” rating on the stock. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of C$82.69.
Bank of Montreal (TSE:BMO) is a diversified financial services provider that provides a range of retail banking, wealth management and investment banking products and services.
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