Bank of Montreal (TSE:BMO) Given New C$76.00 Price Target at National Bank Financial

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its price target trimmed by National Bank Financial from C$107.00 to C$76.00 in a report published on Wednesday morning, BayStreet.CA reports. The firm currently has an outperform rating on the bank’s stock.

Several other research analysts have also recently weighed in on BMO. TD Securities upgraded shares of Bank of Montreal from a hold rating to an action list buy rating and reduced their price target for the company from C$99.00 to C$84.00 in a report on Friday, March 20th. Scotiabank reduced their price target on shares of Bank of Montreal from C$110.00 to C$107.00 in a report on Wednesday, February 26th. Credit Suisse Group reduced their price target on shares of Bank of Montreal from C$102.00 to C$98.00 in a report on Thursday, March 5th. Royal Bank of Canada cut shares of Bank of Montreal from an outperform rating to a sector perform rating and reduced their price target for the company from C$109.00 to C$98.00 in a report on Wednesday, February 26th. Finally, CSFB reduced their price target on shares of Bank of Montreal from C$102.00 to C$98.00 in a report on Thursday, March 5th. Three analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of Buy and an average target price of C$99.83.

Shares of Bank of Montreal stock traded up C$0.31 on Wednesday, hitting C$69.98. The company had a trading volume of 3,478,234 shares, compared to its average volume of 3,182,908. The firm has a market capitalization of $39.82 billion and a P/E ratio of 8.00. Bank of Montreal has a twelve month low of C$55.76 and a twelve month high of C$106.51. The stock has a 50-day moving average of C$86.44 and a 200-day moving average of C$96.32.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 26th. Investors of record on Friday, May 1st will be issued a dividend of $1.06 per share. This represents a $4.24 annualized dividend and a yield of 6.06%. The ex-dividend date is Thursday, April 30th. Bank of Montreal’s payout ratio is 47.09%.

In other Bank of Montreal news, Director Don Matthew Wilson Iii bought 16,500 shares of Bank of Montreal stock in a transaction that occurred on Monday, March 16th. The stock was acquired at an average price of C$62.73 per share, for a total transaction of C$1,035,111.00. Following the completion of the acquisition, the director now owns 30,000 shares of the company’s stock, valued at approximately C$1,882,020. Also, Director Philip Orsino bought 13,000 shares of Bank of Montreal stock in a transaction that occurred on Tuesday, March 10th. The shares were acquired at an average price of C$73.88 per share, with a total value of C$960,375.00. Following the acquisition, the director now directly owns 88,000 shares of the company’s stock, valued at approximately C$6,501,000. Insiders have purchased 32,000 shares of company stock valued at $2,223,736 in the last 90 days.

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, 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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