Bank of Montreal (TSE:BMO) Price Target Raised to C$120.00 at CIBC

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its target price boosted by CIBC from C$116.00 to C$120.00 in a research report released on Friday morning, BayStreet.CA reports.

A number of other brokerages have also weighed in on BMO. Desjardins cut their price objective on Bank of Montreal from C$125.00 to C$120.00 and set a hold rating for the company in a research report on Wednesday, August 28th. UBS Group set a C$122.00 price target on Bank of Montreal and gave the company a neutral rating in a report on Tuesday, July 2nd. TD Securities downgraded Bank of Montreal from a buy rating to a hold rating and reduced their price objective for the stock from C$130.00 to C$114.00 in a research note on Wednesday, August 28th. Jefferies Financial Group cut their target price on shares of Bank of Montreal from C$141.00 to C$124.00 and set a buy rating for the company in a report on Monday, August 12th. Finally, Scotiabank cut shares of Bank of Montreal from an outperform rating to a sector perform rating and reduced their price target for the stock from C$123.00 to C$112.00 in a research report on Wednesday, August 28th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Hold and an average target price of C$121.29.

Bank of Montreal Stock Performance

Shares of TSE:BMO opened at C$111.69 on Friday. The firm has a market cap of C$81.47 billion, a price-to-earnings ratio of 12.85, a P/E/G ratio of 0.54 and a beta of 1.16. The firm has a fifty day moving average price of C$115.71 and a 200 day moving average price of C$121.97. Bank of Montreal has a fifty-two week low of C$102.67 and a fifty-two week high of C$133.95.

Bank of Montreal Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Wednesday, October 30th will be issued a dividend of $1.55 per share. The ex-dividend date is Wednesday, October 30th. This represents a $6.20 annualized dividend and a yield of 5.55%. Bank of Montreal’s payout ratio is 71.35%.

About Bank of Montreal

Bank of Montreal provides diversified financial services primarily in North America. It operates through Canadian P&C, U.S P&C, BMO Wealth Management, and BMO Capital Markets segments. The company's personal banking products and services include deposits, mortgages, home lending, consumer credit, small business lending, credit cards, cash management, financial and investment advice, and other banking services; and commercial banking products and services comprise various of financing options and treasury and payment solutions, as well as risk management products.