Bank of Montreal (TSE:BMO) Receives C$121.29 Average Target Price from Analysts

Bank of Montreal (TSE:BMO) (NYSE:BMO) has earned an average recommendation of “Hold” from the thirteen ratings firms that are currently covering the firm, MarketBeat reports. Eight research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is C$120.77.

Several equities analysts have issued reports on the company. Scotiabank lowered Bank of Montreal from an “outperform” rating to a “sector perform” rating and cut their target price for the company from C$123.00 to C$112.00 in a research note on Wednesday, August 28th. Bank of America lowered shares of Bank of Montreal from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from C$134.00 to C$117.00 in a research note on Wednesday, August 28th. Barclays lowered their target price on shares of Bank of Montreal from C$140.00 to C$132.00 and set an “overweight” rating for the company in a research note on Thursday, May 30th. CIBC upped their price target on Bank of Montreal from C$116.00 to C$120.00 in a research report on Friday, September 6th. Finally, Canaccord Genuity Group lowered their price objective on Bank of Montreal from C$135.00 to C$130.00 and set a “buy” rating for the company in a research report on Wednesday, August 28th.

Insiders Place Their Bets

In related news, Senior Officer Steven Lloyd Tennyson sold 7,908 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of C$112.16, for a total transaction of C$886,977.10. Insiders own 0.03% of the company’s stock.

Bank of Montreal Stock Up 0.6 %

Shares of TSE:BMO opened at C$116.29 on Friday. The firm has a 50 day moving average of C$115.63 and a 200 day moving average of C$121.56. The company has a market capitalization of C$84.82 billion, a price-to-earnings ratio of 13.38, a price-to-earnings-growth ratio of 0.54 and a beta of 1.15. Bank of Montreal has a 52 week low of C$102.67 and a 52 week high of C$133.95.

Bank of Montreal Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Wednesday, October 30th will be given a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 5.33%. The ex-dividend date of this dividend is Wednesday, October 30th. Bank of Montreal’s dividend payout ratio is currently 71.35%.

Bank of Montreal Company Profile

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.