Bank of Montreal (TSE:BMO) Price Target Raised to C$148.00

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its price target lifted by Canaccord Genuity Group from C$143.00 to C$148.00 in a research note issued to investors on Friday,BayStreet.CA reports.

Other analysts also recently issued research reports about the company. Scotiabank upgraded Bank of Montreal from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from C$147.00 to C$160.00 in a research report on Friday. Jefferies Financial Group decreased their target price on Bank of Montreal from C$141.00 to C$124.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Cormark dropped their target price on Bank of Montreal from C$129.00 to C$118.00 in a report on Wednesday, August 28th. CIBC raised Bank of Montreal from a “neutral” rating to an “outperform” rating and upped their price target for the company from C$134.00 to C$150.00 in a report on Friday. Finally, TD Securities lifted their target price on shares of Bank of Montreal from C$114.00 to C$131.00 in a research report on Friday, November 15th. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$131.33.

Bank of Montreal Trading Up 4.7 %

Shares of BMO opened at C$146.32 on Friday. Bank of Montreal has a 12 month low of C$109.02 and a 12 month high of C$147.54. The stock has a 50 day moving average of C$128.88 and a 200 day moving average of C$121.67. The company has a market capitalization of C$106.73 billion, a price-to-earnings ratio of 16.84, a PEG ratio of 0.71 and a beta of 1.16.

Bank of Montreal Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Thursday, January 30th will be issued a $1.59 dividend. This is a positive change from Bank of Montreal’s previous quarterly dividend of $1.55. This represents a $6.36 annualized dividend and a yield of 4.35%. Bank of Montreal’s payout ratio is currently 71.35%.

Insiders Place Their Bets

In other Bank of Montreal news, Senior Officer David Robert Casper sold 12,819 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of C$121.85, for a total value of C$1,562,007.97. Corporate insiders own 0.03% of the company’s stock.

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.