Royal Bank of Canada Reiterates “C$163.00” Price Target for Bank of Montreal (TSE:BMO)

Royal Bank of Canada set a C$163.00 price target on Bank of Montreal (TSE:BMO) (NYSE:BMO) in a report issued on Monday,BayStreet.CA reports. The brokerage currently has an outperform rating on the bank’s stock.

BMO has been the subject of a number of other reports. CIBC decreased their price target on Bank of Montreal from C$156.00 to C$152.00 in a research report on Wednesday, March 5th. Desjardins raised their target price on Bank of Montreal from C$147.00 to C$155.00 and gave the stock a “hold” rating in a research report on Wednesday, February 26th. Scotiabank decreased their target price on Bank of Montreal from C$160.00 to C$159.00 and set an “outperform” rating for the company in a research report on Thursday, February 20th. Cibc World Mkts raised Bank of Montreal from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 6th. Finally, Canaccord Genuity Group raised their target price on Bank of Montreal from C$154.00 to C$165.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. Six investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of C$149.00.

Bank of Montreal Trading Up 0.6 %

Shares of BMO opened at C$140.04 on Monday. The company has a market capitalization of C$101.43 billion, a price-to-earnings ratio of 13.82, a PEG ratio of 0.71 and a beta of 1.16. The stock has a 50 day moving average of C$142.77 and a 200 day moving average of C$133.46. Bank of Montreal has a 12 month low of C$109.02 and a 12 month high of C$151.08.

Bank of Montreal Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Tuesday, April 29th will be paid a dividend of $1.59 per share. This represents a $6.36 annualized dividend and a yield of 4.54%. Bank of Montreal’s dividend payout ratio (DPR) is currently 61.20%.

Insiders Place Their Bets

In other Bank of Montreal news, Senior Officer Nadim Hirji sold 3,238 shares of Bank of Montreal stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of C$148.87, for a total transaction of C$482,024.87. Corporate insiders own 0.03% of the company’s stock.

About Bank of Montreal

Bank of Montreal is a diversified financial-services provider based in North America, operating four business segments: Canadian personal and commercial banking, U.S. P&C banking, wealth management, and capital markets.