Bank of Montreal (TSE:BMO) Downgraded by Cibc World Mkts to “Hold”

Cibc World Mkts cut shares of Bank of Montreal (TSE:BMO) (NYSE:BMO) from a strong-buy rating to a hold rating in a research report report published on Friday morning,Zacks.com reports.

A number of other equities analysts have also recently commented on BMO. Canaccord Genuity Group lifted their target price on Bank of Montreal from C$154.00 to C$165.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. CIBC cut shares of Bank of Montreal from an “outperform” rating to a “neutral” rating and cut their price objective for the company from C$152.00 to C$141.00 in a research report on Friday. Jefferies Financial Group increased their target price on shares of Bank of Montreal from C$140.00 to C$155.00 and gave the company a “hold” rating in a research note on Wednesday, February 26th. Canaccord Genuity Group lifted their price target on shares of Bank of Montreal from C$143.00 to C$148.00 in a research note on Friday, December 6th. Finally, UBS Group increased their price objective on shares of Bank of Montreal from C$146.00 to C$160.00 in a research report on Friday, February 28th. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of C$148.15.

Bank of Montreal Trading Down 6.1 %

BMO opened at C$127.04 on Friday. The stock has a 50-day moving average of C$141.56 and a 200 day moving average of C$135.84. Bank of Montreal has a 12 month low of C$109.02 and a 12 month high of C$151.08. The firm has a market cap of C$92.02 billion, a P/E ratio of 12.54, a P/E/G ratio of 0.71 and a beta of 1.16.

Bank of Montreal Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 27th will be issued a $1.59 dividend. The ex-dividend date of this dividend is Tuesday, April 29th. This represents a $6.36 annualized dividend and a dividend yield of 5.01%. Bank of Montreal’s dividend payout ratio is currently 61.20%.

Insider Transactions at Bank of Montreal

In other news, Senior Officer Nadim Hirji sold 3,238 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of C$148.87, for a total value 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.