Bank of Montreal (TSE:BMO) Price Target Lowered to C$159.00 at Scotiabank

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its price objective trimmed by Scotiabank from C$160.00 to C$159.00 in a research report report published on Thursday,BayStreet.CA reports. The brokerage currently has an outperform rating on the bank’s stock.

Several other brokerages also recently issued reports on BMO. National Bankshares increased their price objective on Bank of Montreal from C$127.00 to C$148.00 in a research note on Wednesday, November 20th. TD Securities increased their price objective on Bank of Montreal from C$114.00 to C$131.00 in a research note on Friday, November 15th. Royal Bank of Canada raised Bank of Montreal from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from C$133.00 to C$161.00 in a research report on Wednesday, January 8th. Jefferies Financial Group upped their target price on Bank of Montreal from C$126.00 to C$140.00 in a research report on Tuesday. Finally, Cibc World Mkts raised Bank of Montreal from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 6th. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$139.50.

Bank of Montreal Trading Down 0.5 %

Shares of Bank of Montreal stock opened at C$142.99 on Thursday. The stock has a 50-day moving average price of C$141.54 and a 200 day moving average price of C$129.95. The company has a market cap of C$103.57 billion, a P/E ratio of 14.12, a P/E/G ratio of 0.71 and a beta of 1.16. Bank of Montreal has a 1 year low of C$109.02 and a 1 year high of C$147.54.

Bank of Montreal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 26th will be issued a dividend of $1.59 per share. This is a positive change from Bank of Montreal’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Thursday, January 30th. This represents a $6.36 dividend on an annualized basis and a dividend yield of 4.45%. Bank of Montreal’s dividend payout ratio is currently 61.20%.

Insider Activity

In other Bank of Montreal news, Director William Darryl White sold 11,376 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of C$140.79, for a total value of C$1,601,592.91. 0.03% of the stock is currently owned by insiders.

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.