Bank of Montreal (TSE:BMO) Cut to Neutral at CIBC

CIBC downgraded shares of Bank of Montreal (TSE:BMO) (NYSE:BMO) from an outperform rating to a neutral rating in a report released on Friday morning,BayStreet.CA reports. The brokerage currently has C$141.00 price target on the bank’s stock, down from their previous price target of C$152.00.

Several other research firms also recently commented on BMO. Scotiabank decreased their price objective on Bank of Montreal from C$160.00 to C$159.00 and set an “outperform” rating for the company in a report on Thursday, February 20th. Canaccord Genuity Group upped their price objective on shares of Bank of Montreal from C$143.00 to C$148.00 in a report on Friday, December 6th. National Bankshares raised their price objective on shares of Bank of Montreal from C$153.00 to C$161.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. Cibc World Mkts raised shares of Bank of Montreal from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 6th. Finally, Jefferies Financial Group raised their price target on shares of Bank of Montreal from C$140.00 to C$155.00 and gave the company a “hold” rating in a research report on Wednesday, February 26th. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Bank of Montreal has a consensus rating of “Hold” and an average price target of C$148.15.

Bank of Montreal Price Performance

Shares of Bank of Montreal stock opened at C$127.04 on Friday. The business has a 50-day simple moving average of C$141.56 and a 200 day simple moving average of C$135.84. Bank of Montreal has a one year low of C$109.02 and a one year high of C$151.08. The firm has a market capitalization of C$92.02 billion, a price-to-earnings ratio of 12.54, a PEG ratio of 0.71 and a beta of 1.16.

Bank of Montreal Dividend Announcement

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

Insiders Place Their Bets

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

Bank of Montreal Company Profile

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.