Bank of Montreal (TSE:BMO) Price Target Raised to C$177.00

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its price objective raised by Barclays from C$157.00 to C$177.00 in a research note published on Monday morning,BayStreet.CA reports. The firm currently has an equal weight rating on the bank’s stock.

A number of other research firms also recently commented on BMO. Desjardins upped their price objective on Bank of Montreal from C$156.00 to C$165.00 and gave the stock a “hold” rating in a report on Wednesday, August 27th. Jefferies Financial Group lifted their target price on Bank of Montreal from C$164.00 to C$173.00 in a report on Wednesday, August 27th. CIBC upped their price target on Bank of Montreal from C$180.00 to C$192.00 in a research note on Wednesday, November 19th. National Bankshares downgraded Bank of Montreal from an “outperform” rating to a “sector perform” rating and raised their price objective for the stock from C$173.00 to C$181.00 in a report on Monday, November 17th. Finally, Canaccord Genuity Group lifted their price objective on Bank of Montreal from C$180.00 to C$185.00 and gave the company a “buy” rating in a research note on Friday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of C$173.54.

Bank of Montreal Stock Performance

Bank of Montreal stock opened at C$176.07 on Monday. Bank of Montreal has a 1 year low of C$121.31 and a 1 year high of C$182.90. The firm has a 50 day moving average price of C$176.45 and a 200 day moving average price of C$162.31. The company has a market cap of C$126.12 billion, a price-to-earnings ratio of 15.43, a PEG ratio of 0.71 and a beta of 1.38.

Bank of Montreal Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Wednesday, November 26th were given a $1.63 dividend. The ex-dividend date of this dividend was Thursday, October 30th. This represents a $6.52 annualized dividend and a yield of 3.7%. Bank of Montreal’s dividend payout ratio (DPR) is 55.74%.

Insider Transactions at Bank of Montreal

In other news, insider Steven Lloyd Tennyson sold 9,072 shares of the stock in a transaction dated Friday, August 29th. The stock was sold at an average price of C$163.89, for a total value of C$1,486,782.86. Following the completion of the sale, the insider owned 21,866 shares in the company, valued at approximately C$3,583,553.14. This trade represents a 29.32% decrease in their ownership of the stock. Also, insider Alan Tannenbaum sold 9,824 shares of the firm’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of C$175.12, for a total value of C$1,720,408.35. In the last 90 days, insiders have sold 35,883 shares of company stock worth $5,989,740. 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.