Bank of Montreal (TSE:BMO) Stock Price Expected to Rise, CIBC Analyst Says

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its price target lifted by CIBC from C$150.00 to C$154.00 in a report published on Tuesday,BayStreet.CA reports.

Other analysts have also issued research reports about the stock. UBS Group reduced their price target on shares of Bank of Montreal from C$150.00 to C$146.00 in a research report on Friday, February 14th. Canaccord Genuity Group upped their target price on Bank of Montreal from C$143.00 to C$148.00 in a research note on Friday, December 6th. Cibc World Mkts upgraded Bank of Montreal from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 6th. Jefferies Financial Group upped their price objective on Bank of Montreal from C$126.00 to C$140.00 in a research report on Tuesday. Finally, Royal Bank of Canada raised Bank of Montreal from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from C$133.00 to C$161.00 in a research note on Wednesday, January 8th. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of C$139.50.

Bank of Montreal Stock Down 0.5 %

BMO opened at C$142.99 on Tuesday. The stock has a market capitalization of C$103.57 billion, a price-to-earnings ratio of 14.12, a P/E/G ratio of 0.71 and a beta of 1.16. Bank of Montreal has a twelve month low of C$109.02 and a twelve month high of C$147.54. The company has a 50-day simple moving average of C$141.54 and a 200 day simple moving average of C$129.95.

Bank of Montreal Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Wednesday, February 26th will be given a $1.59 dividend. This represents a $6.36 dividend on an annualized basis and a yield of 4.45%. This is a positive change from Bank of Montreal’s previous quarterly dividend of $1.55. The ex-dividend date is Thursday, January 30th. Bank of Montreal’s payout ratio is presently 61.20%.

Insiders Place Their Bets

In other news, Director William Darryl White sold 11,376 shares of Bank of Montreal stock in a transaction dated Friday, December 13th. The shares were sold at an average price of C$140.79, for a total transaction of C$1,601,592.91. 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.