Analysts Set Bank of Montreal (TSE:BMO) PT at C$167.42

Shares of Bank of Montreal (TSE:BMO) (NYSE:BMO) have been assigned a consensus recommendation of “Moderate Buy” from the ten analysts that are currently covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is C$167.42.

BMO has been the subject of a number of analyst reports. Bank of America upped their price objective on shares of Bank of Montreal from C$159.00 to C$176.00 in a research report on Wednesday, August 27th. TD Securities upped their price objective on shares of Bank of Montreal from C$164.00 to C$170.00 and gave the stock a “hold” rating in a research report on Wednesday, August 27th. National Bankshares set a C$173.00 target price on shares of Bank of Montreal and gave the stock an “outperform” rating in a research note on Monday. Barclays boosted their target price on shares of Bank of Montreal from C$150.00 to C$157.00 in a research note on Wednesday, August 27th. Finally, Royal Bank Of Canada boosted their target price on shares of Bank of Montreal from C$161.00 to C$168.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 27th.

Insider Transactions at Bank of Montreal

In other news, insider Steven Lloyd Tennyson sold 9,072 shares of the business’s stock in a transaction dated Friday, August 29th. The shares were sold at an average price of C$163.89, for a total transaction of C$1,486,782.86. Following the completion of the sale, the insider owned 21,866 shares of the company’s stock, valued at C$3,583,553.14. The trade was a 29.32% decrease in their ownership of the stock. Also, insider Alan Tannenbaum sold 9,824 shares of the business’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of C$175.12, for a total transaction of C$1,720,408.35. Insiders have sold 35,883 shares of company stock valued at $5,989,740 in the last three months. Corporate insiders own 0.03% of the company’s stock.

Bank of Montreal Stock Performance

Shares of Bank of Montreal stock opened at C$180.77 on Wednesday. The firm has a 50-day simple moving average of C$163.22 and a two-hundred day simple moving average of C$148.62. The company has a market cap of C$129.49 billion, a P/E ratio of 15.84, a price-to-earnings-growth ratio of 0.71 and a beta of 1.25. Bank of Montreal has a fifty-two week low of C$120.42 and a fifty-two week high of C$181.12.

Bank of Montreal Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 26th were paid a dividend of $1.63 per share. This is an increase from Bank of Montreal’s previous quarterly dividend of $1.59. This represents a $6.52 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend was Wednesday, July 30th. Bank of Montreal’s dividend payout ratio is presently 55.74%.

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.