Bank of Montreal (TSE:BMO) Price Target Raised to C$173.00 at CIBC

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its price objective lifted by CIBC from C$156.00 to C$173.00 in a report released on Wednesday,BayStreet.CA reports. They currently have a negative rating on the bank’s stock.

BMO has been the topic of a number of other research reports. UBS Group cut their price objective on shares of Bank of Montreal from C$160.00 to C$145.00 in a research report on Thursday, May 22nd. National Bankshares boosted their price objective on shares of Bank of Montreal from C$160.00 to C$161.00 and gave the stock an “outperform” rating in a research report on Friday, August 15th. Barclays upped their price target on shares of Bank of Montreal from C$144.00 to C$150.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 14th. Jefferies Financial Group upped their price target on shares of Bank of Montreal from C$150.00 to C$164.00 in a research report on Wednesday, August 13th. Finally, Canaccord Genuity Group set a C$166.00 price target on shares of Bank of Montreal and gave the stock a “buy” rating in a research report on Tuesday, June 24th. Four research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of C$151.54.

Bank of Montreal Stock Down 0.3%

Shares of BMO stock opened at C$156.42 on Wednesday. The company’s fifty day simple moving average is C$152.97 and its 200-day simple moving average is C$143.99. The firm has a market cap of C$113.30 billion, a PE ratio of 15.44, a P/E/G ratio of 0.71 and a beta of 1.16. Bank of Montreal has a 12 month low of C$109.22 and a 12 month high of C$158.00.

Bank of Montreal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 26th will be issued a $1.63 dividend. This is an increase from Bank of Montreal’s previous quarterly dividend of $1.59. This represents a $6.52 annualized dividend and a dividend yield of 4.2%. The ex-dividend date is Wednesday, July 30th. Bank of Montreal’s dividend payout ratio is presently 61.20%.

Insider Activity at Bank of Montreal

In other Bank of Montreal news, Senior Officer Erminia Johannson sold 4,676 shares of the company’s stock in a transaction on Monday, June 9th. The shares were sold at an average price of C$147.57, for a total value of C$690,023.29. 0.03% of the stock is currently owned by corporate 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.