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

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its target price raised by National Bankshares from C$161.00 to C$173.00 in a research note issued to investors on Wednesday,BayStreet.CA reports.

Several other research analysts have also commented on BMO. CIBC raised their price objective on Bank of Montreal from C$156.00 to C$173.00 and gave the company a “negative” rating in a research report on Wednesday, August 20th. Royal Bank Of Canada cut their price objective on Bank of Montreal from C$163.00 to C$161.00 and set an “outperform” rating on the stock in a research report on Monday, June 9th. Canaccord Genuity Group set a C$166.00 price objective on Bank of Montreal and gave the company a “buy” rating in a research report on Tuesday, June 24th. Barclays raised their price objective on Bank of Montreal from C$150.00 to C$157.00 in a research report on Wednesday. Finally, Jefferies Financial Group raised their price objective on Bank of Montreal from C$150.00 to C$164.00 in a research report on Wednesday, August 13th. Three equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of C$166.42.

Bank of Montreal Trading Down 0.6%

Shares of Bank of Montreal stock opened at C$164.22 on Wednesday. The business’s fifty day moving average price is C$154.44 and its 200 day moving average price is C$144.65. Bank of Montreal has a twelve month low of C$109.22 and a twelve month high of C$166.59. The stock has a market capitalization of C$118.95 billion, a P/E ratio of 16.21, a PEG ratio of 0.71 and a beta of 1.16.

Bank of Montreal Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 26th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Wednesday, July 30th. This is a positive change 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 4.0%. Bank of Montreal’s dividend payout ratio is presently 61.20%.

Insider Activity

In other news, Senior Officer Erminia Johannson sold 4,676 shares of Bank of Montreal stock in a transaction dated Monday, June 9th. The stock was sold at an average price of C$147.57, for a total transaction of C$690,023.29. 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.