Desjardins Issues Positive Forecast for Bank of Montreal (TSE:BMO) Stock Price

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its target price raised by Desjardins from C$156.00 to C$165.00 in a report published on Wednesday morning,BayStreet.CA reports. Desjardins currently has a hold rating on the bank’s stock.

BMO has been the subject of several other reports. Scotiabank upgraded Bank of Montreal to a “hold” rating in a report on Thursday, May 15th. UBS Group reduced their price objective on Bank of Montreal from C$160.00 to C$145.00 in a report on Thursday, May 22nd. Royal Bank Of Canada lifted their price objective on Bank of Montreal from C$161.00 to C$168.00 and gave the stock an “outperform” rating in a report on Wednesday. CIBC lifted their price objective on Bank of Montreal from C$156.00 to C$173.00 and gave the stock a “negative” rating in a report on Wednesday, August 20th. Finally, National Bankshares lifted their price objective on Bank of Montreal from C$161.00 to C$173.00 in a report on Wednesday. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of C$166.42.

Bank of Montreal Price Performance

Shares of TSE:BMO opened at C$164.22 on Wednesday. Bank of Montreal has a 1-year low of C$109.22 and a 1-year high of C$166.59. The business has a fifty day moving average price of C$154.44 and a 200-day moving average price of C$144.65. The company has a market capitalization of C$118.95 billion, a PE ratio of 16.21, a PEG ratio of 0.71 and a beta of 1.16.

Bank of Montreal Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 26th were given a $1.63 dividend. 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 annualized dividend and a yield of 4.0%. Bank of Montreal’s payout ratio is 61.20%.

Insider Transactions at Bank of Montreal

In other Bank of Montreal news, Senior Officer Erminia Johannson sold 4,676 shares of the firm’s stock in a transaction dated Monday, June 9th. The stock was sold at an average price of C$147.57, for a total value of C$690,023.29. Insiders own 0.03% of the company’s stock.

Bank of Montreal Company Profile

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.