Bank of Montreal (TSE:BMO) Downgraded to Sector Perform Rating by National Bankshares

National Bankshares lowered shares of Bank of Montreal (TSE:BMO) (NYSE:BMO) from an outperform rating to a sector perform rating in a report published on Monday morning,BayStreet.CA reports. The brokerage currently has C$181.00 target price on the bank’s stock, up from their previous target price of C$173.00.

A number of other equities research analysts also recently weighed in on BMO. TD Securities boosted their price target on shares of Bank of Montreal from C$170.00 to C$182.00 in a report on Monday, November 10th. Desjardins lifted their target price on shares of Bank of Montreal from C$156.00 to C$165.00 and gave the company a “hold” rating in a research report on Wednesday, August 27th. Canaccord Genuity Group upped their target price on shares of Bank of Montreal from C$180.00 to C$185.00 and gave the company a “buy” rating in a research note on Friday, September 5th. Cibc World Mkts upgraded shares of Bank of Montreal from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 5th. Finally, CIBC raised Bank of Montreal from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from C$173.00 to C$180.00 in a report on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of C$169.50.

Bank of Montreal Trading Down 1.3%

Shares of TSE:BMO opened at C$171.68 on Monday. The firm has a market capitalization of C$122.98 billion, a PE ratio of 15.05, a PEG ratio of 0.71 and a beta of 1.38. Bank of Montreal has a 1-year low of C$121.31 and a 1-year high of C$182.90. The business’s 50 day moving average is C$177.04 and its 200-day moving average is C$160.73.

Bank of Montreal Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Wednesday, November 26th will be given a $1.63 dividend. The ex-dividend date is Thursday, October 30th. This represents a $6.52 annualized dividend and a yield of 3.8%. Bank of Montreal’s payout ratio is presently 55.74%.

Insiders Place Their Bets

In related news, insider Alan Tannenbaum sold 9,824 shares of Bank of Montreal stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of C$175.12, for a total value of C$1,720,408.35. Also, insider Steven Lloyd Tennyson sold 9,072 shares of the company’s stock in a transaction dated Friday, August 29th. The stock was sold at an average price of C$163.89, for a total transaction of C$1,486,782.86. Following the transaction, the insider owned 21,866 shares in the company, valued at approximately C$3,583,553.14. This trade represents a 29.32% decrease in their position. In the last three months, insiders sold 35,883 shares of company stock worth $5,989,740. 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.