Bank of Montreal (TSE:BMO) Upgraded at Raymond James Financial

Raymond James Financial upgraded shares of Bank of Montreal (TSE:BMO) (NYSE:BMO) to a hold rating in a research report released on Monday morning, MarketBeat reports.

Other analysts also recently issued research reports about the stock. Cibc World Mkts upgraded shares of Bank of Montreal from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 5th. CIBC boosted their price target on shares of Bank of Montreal from C$180.00 to C$192.00 in a research report on Wednesday, November 19th. National Bankshares downgraded shares of Bank of Montreal from an “outperform” rating to a “sector perform” rating and upped their price objective for the company from C$173.00 to C$181.00 in a research note on Monday, November 17th. Scotiabank set a C$179.00 target price on Bank of Montreal and gave the stock a “sector perform” rating in a research report on Tuesday. Finally, Barclays boosted their target price on Bank of Montreal from C$157.00 to C$177.00 and gave the company an “equal weight” rating in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, Bank of Montreal has an average rating of “Hold” and a consensus price target of C$173.54.

Bank of Montreal Stock Up 0.8%

BMO stock opened at C$176.07 on Monday. The business has a 50 day moving average price of C$176.45 and a 200 day moving average price of C$162.31. The stock has a market cap of C$126.12 billion, a price-to-earnings ratio of 15.43, a PEG ratio of 0.71 and a beta of 1.38. Bank of Montreal has a fifty-two week low of C$121.31 and a fifty-two week high of C$182.90.

Bank of Montreal Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Wednesday, November 26th were paid a $1.63 dividend. The ex-dividend date was Thursday, October 30th. This represents a $6.52 dividend on an annualized basis and a yield of 3.7%. Bank of Montreal’s payout ratio is currently 55.74%.

Insider Transactions at Bank of Montreal

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