Bank of Montreal (TSE:BMO) Stock Price Expected to Rise, CIBC Analyst Says

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its price target raised by CIBC from C$154.00 to C$156.00 in a research note released on Wednesday morning,BayStreet.CA reports. They currently have an outperform rating on the bank’s stock.

Several other research analysts have also recently commented on the company. Canaccord Genuity Group increased their price target on Bank of Montreal from C$143.00 to C$148.00 in a research report on Friday, December 6th. Cibc World Mkts upgraded shares of Bank of Montreal from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 6th. Canaccord Genuity Group lifted their target price on Bank of Montreal from C$154.00 to C$165.00 and gave the stock a “buy” rating in a research note on Wednesday. Royal Bank of Canada increased their price target on Bank of Montreal from C$161.00 to C$163.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Jefferies Financial Group lifted their price objective on shares of Bank of Montreal from C$126.00 to C$140.00 in a research report on Tuesday, February 18th. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$148.23.

Bank of Montreal Stock Performance

Shares of Bank of Montreal stock opened at C$149.19 on Wednesday. The firm has a market cap of C$108.06 billion, a PE ratio of 14.73, a P/E/G ratio of 0.71 and a beta of 1.16. The business’s 50 day simple moving average is C$142.00 and its 200 day simple moving average is C$130.90. Bank of Montreal has a 52-week low of C$109.02 and a 52-week high of C$151.08.

Bank of Montreal Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Tuesday, April 29th will be issued a $1.59 dividend. This represents a $6.36 annualized dividend and a yield of 4.26%. Bank of Montreal’s payout ratio is 61.20%.

Insider Buying and Selling at Bank of Montreal

In other news, Director William Darryl White sold 11,376 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of C$140.79, for a total value of C$1,601,592.91. 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.