Scotiabank Cuts Bank of Montreal (TSE:BMO) Price Target to C$159.00

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its price objective cut by Scotiabank from C$160.00 to C$159.00 in a research note issued to investors on Thursday,BayStreet.CA reports. They currently have an outperform rating on the bank’s stock.

BMO has been the subject of several other reports. Canaccord Genuity Group boosted their target price on shares of Bank of Montreal from C$143.00 to C$148.00 in a research report on Friday, December 6th. Cibc World Mkts upgraded Bank of Montreal from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 6th. National Bankshares upped their price objective on shares of Bank of Montreal from C$127.00 to C$148.00 in a research report on Wednesday, November 20th. Jefferies Financial Group lifted their target price on shares of Bank of Montreal from C$126.00 to C$140.00 in a research report on Tuesday, February 18th. Finally, TD Securities boosted their target price on Bank of Montreal from C$114.00 to C$131.00 in a research note on Friday, November 15th. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$139.50.

Bank of Montreal Stock Down 0.0 %

TSE BMO opened at C$142.96 on Thursday. The business has a 50 day moving average price of C$141.58 and a 200-day moving average price of C$130.10. Bank of Montreal has a 52 week low of C$109.02 and a 52 week high of C$147.54. The company has a market cap of C$103.55 billion, a price-to-earnings ratio of 14.11, a P/E/G ratio of 0.71 and a beta of 1.16.

Bank of Montreal Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 26th will be given a $1.59 dividend. The ex-dividend date of this dividend is Thursday, January 30th. This represents a $6.36 annualized dividend and a dividend yield of 4.45%. This is a positive change from Bank of Montreal’s previous quarterly dividend of $1.55. Bank of Montreal’s payout ratio is 61.20%.

Insider Activity at Bank of Montreal

In related news, Director William Darryl White sold 11,376 shares of the business’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of C$140.79, for a total transaction of C$1,601,592.91. 0.03% of the stock is currently owned by corporate insiders.

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.