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

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its price target lifted by Royal Bank of Canada from C$161.00 to C$163.00 in a research report report published on Wednesday morning,BayStreet.CA reports. The brokerage currently has an outperform rating on the bank’s stock.

Other research analysts have also recently issued reports about the stock. Canaccord Genuity Group boosted their target price on shares of Bank of Montreal from C$154.00 to C$165.00 and gave the stock a “buy” rating in a research report on Wednesday. Cibc World Mkts upgraded shares of Bank of Montreal from a “hold” rating to a “strong-buy” rating in a report on Friday, December 6th. Canaccord Genuity Group raised their target price on Bank of Montreal from C$143.00 to C$148.00 in a research note on Friday, December 6th. UBS Group dropped their target price on Bank of Montreal from C$150.00 to C$146.00 in a research report on Friday, February 14th. Finally, Scotiabank reduced their price target on Bank of Montreal from C$160.00 to C$159.00 and set an “outperform” rating for the company in a report on Thursday, February 20th. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of C$148.23.

Bank of Montreal Stock Performance

Bank of Montreal stock opened at C$149.19 on Wednesday. The firm has a market capitalization of C$108.06 billion, a PE ratio of 14.73, a price-to-earnings-growth ratio of 0.71 and a beta of 1.16. Bank of Montreal has a one year low of C$109.02 and a one year high of C$151.08. The stock’s 50 day moving average price is C$142.00 and its 200 day moving average price is C$130.90.

Bank of Montreal Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Tuesday, April 29th will be given a dividend of $1.59 per share. This represents a $6.36 dividend on an annualized basis and a yield of 4.26%. Bank of Montreal’s dividend payout ratio is currently 61.20%.

Insider Buying and Selling

In other Bank of Montreal news, Director William Darryl White sold 11,376 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were 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 owned by company insiders.

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.