UBS Group Cuts Bank of Montreal (TSE:BMO) Price Target to C$146.00

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its price objective lowered by UBS Group from C$150.00 to C$146.00 in a research report released on Friday,BayStreet.CA reports.

Several other brokerages also recently weighed in on BMO. TD Securities increased their target price on shares of Bank of Montreal from C$114.00 to C$131.00 in a research note on Friday, November 15th. CIBC raised shares of Bank of Montreal from a “neutral” rating to an “outperform” rating and raised their price target for the stock from C$134.00 to C$150.00 in a research note on Friday, December 6th. 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. National Bankshares raised their price target on shares of Bank of Montreal from C$127.00 to C$148.00 in a report on Wednesday, November 20th. Finally, Royal Bank of Canada upgraded shares of Bank of Montreal from a “sector perform” rating to an “outperform” rating and raised their price target for the company from C$133.00 to C$161.00 in a report on Wednesday, January 8th. Five investment 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of C$137.92.

Bank of Montreal Stock Up 0.5 %

BMO stock opened at C$143.21 on Friday. 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 fifty day simple moving average of C$141.46 and a two-hundred day simple moving average of C$129.30. The firm has a market capitalization of C$103.73 billion, a P/E ratio of 14.14, a price-to-earnings-growth ratio of 0.71 and a beta of 1.16.

Bank of Montreal Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Wednesday, February 26th will be paid a $1.59 dividend. The ex-dividend date of this dividend is Thursday, January 30th. This represents a $6.36 dividend on an annualized basis and a yield of 4.44%. This is a boost from Bank of Montreal’s previous quarterly dividend of $1.55. Bank of Montreal’s dividend payout ratio (DPR) is currently 61.20%.

Insider Activity at Bank of Montreal

In other Bank of Montreal news, Director William Darryl White sold 11,376 shares of Bank of Montreal stock in a transaction on 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 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.