Bank of Montreal (TSE:BMO) Price Target Cut to C$145.00 by Analysts at UBS Group

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its price target reduced by UBS Group from C$160.00 to C$145.00 in a report issued on Tuesday morning,BayStreet.CA reports.

A number of other equities research analysts also recently issued reports on BMO. Scotiabank reduced their price target on shares of Bank of Montreal from C$160.00 to C$159.00 and set an “outperform” rating for the company in a research report on Thursday, February 20th. Canaccord Genuity Group lifted their price target on shares of Bank of Montreal from C$154.00 to C$165.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th. Royal Bank of Canada set a C$163.00 price target on shares of Bank of Montreal and gave the company an “outperform” rating in a research report on Monday, March 17th. Desjardins lifted their price target on shares of Bank of Montreal from C$147.00 to C$155.00 and gave the company a “hold” rating in a research report on Wednesday, February 26th. Finally, CIBC downgraded Bank of Montreal from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from C$152.00 to C$141.00 in a research report on Friday, April 4th. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of C$143.69.

Bank of Montreal Trading Up 0.1%

BMO stock opened at C$141.98 on Tuesday. The firm has a 50 day moving average of C$134.40 and a 200-day moving average of C$137.33. Bank of Montreal has a 12-month low of C$109.02 and a 12-month high of C$151.08. The company has a market cap of C$102.84 billion, a price-to-earnings ratio of 14.02, a PEG ratio of 0.71 and a beta of 1.16.

Bank of Montreal Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 27th will be paid a $1.59 dividend. The ex-dividend date is Tuesday, April 29th. This represents a $6.36 annualized dividend and a yield of 4.48%. Bank of Montreal’s payout ratio is currently 61.20%.

Insider Activity

In other news, Senior Officer Nadim Hirji sold 3,238 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of C$148.87, for a total transaction of C$482,024.87. Corporate 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.