Bank of Montreal (TSE:BMO) Stock Rating Lowered by Cibc World Mkts

Cibc World Mkts downgraded shares of Bank of Montreal (TSE:BMO) (NYSE:BMO) from a strong-buy rating to a hold rating in a research note released on Friday,Zacks.com reports.

A number of other research analysts also recently commented on the stock. National Bankshares upped their price objective on shares of Bank of Montreal from C$153.00 to C$161.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. Scotiabank dropped 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. Desjardins increased their price target on shares of Bank of Montreal from C$147.00 to C$155.00 and gave the stock a “hold” rating in a research note on Wednesday, February 26th. Jefferies Financial Group boosted their price objective on shares of Bank of Montreal from C$140.00 to C$155.00 and gave the company a “hold” rating in a research note on Wednesday, February 26th. Finally, Canaccord Genuity Group increased their target price on Bank of Montreal from C$143.00 to C$148.00 in a research report on Friday, December 6th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Bank of Montreal has an average rating of “Hold” and an average target price of C$148.15.

Bank of Montreal Stock Down 6.1 %

Shares of TSE:BMO opened at C$127.04 on Friday. The company has a market cap of C$92.02 billion, a P/E ratio of 12.54, a P/E/G ratio of 0.71 and a beta of 1.16. The business has a fifty day simple moving average of C$141.56 and a 200-day simple moving average of C$135.54. Bank of Montreal has a 52 week low of C$109.02 and a 52 week high of C$151.08.

Bank of Montreal Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 27th will be issued a $1.59 dividend. This represents a $6.36 dividend on an annualized basis and a yield of 5.01%. The ex-dividend date of this dividend is Tuesday, April 29th. Bank of Montreal’s dividend payout ratio is presently 61.20%.

Insider Activity

In other Bank of Montreal news, Senior Officer Nadim Hirji sold 3,238 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of C$148.87, for a total value of C$482,024.87. Insiders own 0.03% of the company’s stock.

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.