Scotiabank Issues Pessimistic Forecast for Bank of Montreal (TSE:BMO) Stock Price

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its price target decreased by Scotiabank from C$160.00 to C$159.00 in a research report released on Thursday morning,BayStreet.CA reports. Scotiabank currently has an outperform rating on the bank’s stock.

Several other equities analysts also recently commented on BMO. Royal Bank of Canada upgraded Bank of Montreal from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from C$133.00 to C$161.00 in a research report on Wednesday, January 8th. TD Securities raised their price target on Bank of Montreal from C$114.00 to C$131.00 in a report on Friday, November 15th. UBS Group lowered their target price on Bank of Montreal from C$150.00 to C$146.00 in a research note on Friday, February 14th. CIBC lifted their price objective on Bank of Montreal from C$150.00 to C$154.00 in a research note on Tuesday. Finally, National Bankshares lifted their price objective on Bank of Montreal from C$127.00 to C$148.00 in a research note on Wednesday, November 20th. Five 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. According to data from MarketBeat.com, Bank of Montreal presently has an average rating of “Moderate Buy” and a consensus target price of C$139.50.

Bank of Montreal Trading Down 0.5 %

Shares of BMO stock opened at C$142.99 on Thursday. The stock has a 50 day moving average of C$141.54 and a two-hundred day moving average of C$129.95. Bank of Montreal has a 12 month low of C$109.02 and a 12 month high of C$147.54. The company has a market capitalization of C$103.57 billion, a P/E ratio of 14.12, a P/E/G ratio of 0.71 and a beta of 1.16.

Bank of Montreal Increases Dividend

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

Insider Buying and Selling

In related news, Director William Darryl White sold 11,376 shares of the company’s stock in a transaction dated 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.