Bank of Montreal (TSE:BMO) Given Average Rating of “Moderate Buy” by Brokerages

Posted by Defense World Staff on Aug 29th, 2023

Shares of Bank of Montreal (TSE:BMO – Get Free Report) (NYSE:BMO) have been assigned a consensus rating of “Moderate Buy” from the nine analysts that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is C$134.55.

A number of brokerages have recently issued reports on BMO. Canaccord Genuity Group reduced their price objective on Bank of Montreal from C$130.00 to C$121.50 in a research note on Thursday, May 25th. Scotiabank reduced their price target on Bank of Montreal from C$151.00 to C$143.00 in a report on Thursday, May 25th. CIBC reduced their price target on Bank of Montreal from C$134.00 to C$120.00 and set a “neutral” rating on the stock in a report on Tuesday, August 22nd. Royal Bank of Canada reduced their price target on Bank of Montreal from C$151.00 to C$143.00 and set an “outperform” rating on the stock in a report on Thursday, May 25th. Finally, Bank of America reduced their price target on Bank of Montreal from C$134.00 to C$125.00 in a report on Thursday, May 25th.

Read Our Latest Stock Analysis on BMO

Bank of Montreal Trading Up 1.7 %

Shares of TSE:BMO opened at C$114.07 on Tuesday. The stock’s 50-day moving average price is C$118.67 and its 200-day moving average price is C$120.50. Bank of Montreal has a 12-month low of C$111.32 and a 12-month high of C$137.64. The stock has a market capitalization of C$81.34 billion, a P/E ratio of 11.36, a price-to-earnings-growth ratio of 1.49 and a beta of 1.14.

Bank of Montreal Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 28th. Stockholders of record on Monday, August 28th were given a $1.47 dividend. This is a boost from Bank of Montreal’s previous quarterly dividend of $1.43. This represents a $5.88 dividend on an annualized basis and a dividend yield of 5.15%. The ex-dividend date was Thursday, July 27th. Bank of Montreal’s payout ratio is currently 58.57%.

Insider Transactions at Bank of Montreal

In related news, Director Linda Susan Huber sold 500 shares of the company’s stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of C$87.56, for a total value of C$43,780.00. Insiders own 0.03% of the company’s stock.

About Bank of Montreal

(Get Free Report

Bank of Montreal provides diversified financial services primarily in North America. The company's personal banking products and services include checking and savings accounts, credit cards, mortgages, and financial and investment advice services; and commercial banking products and services comprise business deposit accounts, commercial credit cards, business loans and commercial mortgages, cash management solutions, foreign exchange, specialized banking programs, treasury and payment solutions, and risk management products for small business and commercial banking customers.