Bank of Montreal (TSE:BMO) Downgraded to “Hold” Rating by Cibc World Mkts

Cibc World Mkts lowered 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.

Several other equities analysts have also recently issued reports on the stock. 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. Canaccord Genuity Group increased their price target on shares of Bank of Montreal from C$154.00 to C$165.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. TD Securities lifted their price objective on Bank of Montreal from C$145.00 to C$152.00 and gave the company a “hold” rating in a report on Tuesday, March 4th. Scotiabank cut their target price on Bank of Montreal from C$160.00 to C$159.00 and set an “outperform” rating for the company in a research note on Thursday, February 20th. Finally, CIBC downgraded Bank of Montreal from an “outperform” rating to a “neutral” rating and decreased their price target for the company from C$152.00 to C$141.00 in a research note on Friday. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Bank of Montreal has a consensus rating of “Hold” and an average target price of C$148.15.

Bank of Montreal Trading Down 6.1 %

Shares of BMO stock opened at C$127.04 on Friday. The company has a market capitalization of C$92.02 billion, a P/E ratio of 12.54, a price-to-earnings-growth ratio of 0.71 and a beta of 1.16. The business’s 50 day moving average is C$141.56 and its two-hundred day moving average is C$135.54. Bank of Montreal has a twelve month low of C$109.02 and a twelve month high of C$151.08.

Bank of Montreal Dividend Announcement

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

Insider Buying and Selling

In other Bank of Montreal news, Senior Officer Nadim Hirji sold 3,238 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of C$148.87, for a total transaction 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.