Bank of Montreal (TSE:BMO) Upgraded to Outperform at Scotiabank

Scotiabank upgraded shares of Bank of Montreal (TSE:BMO) (NYSE:BMO) from a sector perform rating to an outperform rating in a research note issued to investors on Friday,BayStreet.CA reports. They currently have C$160.00 target price on the bank’s stock, up from their previous target price of C$147.00.

Other analysts have also recently issued research reports about the company. Bank of America cut Bank of Montreal from a “buy” rating to a “neutral” rating and lowered their price target for the company from C$134.00 to C$117.00 in a report on Wednesday, August 28th. Desjardins lowered their price target on Bank of Montreal from C$125.00 to C$120.00 and set a “hold” rating for the company in a report on Wednesday, August 28th. CIBC lifted their price target on Bank of Montreal from C$120.00 to C$134.00 in a report on Tuesday, November 26th. Jefferies Financial Group lowered their price target on Bank of Montreal from C$141.00 to C$124.00 and set a “buy” rating for the company in a report on Monday, August 12th. Finally, Canaccord Genuity Group boosted their target price on Bank of Montreal from C$125.00 to C$143.00 in a report on Tuesday, November 19th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Bank of Montreal currently has an average rating of “Moderate Buy” and a consensus target price of C$131.33.

Bank of Montreal Price Performance

BMO opened at C$146.32 on Friday. The stock has a market capitalization of C$106.73 billion, a price-to-earnings ratio of 16.84, a price-to-earnings-growth ratio of 0.71 and a beta of 1.16. The business has a 50-day moving average of C$128.38 and a two-hundred day moving average of C$121.59. Bank of Montreal has a 12 month low of C$109.02 and a 12 month high of C$147.54.

Bank of Montreal Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Thursday, January 30th will be issued a $1.59 dividend. This represents a $6.36 dividend on an annualized basis and a yield of 4.35%. This is a boost from Bank of Montreal’s previous quarterly dividend of $1.55. Bank of Montreal’s dividend payout ratio is currently 71.35%.

Insiders Place Their Bets

In other Bank of Montreal news, Senior Officer David Robert Casper sold 12,819 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of C$121.85, for a total value of C$1,562,007.97. 0.03% of the stock is owned by company insiders.

About Bank of Montreal

Bank of Montreal provides diversified financial services primarily in North America. It operates through Canadian P&C, U.S P&C, BMO Wealth Management, and BMO Capital Markets segments. The company's personal banking products and services include deposits, mortgages, home lending, consumer credit, small business lending, credit cards, cash management, financial and investment advice, and other banking services; and commercial banking products and services comprise various of financing options and treasury and payment solutions, as well as risk management products.