Bank of Montreal (TSE:BMO) Given a C$163.00 Price Target at Royal Bank of Canada

Royal Bank of Canada set a C$163.00 price target on Bank of Montreal (TSE:BMO) (NYSE:BMO) in a report released on Monday,BayStreet.CA reports. The brokerage currently has an outperform rating on the bank’s stock.

BMO has been the subject of several other reports. Scotiabank cut their price objective on shares of Bank of Montreal from C$160.00 to C$159.00 and set an “outperform” rating for the company in a report on Thursday, February 20th. CIBC cut their price objective on shares of Bank of Montreal from C$156.00 to C$152.00 in a report on Wednesday, March 5th. Desjardins raised their price objective on shares of Bank of Montreal from C$147.00 to C$155.00 and gave the stock a “hold” rating in a report on Wednesday, February 26th. UBS Group raised their price objective on shares of Bank of Montreal from C$146.00 to C$160.00 in a report on Friday, February 28th. Finally, TD Securities increased their target price on shares of Bank of Montreal from C$145.00 to C$152.00 and gave the stock a “hold” rating in a research note on Tuesday, March 4th. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Bank of Montreal presently has a consensus rating of “Moderate Buy” and a consensus target price of C$149.00.

Bank of Montreal Trading Up 0.7 %

BMO opened at C$140.53 on Monday. The company has a 50 day moving average of C$142.76 and a 200 day moving average of C$133.76. The company has a market cap of C$101.79 billion, a PE ratio of 13.87, a price-to-earnings-growth ratio of 0.71 and a beta of 1.16. Bank of Montreal has a 12 month low of C$109.02 and a 12 month high of C$151.08.

Bank of Montreal Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Tuesday, April 29th will be given a dividend of $1.59 per share. This represents a $6.36 annualized dividend and a dividend yield of 4.53%. Bank of Montreal’s dividend payout ratio (DPR) is currently 61.20%.

Insider Activity

In other news, Senior Officer Nadim Hirji sold 3,238 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of C$148.87, for a total transaction of C$482,024.87. Corporate 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.