Bank of Montreal (BMO) Price Target Cut to C$86.00 by Analysts at Scotiabank
Bank of Montreal (TSE:BMO) had its price target reduced by equities research analysts at Scotiabank from C$89.00 to C$86.00 in a research note issued on Wednesday. The firm presently has a “sector perform” rating on the stock. Scotiabank’s target price points to a potential upside of 2.44% from the stock’s previous close.
A number of other equities research analysts also recently commented on the stock. Desjardins raised their price objective on shares of Bank of Montreal from C$82.00 to C$84.00 and gave the company a “hold” rating in a research report on Wednesday, August 3rd. Dundee Securities reduced their price objective on shares of Bank of Montreal from C$91.00 to C$90.00 and set a “neutral” rating for the company in a research report on Tuesday. Barclays PLC raised their price objective on shares of Bank of Montreal from C$70.00 to C$75.00 and gave the company an “underweight” rating in a research report on Wednesday, August 17th. Citigroup Inc. raised their price objective on shares of Bank of Montreal from C$89.00 to C$95.00 in a research report on Wednesday, September 14th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Bank of Montreal from C$81.00 to C$84.00 in a research report on Thursday, August 18th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of C$87.73.
Bank of Montreal (TSE:BMO) traded down 0.13% during midday trading on Wednesday, hitting $83.95. The stock had a trading volume of 1,256,837 shares. Bank of Montreal has a 12-month low of $68.65 and a 12-month high of $87.92. The stock has a 50-day moving average price of $85.76 and a 200 day moving average price of $83.03. The firm has a market cap of $54.15 billion and a P/E ratio of 12.49.
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The company also recently announced a quarterly dividend, which will be paid on Monday, November 28th. Shareholders of record on Tuesday, November 1st will be paid a $0.86 dividend. This represents a $3.44 annualized dividend and a yield of 4.10%.
Bank of Montreal Company Profile
Bank of Montreal (BMO) is a financial services company. The Bank provides a range of personal and commercial banking, wealth management and investment banking products and services. The Bank’s operating groups include Personal and Commercial Banking, Wealth Management, BMO Capital Markets (BMO CM) and Corporate Services, including Technology and Operations.
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