Scotiabank Reiterates “Sector Perform” Rating for Bank of Montreal (BMO)
Bank of Montreal (TSE:BMO)‘s stock had its “sector perform” rating restated by equities researchers at Scotiabank in a research note issued to investors on Tuesday. They presently have a C$86.00 price objective on the stock. Scotiabank’s price target suggests a potential upside of 1.59% from the stock’s previous close.
Several other analysts have also recently weighed in on the company. Dundee Securities reduced their price target on Bank of Montreal from C$91.00 to C$90.00 and set a “neutral” rating on the stock in a report on Tuesday, October 4th. Desjardins upped their target price on Bank of Montreal from C$82.00 to C$84.00 and gave the company a “hold” rating in a report on Wednesday, August 3rd. Barclays PLC upped their target price on Bank of Montreal from C$70.00 to C$75.00 and gave the company an “underweight” rating in a report on Wednesday, August 17th. Citigroup Inc. upped their target price on Bank of Montreal from C$89.00 to C$95.00 in a report on Wednesday, September 14th. Finally, Keefe, Bruyette & Woods upped their target price on Bank of Montreal from C$81.00 to C$84.00 in a report on Thursday, August 18th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of C$87.73.
Bank of Montreal (TSE:BMO) traded up 0.65% during mid-day trading on Tuesday, hitting $85.20. 1,046,500 shares of the stock were exchanged. The stock has a 50 day moving average price of $85.56 and a 200 day moving average price of $83.30. Bank of Montreal has a 1-year low of $68.65 and a 1-year high of $87.92. The company has a market capitalization of $54.95 billion and a PE ratio of 12.68.
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The company also recently announced a quarterly dividend, which will be paid on Monday, November 28th. Stockholders of record on Tuesday, November 1st will be given a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a dividend yield of 4.06%.
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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