Bank of Montreal (TSE:BMO) Upgraded by CIBC to "Outperform" Rating

CIBC upgraded shares of Bank of Montreal (TSE:BMO - Free Report) NYSE: BMO from a neutral rating to an outperform rating in a research note published on Friday,BayStreet.CA reports. CIBC currently has C$150.00 target price on the bank's stock, up from their prior target price of C$134.00.

Other equities analysts have also recently issued research reports about the stock. Desjardins cut their target price on shares of Bank of Montreal from C$125.00 to C$120.00 and set a "hold" rating on the stock in a report on Wednesday, August 28th. Royal Bank of Canada reduced their price objective on Bank of Montreal from C$118.00 to C$106.00 and set a "sector perform" rating for the company in a research report on Wednesday, August 28th. Bank of America lowered Bank of Montreal from a "buy" rating to a "neutral" rating and dropped their target price for the stock from C$134.00 to C$117.00 in a research report on Wednesday, August 28th. TD Securities boosted their price target on shares of Bank of Montreal from C$114.00 to C$131.00 in a report on Friday, November 15th. Finally, Scotiabank raised shares of Bank of Montreal from a "sector perform" rating to an "outperform" rating and increased their price objective for the stock from C$147.00 to C$160.00 in a report on Friday. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of C$131.33.

Bank of Montreal Stock Up 4.7 %

Shares of TSE:BMO traded up C$6.59 on Friday, reaching C$146.32. 3,542,150 shares of the company's stock were exchanged, compared to its average volume of 2,923,753. The business's 50-day moving average is C$128.88 and its two-hundred day moving average is C$121.72. Bank of Montreal has a fifty-two week low of C$109.02 and a fifty-two week high of C$147.54. The firm has a market capitalization of C$106.73 billion, a price-to-earnings ratio of 16.84, a PEG ratio of 0.71 and a beta of 1.16.

Bank of Montreal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Thursday, January 30th will be paid a dividend of $1.59 per share. This represents a $6.36 dividend on an annualized basis and a dividend yield of 4.35%. This is a positive change from Bank of Montreal's previous quarterly dividend of $1.55. Bank of Montreal's dividend payout ratio (DPR) is currently 71.35%.

Insiders Place Their Bets

In other news, Senior Officer David Robert Casper sold 12,819 shares of the firm's stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of C$121.85, for a total transaction of C$1,562,007.97. 0.03% of the stock is currently owned by 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.