Analysts Set Bank of Montreal (TSE:BMO) Price Target at C$167.42

Key Points

• Bank of Montreal has received a consensus recommendation of "Moderate Buy" from ten covering brokerages, with an average 12-month price target of C$167.42.
• The bank recently increased its quarterly dividend to $1.63 per share, representing a 3.7% yield, up from the previous dividend of $1.59.
• Insider activity included a notable sale, as Alan Tannenbaum sold 9,824 shares at an average price of C$175.12, totaling over C$1.7 million.

Bank of Montreal (TSE:BMO - Get Free Report) NYSE: BMO has been given an average rating of "Moderate Buy" by the ten analysts that are presently covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is C$167.42.

BMO has been the subject of a number of analyst reports. TD Securities raised their price target on Bank of Montreal from C$164.00 to C$170.00 and gave the stock a "hold" rating in a report on Wednesday, August 27th. Cibc World Mkts raised Bank of Montreal from a "hold" rating to a "strong-buy" rating in a report on Friday, September 5th. Desjardins raised their price target on Bank of Montreal from C$156.00 to C$165.00 and gave the stock a "hold" rating in a report on Wednesday, August 27th. National Bankshares raised their price target on Bank of Montreal from C$161.00 to C$173.00 in a report on Wednesday, August 27th. Finally, Canaccord Genuity Group raised their price target on Bank of Montreal from C$180.00 to C$185.00 and gave the stock a "buy" rating in a report on Friday, September 5th.

Bank of Montreal Stock Up 0.8%

Bank of Montreal stock traded up C$1.35 during trading on Wednesday, hitting C$179.87. The stock had a trading volume of 5,180,662 shares, compared to its average volume of 2,866,759. Bank of Montreal has a 1 year low of C$120.20 and a 1 year high of C$181.00. The stock's 50 day moving average is C$162.23 and its two-hundred day moving average is C$148.04. The stock has a market cap of C$128.84 billion, a price-to-earnings ratio of 15.76, a price-to-earnings-growth ratio of 0.71 and a beta of 1.25.

Bank of Montreal Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Tuesday, August 26th were paid a $1.63 dividend. This is a boost from Bank of Montreal's previous quarterly dividend of $1.59. This represents a $6.52 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Wednesday, July 30th. Bank of Montreal's payout ratio is currently 55.74%.

Insider Buying and Selling

In related news, insider Alan Tannenbaum sold 9,824 shares of the stock in a transaction on Thursday, September 11th. The stock was sold at an average price of C$175.12, for a total value of C$1,720,408.35. 0.03% of the stock is currently owned by corporate insiders.

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.