Barclays Increases Bank of Montreal (TSE:BMO) Price Target to C$150.00

Key Points

• Barclays raised its price target for Bank of Montreal stock from C$144.00 to C$150.00, maintaining an "equal weight" rating despite indicating a potential downside of 4.54% from the previous close.
• Other brokerages have varied opinions; Jefferies raised their target to C$164.00, while UBS reduced it to C$145.00, highlighting a mixed outlook among analysts.
• The current average rating for Bank of Montreal stock is "Hold" with a consensus target price of C$148.92 among analysts.

Bank of Montreal (TSE:BMO - Free Report) NYSE: BMO had its price objective increased by Barclays from C$144.00 to C$150.00 in a research report sent to investors on Thursday,BayStreet.CA reports. Barclays currently has an equal weight rating on the bank's stock.

Several other research analysts also recently commented on BMO. UBS Group cut their target price on Bank of Montreal from C$160.00 to C$145.00 in a research note on Thursday, May 22nd. CIBC raised their target price on Bank of Montreal from C$150.00 to C$156.00 and gave the stock a "neutral" rating in a research note on Thursday, June 5th. Scotiabank raised Bank of Montreal to a "hold" rating in a report on Thursday, May 15th. Desjardins raised their price target on Bank of Montreal from C$152.00 to C$156.00 and gave the company a "hold" rating in a report on Wednesday. Finally, Royal Bank Of Canada lowered their price target on Bank of Montreal from C$163.00 to C$161.00 and set an "outperform" rating on the stock in a report on Monday, June 9th. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of C$150.23.

Bank of Montreal Stock Performance

TSE BMO traded down C$0.90 during trading hours on Thursday, hitting C$156.70. The company had a trading volume of 2,259,130 shares, compared to its average volume of 2,981,820. Bank of Montreal has a 52 week low of C$109.22 and a 52 week high of C$158.00. The firm has a 50 day simple moving average of C$152.43 and a 200 day simple moving average of C$143.73. The firm has a market capitalization of C$113.50 billion, a price-to-earnings ratio of 15.47, a PEG ratio of 0.71 and a beta of 1.16.

Bank of Montreal Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Investors of record on Tuesday, August 26th will be issued a dividend of $1.63 per share. The ex-dividend date of this dividend is Wednesday, July 30th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.2%. This is a positive change from Bank of Montreal's previous quarterly dividend of $1.59. Bank of Montreal's payout ratio is 61.20%.

Insider Buying and Selling at Bank of Montreal

In related news, Senior Officer Erminia Johannson sold 4,676 shares of the firm's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of C$147.57, for a total transaction of C$690,023.29. Corporate insiders own 0.03% of the company's stock.

About Bank of Montreal

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.