Bank of Montreal (TSE:BMO) Given a C$163.00 Price Target at Royal Bank of Canada

Royal Bank of Canada set a C$163.00 price objective on Bank of Montreal (TSE:BMO) (NYSE:BMO) in a research note published on Monday,BayStreet.CA reports. The firm currently has an outperform rating on the bank’s stock.

BMO has been the topic of a number of other research reports. Canaccord Genuity Group lifted their target price on Bank of Montreal from C$154.00 to C$165.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th. Desjardins lifted their target price on Bank of Montreal from C$147.00 to C$155.00 and gave the company a “hold” rating in a research report on Wednesday, February 26th. Canaccord Genuity Group lifted their target price on Bank of Montreal from C$143.00 to C$148.00 in a research report on Friday, December 6th. Cibc World Mkts raised Bank of Montreal from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 6th. Finally, National Bankshares lifted their target price on Bank of Montreal from C$153.00 to C$161.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of C$149.00.

Bank of Montreal Price Performance

TSE:BMO opened at C$140.04 on Monday. Bank of Montreal has a fifty-two week low of C$109.02 and a fifty-two week high of C$151.08. The stock has a market capitalization of C$101.43 billion, a PE ratio of 13.82, a price-to-earnings-growth ratio of 0.71 and a beta of 1.16. The business’s 50-day simple moving average is C$142.77 and its 200-day simple moving average is C$133.46.

Bank of Montreal Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Tuesday, April 29th will be paid a $1.59 dividend. This represents a $6.36 annualized dividend and a dividend yield of 4.54%. Bank of Montreal’s payout ratio is 61.20%.

Insider Activity

In related news, Senior Officer Nadim Hirji sold 3,238 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of C$148.87, for a total transaction of C$482,024.87. Insiders own 0.03% of the company’s stock.

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.