Desjardins Issues Positive Forecast for Bank of Montreal (TSE:BMO) Stock Price

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its price objective boosted by Desjardins from C$147.00 to C$155.00 in a research note published on Wednesday morning,BayStreet.CA reports. The brokerage currently has a hold rating on the bank’s stock.

Several other research analysts have also recently issued reports on BMO. Canaccord Genuity Group upped their price objective on Bank of Montreal from C$143.00 to C$148.00 in a research report on Friday, December 6th. CIBC boosted their target price on Bank of Montreal from C$150.00 to C$154.00 in a report on Tuesday, February 18th. Scotiabank reduced their target price on Bank of Montreal from C$160.00 to C$159.00 and set an “outperform” rating for the company in a report on Thursday, February 20th. Jefferies Financial Group boosted their target price on Bank of Montreal from C$126.00 to C$140.00 in a report on Tuesday, February 18th. Finally, National Bankshares boosted their target price on Bank of Montreal from C$127.00 to C$148.00 in a report on Wednesday, November 20th. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$148.23.

Bank of Montreal Stock Performance

TSE:BMO opened at C$149.19 on Wednesday. The stock has a 50-day simple moving average of C$142.00 and a 200-day simple moving average of C$130.90. The stock has a market cap of C$108.06 billion, a P/E ratio of 14.73, a P/E/G ratio of 0.71 and a beta of 1.16. Bank of Montreal has a 1 year low of C$109.02 and a 1 year high of C$151.08.

Bank of Montreal Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Tuesday, April 29th will be given a dividend of $1.59 per share. This represents a $6.36 annualized dividend and a yield of 4.26%. Bank of Montreal’s payout ratio is 61.20%.

Insiders Place Their Bets

In other Bank of Montreal news, Director William Darryl White sold 11,376 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of C$140.79, for a total transaction of C$1,601,592.91. 0.03% of the stock is currently owned by insiders.

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.