Royal Bank of Canada Reiterates C$163.00 Price Target for Bank of Montreal (TSE:BMO)

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

Several other equities analysts have also weighed in on the stock. National Bankshares upped their price objective on shares of Bank of Montreal from C$153.00 to C$161.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. Scotiabank lowered their target price on shares of Bank of Montreal from C$160.00 to C$159.00 and set an “outperform” rating on the stock in a report on Thursday, February 20th. Desjardins upped their target price on shares of Bank of Montreal from C$147.00 to C$155.00 and gave the stock a “hold” rating in a report on Wednesday, February 26th. Cibc World Mkts upgraded shares of Bank of Montreal from a “hold” rating to a “strong-buy” rating in a report on Friday, December 6th. Finally, TD Securities upped their target price on shares of Bank of Montreal from C$145.00 to C$152.00 and gave the stock a “hold” rating in a report on Tuesday, March 4th. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Bank of Montreal has an average rating of “Moderate Buy” and an average target price of C$149.00.

Bank of Montreal Trading Up 0.7 %

Shares of TSE BMO opened at C$140.53 on Monday. The firm’s 50-day moving average price is C$142.76 and its 200-day moving average price is C$133.76. Bank of Montreal has a 1-year low of C$109.02 and a 1-year high of C$151.08. The firm has a market capitalization of C$101.79 billion, a P/E ratio of 13.87, a P/E/G ratio of 0.71 and a beta of 1.16.

Bank of Montreal Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Tuesday, April 29th will be given a $1.59 dividend. This represents a $6.36 dividend on an annualized basis and a yield of 4.53%. Bank of Montreal’s payout ratio is 61.20%.

Insiders Place Their Bets

In other news, Senior Officer Nadim Hirji sold 3,238 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of C$148.87, for a total transaction of C$482,024.87. 0.03% of the stock is currently owned by 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.