Bank of Montreal (BMO) Given New C$99.00 Price Target at Canaccord Genuity
Bank of Montreal (TSE:BMO) (NYSE:BMO) had its price objective dropped by equities research analysts at Canaccord Genuity from C$104.00 to C$99.00 in a research report issued to clients and investors on Friday. Canaccord Genuity’s price objective would suggest a potential upside of 1.05% from the stock’s previous close.
BMO has been the topic of a number of other research reports. CSFB cut Bank of Montreal from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from C$98.00 to C$93.00 in a research note on Wednesday, October 5th. Dundee Securities restated a “neutral” rating and issued a C$91.00 price target on shares of Bank of Montreal in a research note on Wednesday, September 21st. Scotiabank dropped their price target on Bank of Montreal from C$89.00 to C$86.00 and set a “sector perform” rating on the stock in a research note on Wednesday, October 5th. Royal Bank Of Canada restated a “sector perform” rating and issued a C$88.00 price target on shares of Bank of Montreal in a research note on Wednesday, October 5th. Finally, Desjardins increased their price target on Bank of Montreal from C$94.00 to C$96.00 in a research note on Wednesday, December 21st. One analyst has rated the stock with a sell rating and twelve have issued a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of C$94.88.
Shares of Bank of Montreal (TSE:BMO) traded up 0.02% on Friday, hitting $97.99. The company’s stock had a trading volume of 161,378 shares. The stock’s 50-day moving average price is $94.78 and its 200-day moving average price is $87.34. Bank of Montreal has a 52 week low of $68.65 and a 52 week high of $98.22. The firm has a market cap of $63.50 billion and a price-to-earnings ratio of 14.16.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 28th. Stockholders of record on Wednesday, February 1st will be issued a dividend of $0.88 per share. This is a positive change from Bank of Montreal’s previous quarterly dividend of $0.86. This represents a $3.52 annualized dividend and a dividend yield of 3.59%.
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About Bank of Montreal
Bank of Montreal (the Bank) is a financial services provider. The Bank provides a range of personal and commercial banking, wealth management and investment banking products and services. The Bank conducts its business through three operating groups: Personal and Commercial Banking (P&C), Wealth Management and BMO Capital Markets.
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