Trading Report: The Bank of Montreal (BMO) Lowered to Underperform at CSFB

The Bank of Montreal (BMO) Lowered to Underperform at CSFB

Bank of Montreal (TSE:BMO) was downgraded by equities research analysts at CSFB from a “neutral” rating to an “underperform” rating in a research report issued on Wednesday, StockTargetPrices.com reports. They presently have a C$93.00 price objective on the stock, down from their prior price objective of C$98.00. CSFB’s price target points to a potential upside of 10.32% from the company’s current price.

Several other brokerages have also recently weighed in on BMO. Citigroup Inc. raised their price target on shares of Bank of Montreal from C$89.00 to C$95.00 in a research report on Wednesday, September 14th. Barclays PLC raised their price target on shares of Bank of Montreal from C$75.00 to C$77.00 and gave the company an “underweight” rating in a research report on Wednesday, August 24th. Keefe, Bruyette & Woods raised their price target on shares of Bank of Montreal from C$84.00 to C$85.00 in a research report on Wednesday, August 24th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a C$88.00 price target on shares of Bank of Montreal in a research report on Wednesday. Finally, CIBC raised their price target on shares of Bank of Montreal from C$88.00 to C$90.00 in a research report on Friday, September 2nd. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the stock. Bank of Montreal presently has an average rating of “Hold” and an average price target of C$87.73.

Shares of Bank of Montreal (TSE:BMO) traded down 0.23% during midday trading on Wednesday, hitting $84.11. The company had a trading volume of 596,682 shares. The company has a market capitalization of $54.25 billion and a price-to-earnings ratio of 12.51. Bank of Montreal has a 12-month low of $68.65 and a 12-month high of $87.92. The company’s 50-day moving average price is $85.74 and its 200 day moving average price is $82.98.

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The business also recently declared a quarterly dividend, which will be paid on Monday, November 28th. Stockholders of record on Tuesday, November 1st will be paid a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a dividend yield of 4.08%.

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