The CSFB lowers the Stock rating of Bank of Montreal (BMO)

The CSFB lowers the Stock rating of Bank of Montreal (BMO)

Bank of Montreal (TSE:BMO) was downgraded by investment analysts at CSFB from a “neutral” rating to an “underperform” rating in a research report issued on Wednesday. They presently have a C$93.00 price objective on the stock, down from their previous price objective of C$98.00. CSFB’s price target would suggest a potential upside of 10.78% from the company’s previous close.

BMO has been the subject of a number of other research reports. Desjardins increased their target price on shares of Bank of Montreal from C$82.00 to C$84.00 and gave the stock a “hold” rating in a research report on Wednesday, August 3rd. Barclays PLC increased their target price on shares of Bank of Montreal from C$70.00 to C$75.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 17th. Keefe, Bruyette & Woods increased their target price on shares of Bank of Montreal from C$81.00 to C$84.00 in a research report on Thursday, August 18th. CIBC increased their target price on shares of Bank of Montreal from C$85.00 to C$88.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 24th. Finally, Royal Bank Of Canada increased their target price on shares of Bank of Montreal from C$84.00 to C$88.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 24th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of C$87.73.

Shares of Bank of Montreal (TSE:BMO) traded down 0.13% during mid-day trading on Wednesday, hitting $83.95. 1,256,837 shares of the stock were exchanged. The firm has a market cap of $54.15 billion and a price-to-earnings ratio of 12.49. Bank of Montreal has a 1-year low of $68.65 and a 1-year high of $87.92. The company’s 50-day moving average is $85.76 and its 200-day moving average is $83.03.

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The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 28th. Investors 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 yield of 4.10%.

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