Canaccord Genuity Cuts Bank of Montreal (BMO) Price Target to C$99.00

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its target price lowered by Canaccord Genuity from C$103.00 to C$99.00 in a research note released on Wednesday morning.

BMO has been the subject of several other reports. CIBC dropped their price objective on Bank of Montreal from C$101.00 to C$100.00 in a research note on Wednesday, August 30th. Barclays PLC raised their price objective on Bank of Montreal from C$98.00 to C$99.00 in a research note on Friday, August 11th. Finally, Scotiabank dropped their price objective on Bank of Montreal from C$103.00 to C$101.00 and set an outperform rating for the company in a research note on Wednesday, August 30th. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Bank of Montreal presently has an average rating of Hold and an average target price of C$100.15.

Shares of Bank of Montreal (TSE:BMO) opened at C$99.27 on Wednesday.

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The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 28th. Shareholders of record on Wednesday, November 1st will be given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 3.63%. The ex-dividend date of this dividend is Tuesday, October 31st.

In other Bank of Montreal news, Director Philip Orsino acquired 17,800 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The shares were acquired at an average price of C$89.12 per share, for a total transaction of C$1,586,336.00. Also, insider Joanna Michelle Rotenberg sold 2,000 shares of the firm’s stock in a transaction on Friday, September 29th. The stock was sold at an average price of C$94.81, for a total value of C$189,620.00.

Bank of Montreal Company Profile

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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