Bank of Montreal (TSE:BMO) Price Target Lowered to C$135.00 at Canaccord Genuity Group

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its price target lowered by Canaccord Genuity Group from C$136.00 to C$135.00 in a report issued on Tuesday, BayStreet.CA reports.

A number of other research firms also recently weighed in on BMO. TD Securities reduced their target price on shares of Bank of Montreal from C$134.00 to C$130.00 in a report on Thursday, August 8th. UBS Group set a C$122.00 price objective on Bank of Montreal and gave the company a neutral rating in a research report on Tuesday, July 2nd. National Bankshares lowered their price objective on Bank of Montreal from C$143.00 to C$136.00 and set an outperform rating for the company in a research note on Thursday, May 30th. Cormark cut their target price on Bank of Montreal from C$141.00 to C$133.00 in a research report on Thursday, May 30th. Finally, Desjardins lowered their price target on Bank of Montreal from C$129.00 to C$125.00 and set a hold rating for the company in a research report on Tuesday, August 6th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of C$128.93.

Bank of Montreal Price Performance

TSE:BMO opened at C$116.35 on Tuesday. The company has a market cap of C$84.40 billion, a price-to-earnings ratio of 15.96, a PEG ratio of 0.54 and a beta of 1.19. Bank of Montreal has a 1 year low of C$102.67 and a 1 year high of C$133.95. The stock’s 50 day simple moving average is C$115.91 and its two-hundred day simple moving average is C$123.10.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last announced its quarterly earnings results on Wednesday, May 29th. The bank reported C$2.59 earnings per share for the quarter, missing the consensus estimate of C$2.74 by C($0.15). The business had revenue of C$7.97 billion during the quarter, compared to the consensus estimate of C$8.06 billion. Bank of Montreal had a return on equity of 7.28% and a net margin of 17.71%. As a group, analysts anticipate that Bank of Montreal will post 11.2532189 EPS for the current year.

Bank of Montreal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 27th. Investors of record on Tuesday, August 27th will be issued a dividend of $1.55 per share. This is a positive change from Bank of Montreal’s previous quarterly dividend of $1.51. The ex-dividend date is Tuesday, July 30th. This represents a $6.20 dividend on an annualized basis and a yield of 5.33%. Bank of Montreal’s dividend payout ratio (DPR) is presently 82.85%.

Bank of Montreal Company Profile

Bank of Montreal provides diversified financial services primarily in North America. It operates through Canadian P&C, U.S P&C, BMO Wealth Management, and BMO Capital Markets segments. The company's personal banking products and services include deposits, mortgages, home lending, consumer credit, small business lending, credit cards, cash management, financial and investment advice, and other banking services; and commercial banking products and services comprise various of financing options and treasury and payment solutions, as well as risk management products.