Bank of Montreal (TSE:BMO) Downgraded by TD Securities

TD Securities downgraded shares of Bank of Montreal (TSE:BMO) (NYSE:BMO) from a buy rating to a hold rating in a research report released on Wednesday morning, Marketbeat reports. TD Securities currently has C$114.00 price target on the bank’s stock, down from their prior price target of C$130.00.

BMO has been the subject of a number of other reports. National Bankshares cut their price objective on Bank of Montreal from C$131.00 to C$127.00 and set an outperform rating for the company in a research report on Wednesday. Scotiabank lowered their target price on Bank of Montreal from C$129.00 to C$123.00 in a research note on Monday, August 19th. Desjardins lowered their target price on Bank of Montreal from C$125.00 to C$120.00 and set a hold rating on the stock in a research note on Wednesday. Royal Bank of Canada lowered their target price on Bank of Montreal from C$118.00 to C$106.00 and set a sector perform rating on the stock in a research note on Wednesday. Finally, Canaccord Genuity Group lowered their target price on Bank of Montreal from C$135.00 to C$130.00 and set a buy rating on the stock in a research note on Wednesday. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of C$121.00.

Bank of Montreal Stock Up 0.7 %

BMO opened at C$112.71 on Wednesday. Bank of Montreal has a 12-month low of C$102.67 and a 12-month high of C$133.95. The stock has a market cap of C$82.21 billion, a price-to-earnings ratio of 12.97, a PEG ratio of 0.54 and a beta of 1.16. The business has a 50 day moving average of C$116.04 and a 200-day moving average of C$122.45.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last released its quarterly earnings data on Wednesday, May 29th. The bank reported C$2.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$2.74 by C($0.15). Bank of Montreal had a net margin of 21.21% and a return on equity of 8.19%. The business had revenue of C$7.97 billion during the quarter, compared to analyst estimates of C$8.06 billion. As a group, analysts expect that Bank of Montreal will post 11.472973 earnings per share for the current year.

Bank of Montreal Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Wednesday, October 30th will be paid a dividend of $1.55 per share. The ex-dividend date is Wednesday, October 30th. This represents a $6.20 dividend on an annualized basis and a yield of 5.50%. Bank of Montreal’s dividend payout ratio (DPR) is presently 71.35%.

About Bank of Montreal

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.