Bank of Montreal (TSE:BMO) Stock Crosses Below 200-Day Moving Average of $138.54

Posted by MarketBeat News on Aug 2nd, 2022

Bank of Montreal (TSE:BMO – Get Rating) (NYSE:BMO) shares crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$138.54 and traded as low as C$126.76. Bank of Montreal shares last traded at C$127.66, with a volume of 2,768,240 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Scotiabank upped their price objective on Bank of Montreal from C$158.00 to C$159.00 in a research note on Thursday, May 26th. CSFB reduced their price objective on Bank of Montreal from C$159.00 to C$157.00 in a research note on Thursday, May 26th. TD Securities reduced their price objective on Bank of Montreal from C$160.00 to C$155.00 and set a “buy” rating for the company in a research note on Thursday, May 26th. National Bankshares upped their price objective on Bank of Montreal from C$151.00 to C$152.00 and gave the company a “sector perform” rating in a research note on Thursday, May 26th. Finally, Canaccord Genuity Group boosted their target price on Bank of Montreal from C$155.00 to C$157.00 in a research report on Thursday, May 26th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Bank of Montreal has a consensus rating of “Moderate Buy” and a consensus price target of C$147.31.

Bank of Montreal Stock Performance

The firm has a market cap of C$86.11 billion and a price-to-earnings ratio of 7.01. The business has a fifty day moving average of C$128.24 and a two-hundred day moving average of C$138.54.

Bank of Montreal (TSE:BMO – Get Rating) (NYSE:BMO) last released its quarterly earnings results on Wednesday, May 25th. The bank reported C$3.23 earnings per share for the quarter, topping analysts’ consensus estimates of C$3.12 by C$0.11. The firm had revenue of C$9.32 billion during the quarter, compared to analyst estimates of C$6.66 billion. On average, equities research analysts forecast that Bank of Montreal will post 14.489999 earnings per share for the current year.

Bank of Montreal Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 26th. Shareholders of record on Tuesday, August 2nd will be issued a dividend of $1.39 per share. This represents a $5.56 dividend on an annualized basis and a yield of 4.36%. The ex-dividend date of this dividend is Friday, July 29th. This is a boost from Bank of Montreal’s previous quarterly dividend of $1.33. Bank of Montreal’s dividend payout ratio is 26.23%.

Bank of Montreal Company Profile

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Bank of Montreal provides diversified financial services primarily in North America. The company's personal banking products and services include checking and savings accounts, credit cards, mortgages, and financial and investment advice services; and commercial banking products and services comprise business deposit accounts, commercial credit cards, business loans and commercial mortgages, cash management solutions, foreign exchange, specialized banking programs, treasury and payment solutions, and risk management products for small business and commercial banking customers.