Bank of Montreal (TSE:BMO) Given New C$122.00 Price Target at National Bankshares

Bank of Montreal (TSE:BMO – Get Rating) (NYSE:BMO) had its price objective cut by National Bankshares from C$129.00 to C$122.00 in a research note published on Thursday, BayStreet.CA reports. They currently have a sector perform rating on the bank’s stock.

BMO has been the topic of several other research reports. Barclays decreased their price target on Bank of Montreal from C$149.00 to C$127.00 in a research note on Tuesday, May 9th. CIBC dropped their target price on shares of Bank of Montreal from C$145.00 to C$139.00 in a research report on Tuesday, May 16th. Fundamental Research set a C$160.30 price target on shares of Bank of Montreal and gave the company a buy rating in a research report on Tuesday, March 14th. CSFB dropped their price objective on shares of Bank of Montreal from C$147.00 to C$139.00 in a report on Tuesday, May 16th. Finally, Royal Bank of Canada reduced their target price on Bank of Montreal from C$154.00 to C$151.00 in a report on Monday, March 27th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Bank of Montreal presently has a consensus rating of Hold and a consensus price target of C$138.59.

Bank of Montreal Price Performance

Shares of Bank of Montreal stock opened at C$113.00 on Thursday. Bank of Montreal has a 52-week low of C$111.88 and a 52-week high of C$138.85. The firm has a market capitalization of C$79.47 billion, a PE ratio of 5.65, a price-to-earnings-growth ratio of 1.49 and a beta of 1.13. The company’s fifty day moving average price is C$119.29 and its two-hundred day moving average price is C$125.80.

Bank of Montreal (TSE:BMO – Get Rating) (NYSE:BMO) last posted its quarterly earnings results on Tuesday, February 28th. The bank reported C$3.22 earnings per share (EPS) for the quarter, topping the consensus estimate of C$3.13 by C$0.09. The firm had revenue of C$6.47 billion during the quarter. Bank of Montreal had a net margin of 40.56% and a return on equity of 21.06%. Analysts predict that Bank of Montreal will post 13.4068182 earnings per share for the current fiscal year.

Bank of Montreal Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 28th. Stockholders of record on Friday, July 28th will be given a dividend of $1.47 per share. The ex-dividend date of this dividend is Thursday, July 27th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 5.20%. This is an increase from Bank of Montreal’s previous quarterly dividend of $1.43. Bank of Montreal’s payout ratio is presently 28.61%.

About Bank of Montreal

(Get Rating)

Bank of Montreal engages in the provision of diversified financial services primarily in North America. The company's personal banking products and services include checking and savings accounts, credit cards, mortgages, personal loans, small business lending, cash management, 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.