Bank of Montreal (TSE:BMO) Price Target Cut to C$143.00 by Analysts at Royal Bank of Canada

Bank of Montreal (TSE:BMO – Get Rating) (NYSE:BMO) had its price objective lowered by Royal Bank of Canada from C$151.00 to C$143.00 in a report published on Thursday, BayStreet.CA reports.

A number of other equities research analysts also recently issued reports on BMO. TD Securities reduced their price objective on shares of Bank of Montreal from C$130.00 to C$126.00 and set a buy rating on the stock in a research note on Thursday. Canaccord Genuity Group reduced their target price on Bank of Montreal from C$130.00 to C$121.50 in a report on Thursday. National Bankshares reduced their target price on Bank of Montreal from C$129.00 to C$122.00 and set a sector perform rating on the stock in a report on Thursday. CIBC reduced their target price on Bank of Montreal from C$145.00 to C$139.00 in a report on Tuesday, May 16th. Finally, Barclays reduced their target price on Bank of Montreal from C$149.00 to C$127.00 in a report on Tuesday, May 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of C$138.59.

Bank of Montreal Price Performance

Shares of TSE:BMO opened at C$113.00 on Thursday. The company has a market capitalization of C$79.47 billion, a P/E ratio of 5.65, a P/E/G ratio of 1.49 and a beta of 1.13. Bank of Montreal has a 1 year low of C$111.88 and a 1 year high of C$138.85. The business’s 50 day simple moving average is C$119.29 and its 200 day simple moving average is C$125.80.

Bank of Montreal (TSE:BMO – Get Rating) (NYSE:BMO) last issued its quarterly earnings results on Tuesday, February 28th. The bank reported C$3.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$3.13 by C$0.09. The business had revenue of C$6.47 billion for the quarter. Bank of Montreal had a return on equity of 21.06% and a net margin of 40.56%. On average, sell-side analysts anticipate that Bank of Montreal will post 13.4068182 EPS for the current fiscal year.

Bank of Montreal Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 28th. Shareholders of record on Friday, July 28th will be given a $1.47 dividend. This is a boost from Bank of Montreal’s previous quarterly dividend of $1.43. This represents a $5.88 annualized dividend and a yield of 5.20%. The ex-dividend date is Thursday, July 27th. Bank of Montreal’s dividend payout ratio is 28.61%.

Bank of Montreal Company Profile

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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.