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

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

A number of other analysts have also issued reports on BMO. Fundamental Research set a C$160.30 price objective on shares of Bank of Montreal and gave the company a buy rating in a research note on Tuesday, March 14th. CIBC lowered their target price on Bank of Montreal from C$145.00 to C$139.00 in a research note on Tuesday, May 16th. Barclays cut their price target on Bank of Montreal from C$149.00 to C$127.00 in a research note on Tuesday, May 9th. Royal Bank of Canada dropped their price objective on Bank of Montreal from C$154.00 to C$151.00 in a report on Monday, March 27th. Finally, National Bankshares reduced their target price on Bank of Montreal from C$129.00 to C$122.00 and set a sector perform rating for the company in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Bank of Montreal has a consensus rating of Hold and a consensus price target of C$138.59.

Bank of Montreal Price Performance

TSE BMO opened at C$113.00 on Thursday. The business’s 50-day simple moving average is C$119.29 and its 200-day simple moving average is C$125.80. The firm 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.

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

Bank of Montreal Increases Dividend

The business also recently announced 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. The ex-dividend date is Thursday, July 27th. This is a positive change from Bank of Montreal’s previous quarterly dividend of $1.43. This represents a $5.88 annualized dividend and a yield of 5.20%. Bank of Montreal’s dividend payout ratio (DPR) is currently 28.61%.

Bank of Montreal Company Profile

(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.