Bank of Montreal (TSE:BMO) Stock Crosses Below Two Hundred Day Moving Average of $126.06

Shares of Bank of Montreal (TSE:BMO) (NYSE:BMO) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$126.06 and traded as low as C$114.10. Bank of Montreal shares last traded at C$114.83, with a volume of 3,747,853 shares changing hands.

Analyst Upgrades and Downgrades

BMO has been the subject of a number of analyst reports. Jefferies Financial Group boosted their price objective on Bank of Montreal from C$136.00 to C$142.00 in a research report on Monday, May 13th. Keefe, Bruyette & Woods downgraded shares of Bank of Montreal from a “moderate buy” rating to a “hold” rating in a research report on Monday, June 3rd. Scotiabank decreased their price objective on shares of Bank of Montreal from C$137.00 to C$129.00 and set an “outperform” rating for the company in a research report on Thursday, May 30th. National Bankshares dropped their target price on Bank of Montreal from C$143.00 to C$136.00 and set an “outperform” rating on the stock in a report on Thursday, May 30th. Finally, Cormark decreased their price target on Bank of Montreal from C$141.00 to C$133.00 in a report on Thursday, May 30th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$131.96.

Bank of Montreal Stock Performance

The company has a 50-day moving average of C$122.61 and a 200-day moving average of C$126.06. The stock has a market cap of C$83.30 billion, a price-to-earnings ratio of 15.75, a PEG ratio of 0.54 and a beta of 1.19.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last released its quarterly earnings results on Wednesday, May 29th. The bank reported C$2.59 EPS for the quarter, missing the consensus estimate of C$2.74 by C($0.15). Bank of Montreal had a return on equity of 7.28% and a net margin of 17.71%. The company had revenue of C$7.97 billion for the quarter, compared to analysts’ expectations of C$8.06 billion. As a group, equities research analysts forecast that Bank of Montreal will post 11.2532189 EPS for the current year.

Bank of Montreal Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 27th. Stockholders of record on Tuesday, July 30th will be issued a $1.55 dividend. This is an increase from Bank of Montreal’s previous quarterly dividend of $1.51. The ex-dividend date of this dividend is Tuesday, July 30th. This represents a $6.20 annualized dividend and a dividend yield of 5.40%. Bank of Montreal’s payout ratio is presently 82.85%.

Bank of Montreal Company Profile

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.