Bank of Montreal (TSE:BMO) Price Target Cut to C$123.00 by Analysts at Scotiabank

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its target price lowered by Scotiabank from C$129.00 to C$123.00 in a report published on Monday, BayStreet.CA reports.

BMO has been the subject of a number of other reports. Canaccord Genuity Group decreased their price objective on shares of Bank of Montreal from C$136.00 to C$135.00 in a research report on Tuesday, August 13th. Cormark lowered their price objective on Bank of Montreal from C$141.00 to C$133.00 in a research note on Thursday, May 30th. Keefe, Bruyette & Woods lowered Bank of Montreal from a moderate buy rating to a hold rating in a research report on Monday, June 3rd. Barclays decreased their price target on shares of Bank of Montreal from C$140.00 to C$132.00 and set an overweight rating for the company in a research report on Thursday, May 30th. Finally, Jefferies Financial Group reduced their price objective on shares of Bank of Montreal from C$141.00 to C$124.00 and set a buy rating on the stock in a research note on Monday, August 12th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Bank of Montreal presently has a consensus rating of Moderate Buy and a consensus price target of C$128.14.

Bank of Montreal Stock Performance

BMO stock opened at C$117.83 on Monday. The firm has a market cap of C$85.93 billion, a P/E ratio of 14.13, a price-to-earnings-growth ratio of 0.54 and a beta of 1.16. Bank of Montreal has a 1 year low of C$102.67 and a 1 year high of C$133.95. The stock has a 50-day simple moving average of C$115.94 and a 200-day simple moving average of C$122.90.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last posted its quarterly earnings data on Wednesday, May 29th. The bank reported C$2.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$2.74 by C($0.15). The firm had revenue of C$7.97 billion for the quarter, compared to analysts’ expectations of C$8.06 billion. Bank of Montreal had a net margin of 20.07% and a return on equity of 8.19%. On average, equities research analysts predict that Bank of Montreal will post 11.6437811 EPS for the current year.

Bank of Montreal Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 27th will be paid a $1.55 dividend. This is an increase from Bank of Montreal’s previous quarterly dividend of $1.51. This represents a $6.20 dividend on an annualized basis and a yield of 5.26%. The ex-dividend date of this dividend is Tuesday, July 30th. Bank of Montreal’s payout ratio is presently 74.34%.

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.