Bank of Montreal (TSE:BMO) Price Target Lowered to C$124.00 at Royal Bank of Canada

Bank of Montreal (TSE:BMOFree Report) (NYSE:BMO) had its price objective trimmed by Royal Bank of Canada from C$130.00 to C$124.00 in a research note released on Thursday morning, BayStreet.CA reports. The brokerage currently has an outperform rating on the bank’s stock.

Several other equities research analysts have also issued reports on BMO. Cormark lowered their target price on shares of Bank of Montreal from C$141.00 to C$133.00 in a research note on Thursday. Canaccord Genuity Group reduced their price target on shares of Bank of Montreal from C$140.00 to C$136.00 and set a buy rating for the company in a research report on Thursday. Desjardins downgraded shares of Bank of Montreal from a buy rating to a hold rating and reduced their price target for the stock from C$133.00 to C$129.00 in a research report on Thursday. Barclays reduced 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. Finally, CIBC reduced their price target on shares of Bank of Montreal from C$125.00 to C$120.00 and set a neutral rating for the company in a research report on Friday, March 8th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of C$132.78.

Check Out Our Latest Stock Report on BMO

Bank of Montreal Stock Performance

TSE:BMO opened at C$119.82 on Thursday. Bank of Montreal has a one year low of C$102.67 and a one year high of C$133.95. The firm has a market cap of C$86.92 billion, a price-to-earnings ratio of 16.44, a PEG ratio of 0.54 and a beta of 1.19. The firm’s fifty day moving average is C$128.24 and its two-hundred day moving average is C$125.38.

Bank of Montreal (TSE:BMOGet Free Report) (NYSE:BMO) last posted its quarterly earnings results on Tuesday, February 27th. The bank reported C$2.56 EPS for the quarter, missing the consensus estimate of C$3.03 by C($0.47). Bank of Montreal had a net margin of 17.71% and a return on equity of 7.28%. The business had revenue of C$7.67 billion during the quarter, compared to analysts’ expectations of C$8.57 billion. As a group, equities research analysts predict that Bank of Montreal will post 11.2532189 earnings per share for the current fiscal year.

Bank of Montreal Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 27th. Investors of record on Tuesday, July 30th will be given a dividend of $1.55 per share. This is a positive change 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 yield of 5.17%. Bank of Montreal’s dividend payout ratio is 82.85%.

Insider Buying and Selling

In other Bank of Montreal news, Director Darrel Hackett sold 3,297 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of C$91.76, for a total transaction of C$302,532.72. In other Bank of Montreal news, Director Darrel Hackett sold 3,297 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of C$91.76, for a total transaction of C$302,532.72. Also, Senior Officer Nadim Hirji sold 2,882 shares of the company’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of C$130.46, for a total transaction of C$375,985.72. 0.03% of the stock is currently owned by company insiders.

About Bank of Montreal

(Get Free Report)

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.

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Analyst Recommendations for Bank of Montreal (TSE:BMO)

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