National Bankshares Trims Bank of Montreal (TSE:BMO) Target Price to C$131.00

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its price objective decreased by National Bankshares from C$136.00 to C$131.00 in a research report sent to investors on Friday morning, BayStreet.CA reports. National Bankshares currently has an outperform rating on the bank’s stock.

BMO has been the subject of several other reports. Barclays decreased their price target on Bank of Montreal from C$140.00 to C$132.00 and set an overweight rating for the company in a report on Thursday, May 30th. Canaccord Genuity Group reduced their price target on Bank of Montreal from C$136.00 to C$135.00 in a report on Tuesday, August 13th. Desjardins decreased their price target on Bank of Montreal from C$129.00 to C$125.00 and set a hold rating on the stock in a research note on Tuesday, August 6th. Royal Bank of Canada cut Bank of Montreal from an outperform rating to a sector perform rating and cut their price objective for the stock from C$124.00 to C$118.00 in a research report on Tuesday, July 30th. Finally, UBS Group set a C$122.00 target price on Bank of Montreal and gave the company a neutral rating in a report on Tuesday, July 2nd. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of C$128.57.

Bank of Montreal Price Performance

TSE BMO opened at C$117.02 on Friday. Bank of Montreal has a 1 year low of C$102.67 and a 1 year high of C$133.95. The company has a market capitalization of C$85.34 billion, a PE ratio of 14.03, a P/E/G ratio of 0.54 and a beta of 1.16. The company has a fifty day moving average of C$115.91 and a two-hundred day moving average of C$122.96.

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 8.19% and a net margin of 20.07%. The firm had revenue of C$7.97 billion for the quarter, compared to analyst estimates of C$8.06 billion. On average, research analysts expect that Bank of Montreal will post 11.6437811 earnings per share for the current year.

Bank of Montreal Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 27th will be issued a dividend of $1.55 per share. This is an increase from Bank of Montreal’s previous quarterly dividend of $1.51. This represents a $6.20 annualized dividend and a yield of 5.30%. The ex-dividend date of this dividend is Tuesday, July 30th. Bank of Montreal’s dividend payout ratio (DPR) is 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.