Bank of Montreal (TSE:BMO) Given New C$123.00 Price Target 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 research report report published on Monday, BayStreet.CA reports.

Several other brokerages have also recently weighed in on BMO. Royal Bank of Canada cut Bank of Montreal from an outperform rating to a sector perform rating and decreased their target price for the company from C$124.00 to C$118.00 in a research note on Tuesday, July 30th. Keefe, Bruyette & Woods cut shares of Bank of Montreal from a moderate buy rating to a hold rating in a research note on Monday, June 3rd. UBS Group set a C$122.00 target price on shares of Bank of Montreal and gave the company a neutral rating in a research note on Tuesday, July 2nd. Canaccord Genuity Group reduced their target price on shares of Bank of Montreal from C$136.00 to C$135.00 in a report on Tuesday, August 13th. Finally, TD Securities dropped their price target on Bank of Montreal from C$134.00 to C$130.00 in a report on Thursday, August 8th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Bank of Montreal presently has an average rating of Moderate Buy and an average target price of C$127.86.

Bank of Montreal Trading Up 0.2 %

Shares of TSE:BMO opened at C$118.14 on Monday. The company has a 50 day moving average of C$116.07 and a 200-day moving average of C$122.78. The firm has a market cap of C$86.15 billion, a P/E ratio of 14.17, a P/E/G ratio of 0.54 and a beta of 1.16. Bank of Montreal has a twelve month low of C$102.67 and a twelve month high of C$133.95.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last released its earnings results on Wednesday, May 29th. The bank reported C$2.59 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of C$8.06 billion. Equities research analysts forecast that Bank of Montreal will post 11.6437811 EPS for the current year.

Bank of Montreal Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 27th. Investors 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 annualized dividend and a yield of 5.25%. The ex-dividend date of this dividend is Tuesday, July 30th. Bank of Montreal’s dividend payout ratio is currently 74.34%.

About Bank of Montreal

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.