Bank of Montreal (TSE:BMO) PT Lowered to C$120.00 at Desjardins

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its price objective cut by Desjardins from C$125.00 to C$120.00 in a research report sent to investors on Wednesday morning, BayStreet.CA reports. They currently have a hold rating on the bank’s stock. Desjardins also issued estimates for Bank of Montreal’s Q4 2024 earnings at $2.51 EPS, FY2024 earnings at $10.30 EPS and FY2025 earnings at $11.30 EPS.

Other analysts also recently issued reports about the company. Cormark reduced their price objective on Bank of Montreal from C$133.00 to C$129.00 and set a buy rating for the company in a research note on Tuesday, August 20th. Scotiabank reduced their price objective on Bank of Montreal from C$129.00 to C$123.00 in a research note on Monday, August 19th. Barclays dropped their target price on Bank of Montreal from C$140.00 to C$132.00 and set an overweight rating on the stock in a research report on Thursday, May 30th. Canaccord Genuity Group dropped their target price on Bank of Montreal from C$135.00 to C$130.00 and set a buy rating on the stock in a research report on Wednesday. Finally, CIBC dropped their target price on Bank of Montreal from C$120.00 to C$116.00 and set a neutral rating on the stock in a research report on Wednesday. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Hold and an average target price of C$121.00.

Bank of Montreal Stock Performance

Bank of Montreal stock opened at C$112.71 on Wednesday. Bank of Montreal has a fifty-two week low of C$102.67 and a fifty-two week high of C$133.95. The company has a market capitalization of C$82.21 billion, a P/E ratio of 12.97, a PEG ratio of 0.54 and a beta of 1.16. The stock has a 50-day simple moving average of C$116.04 and a 200-day simple moving average of C$122.45.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last posted its earnings results on Wednesday, May 29th. The bank reported C$2.59 earnings per share for the quarter, missing the consensus estimate of C$2.74 by C($0.15). The firm had revenue of C$7.97 billion during the quarter, compared to analysts’ expectations of C$8.06 billion. Bank of Montreal had a net margin of 21.21% and a return on equity of 8.19%. As a group, analysts forecast that Bank of Montreal will post 11.472973 earnings per share for the current year.

Bank of Montreal Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Wednesday, October 30th will be given a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 5.50%. The ex-dividend date of this dividend is Wednesday, October 30th. Bank of Montreal’s dividend payout ratio is currently 71.35%.

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.