Bank of Montreal (TSE:BMO) Price Target Cut to C$130.00 by Analysts at Canaccord Genuity Group

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its price target cut by Canaccord Genuity Group from C$135.00 to C$130.00 in a report released on Wednesday, BayStreet.CA reports. They currently have a buy rating on the bank’s stock.

Other research analysts have also recently issued research reports about the company. Cormark cut their target price on Bank of Montreal from C$133.00 to C$129.00 and set a buy rating on the stock in a research note on Tuesday, August 20th. Royal Bank of Canada cut Bank of Montreal from an outperform rating to a sector perform rating and cut their target price for the company from C$124.00 to C$118.00 in a research note on Tuesday, July 30th. CIBC cut 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 note on Wednesday. TD Securities cut their target price on Bank of Montreal from C$134.00 to C$130.00 in a research note on Thursday, August 8th. Finally, Jefferies Financial Group dropped their price objective on 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. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of C$121.00.

Bank of Montreal Price Performance

Shares of TSE BMO opened at C$110.37 on Wednesday. The business’s 50 day moving average is C$116.19 and its two-hundred day moving average is C$122.60. 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 market capitalization of C$80.50 billion, a P/E ratio of 12.70, a PEG ratio of 0.54 and a beta of 1.16.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last released its earnings results on Wednesday, May 29th. The bank reported C$2.59 EPS for the quarter, missing analysts’ consensus estimates of C$2.74 by C($0.15). The business had revenue of C$7.97 billion for the quarter, compared to the consensus estimate 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, equities research analysts anticipate that Bank of Montreal will post 11.472973 earnings per share for the current fiscal year.

Bank of Montreal Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Wednesday, October 30th will be issued a dividend of $1.55 per share. The ex-dividend date of this dividend is Wednesday, October 30th. This represents a $6.20 dividend on an annualized basis and a yield of 5.62%. 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.