Scotiabank Trims Bank of Montreal (TSE:BMO) Target Price to C$156.00

Bank of Montreal (TSE:BMOGet Rating) (NYSE:BMO) had its price target lowered by Scotiabank from C$159.00 to C$156.00 in a report released on Tuesday morning, The Fly reports.

BMO has been the subject of several other reports. Cormark raised their target price on shares of Bank of Montreal from C$156.00 to C$157.00 in a research note on Wednesday, August 31st. Barclays raised their target price on shares of Bank of Montreal from C$151.00 to C$153.00 in a research note on Monday, November 14th. Royal Bank of Canada cut their target price on shares of Bank of Montreal from C$158.00 to C$151.00 and set an outperform rating for the company in a research note on Wednesday, August 31st. Canaccord Genuity Group lowered their price target on shares of Bank of Montreal from C$152.50 to C$150.50 in a report on Wednesday, August 31st. Finally, CSFB increased their price target on shares of Bank of Montreal from C$150.00 to C$152.00 in a report on Tuesday. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of C$152.34.

Bank of Montreal Stock Performance

Shares of TSE:BMO opened at C$132.37 on Tuesday. Bank of Montreal has a 52-week low of C$113.73 and a 52-week high of C$154.47. The company has a market capitalization of C$89.27 billion and a P/E ratio of 7.94. The company has a 50-day simple moving average of C$125.09 and a 200 day simple moving average of C$127.34.

Bank of Montreal (TSE:BMOGet Rating) (NYSE:BMO) last issued its earnings results on Tuesday, August 30th. The bank reported C$3.09 earnings per share (EPS) for the quarter, beating the consensus estimate of C$3.06 by C$0.03. The firm had revenue of C$6.10 billion during the quarter. As a group, equities analysts forecast that Bank of Montreal will post 14.2100011 earnings per share for the current year.

Bank of Montreal Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 28th. Stockholders of record on Monday, November 28th will be issued a dividend of $1.39 per share. The ex-dividend date of this dividend is Monday, October 31st. This represents a $5.56 annualized dividend and a dividend yield of 4.20%. Bank of Montreal’s dividend payout ratio is presently 30.64%.

About Bank of Montreal

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Bank of Montreal provides diversified financial services primarily in North America. The company's personal banking products and services include checking and savings accounts, credit cards, mortgages, and financial and investment advice services; and commercial banking products and services comprise business deposit accounts, commercial credit cards, business loans and commercial mortgages, cash management solutions, foreign exchange, specialized banking programs, treasury and payment solutions, and risk management products for small business and commercial banking customers.

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