Jefferies Financial Group Trims Bank of Montreal (TSE:BMO) Target Price to C$124.00

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its target price lowered by Jefferies Financial Group from C$141.00 to C$124.00 in a research report sent to investors on Monday morning, BayStreet.CA reports. The brokerage currently has a buy rating on the bank’s stock.

BMO has been the subject of several other research reports. UBS Group set a C$122.00 price objective on shares of Bank of Montreal and gave the company a neutral rating in a research report on Tuesday, July 2nd. Desjardins reduced their target price on Bank of Montreal from C$129.00 to C$125.00 and set a hold rating for the company in a research note on Tuesday, August 6th. Barclays reduced their target price on Bank of Montreal from C$140.00 to C$132.00 and set an overweight rating for the company in a research note on Thursday, May 30th. Scotiabank reduced their target price on Bank of Montreal from C$137.00 to C$129.00 and set an outperform rating for the company in a research note on Thursday, May 30th. Finally, Keefe, Bruyette & Woods cut Bank of Montreal from a moderate buy rating to a hold rating in a research note on Monday, June 3rd. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of C$128.93.

Bank of Montreal Stock Up 0.6 %

Shares of TSE:BMO opened at C$114.34 on Monday. Bank of Montreal has a 52-week low of C$102.67 and a 52-week high of C$133.95. The company has a 50 day moving average of C$115.94 and a two-hundred day moving average of C$123.15. The company has a market capitalization of C$82.95 billion, a price-to-earnings ratio of 15.68, a price-to-earnings-growth ratio of 0.54 and a beta of 1.19.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last issued its quarterly earnings data on Wednesday, May 29th. The bank reported C$2.59 earnings per share (EPS) for the quarter, missing the consensus estimate of C$2.74 by C($0.15). Bank of Montreal had a net margin of 17.71% and a return on equity of 7.28%. The firm had revenue of C$7.97 billion during the quarter, compared to analyst estimates of C$8.06 billion. On average, equities analysts anticipate that Bank of Montreal will post 11.2532189 earnings per share for the current year.

Bank of Montreal Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 27th will be given a $1.55 dividend. The ex-dividend date is Tuesday, July 30th. This is a positive change from Bank of Montreal’s previous quarterly dividend of $1.51. This represents a $6.20 annualized dividend and a yield of 5.42%. Bank of Montreal’s dividend payout ratio (DPR) is currently 82.85%.

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.