CIBC Trims Bank of Montreal (TSE:BMO) Target Price to C$116.00

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its price objective decreased by CIBC from C$120.00 to C$116.00 in a research report sent to investors on Wednesday morning, BayStreet.CA reports. CIBC currently has a neutral rating on the bank’s stock.

Several other equities analysts have also issued reports on BMO. National Bankshares cut their price objective on shares of Bank of Montreal from C$136.00 to C$131.00 and set an outperform rating on the stock in a report on Friday, August 16th. Scotiabank cut their price objective on shares of Bank of Montreal from C$129.00 to C$123.00 in a report on Monday, August 19th. Canaccord Genuity Group cut their price objective on shares of Bank of Montreal from C$136.00 to C$135.00 in a report on Tuesday, August 13th. Keefe, Bruyette & Woods lowered shares of Bank of Montreal from a moderate buy rating to a hold rating in a report on Monday, June 3rd. Finally, TD Securities cut their price objective on shares of Bank of Montreal from C$134.00 to C$130.00 in a report on Thursday, August 8th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Bank of Montreal presently has an average rating of Hold and a consensus price target of C$121.00.

Bank of Montreal Stock Performance

Shares of TSE:BMO opened at C$112.71 on Wednesday. The firm has a market cap of C$82.21 billion, a PE ratio of 12.97, a price-to-earnings-growth ratio of 0.54 and a beta of 1.16. The firm’s 50 day simple moving average is C$116.04 and its 200-day simple moving average is C$122.45. Bank of Montreal has a one year low of C$102.67 and a one year high of C$133.95.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last issued 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 company had revenue of C$7.97 billion for the quarter, compared to analysts’ expectations of C$8.06 billion. Bank of Montreal had a return on equity of 8.19% and a net margin of 21.21%. Equities research analysts predict that Bank of Montreal will post 11.472973 EPS for the current fiscal year.

Bank of Montreal Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Wednesday, October 30th will be paid a dividend of $1.55 per share. The ex-dividend date of this dividend is Wednesday, October 30th. This represents a $6.20 annualized dividend and a yield of 5.50%. Bank of Montreal’s payout ratio is presently 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.