Bank of Montreal (TSE:BMO) Receives C$129.00 Consensus Price Target from Brokerages

Shares of Bank of Montreal (TSE:BMO) (NYSE:BMO) have received a consensus recommendation of “Moderate Buy” from the fourteen research firms that are presently covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is C$128.14.

BMO has been the topic of several analyst reports. Barclays reduced their target price on shares of Bank of Montreal from C$140.00 to C$132.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. 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. Cormark cut their price objective on shares of Bank of Montreal from C$141.00 to C$133.00 in a report on Thursday, May 30th. Keefe, Bruyette & Woods cut shares of Bank of Montreal from a “moderate buy” rating to a “hold” rating in a report on Monday, June 3rd. Finally, Desjardins cut their price objective on shares of Bank of Montreal from C$129.00 to C$125.00 and set a “hold” rating on the stock in a report on Tuesday, August 6th.

Bank of Montreal Stock Up 0.7 %

Shares of TSE:BMO opened at C$117.83 on Tuesday. The firm’s 50 day moving average price is C$115.94 and its 200 day moving average price is C$122.90. The stock has a market cap of C$85.93 billion, a price-to-earnings ratio of 14.13, a price-to-earnings-growth ratio of 0.54 and a beta of 1.16. Bank of Montreal has a fifty-two week low of C$102.67 and a fifty-two week 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 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 analyst estimates of C$8.06 billion. Bank of Montreal had a net margin of 20.07% and a return on equity of 8.19%. On average, equities analysts anticipate that Bank of Montreal will post 11.6437811 EPS for the current year.

Bank of Montreal Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 27th. Investors of record on Tuesday, August 27th will be given a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 5.26%. This is a positive change from Bank of Montreal’s previous quarterly dividend of $1.51. The ex-dividend date is Tuesday, July 30th. Bank of Montreal’s dividend payout ratio (DPR) is 74.34%.

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.