Bank of Montreal (TSE:BMO) Stock Rating Lowered by Bank of America

Bank of America cut shares of Bank of Montreal (TSE:BMO) (NYSE:BMO) from a buy rating to a neutral rating in a report released on Wednesday, BayStreet.CA reports. The firm currently has C$117.00 target price on the bank’s stock, down from their previous target price of C$134.00.

Several other research analysts have also recently commented on BMO. TD Securities cut shares of Bank of Montreal from a buy rating to a hold rating and decreased their target price for the stock from C$130.00 to C$114.00 in a research report on Wednesday. Cormark decreased their price objective on shares of Bank of Montreal from C$129.00 to C$118.00 in a report on Wednesday. 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. Jefferies Financial Group decreased their price objective on shares of Bank of Montreal from C$141.00 to C$124.00 and set a buy rating for the company in a report on Monday, August 12th. Finally, Royal Bank of Canada decreased their price objective on shares of Bank of Montreal from C$118.00 to C$106.00 and set a sector perform rating for the company in a report on Wednesday. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Bank of Montreal presently has a consensus rating of Hold and a consensus price target of C$121.00.

Bank of Montreal Trading Up 0.7 %

TSE BMO opened at C$112.71 on Wednesday. Bank of Montreal has a 52 week low of C$102.67 and a 52 week high of C$133.95. The stock has a market cap of C$82.21 billion, a price-to-earnings ratio of 12.97, a price-to-earnings-growth ratio of 0.54 and a beta of 1.16. The company has a 50-day moving average price of C$116.04 and a two-hundred day moving average price of C$122.45.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last posted its earnings results on Wednesday, May 29th. The bank reported C$2.59 EPS for the quarter, missing the consensus estimate of C$2.74 by C($0.15). Bank of Montreal had a return on equity of 8.19% and a net margin of 21.21%. The firm had revenue of C$7.97 billion during the quarter, compared to the consensus estimate of C$8.06 billion. As a group, equities research analysts expect that Bank of Montreal will post 11.472973 earnings per share for the current fiscal year.

Bank of Montreal Announces Dividend

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