National Bankshares Cuts Bank of Montreal (TSE:BMO) Price Target to C$127.00

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its price objective decreased by National Bankshares from C$131.00 to C$127.00 in a report issued on Wednesday, BayStreet.CA reports. National Bankshares currently has an outperform rating on the bank’s stock.

Several other equities research analysts also recently commented on BMO. Barclays cut 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 research report on Thursday, May 30th. UBS Group set a C$122.00 price target on shares of Bank of Montreal and gave the stock a neutral rating in a research report on Tuesday, July 2nd. Keefe, Bruyette & Woods lowered shares of Bank of Montreal from a moderate buy rating to a hold rating in a research note on Monday, June 3rd. Royal Bank of Canada lowered 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 research note on Wednesday. Finally, Canaccord Genuity Group lowered their price objective on shares of Bank of Montreal from C$135.00 to C$130.00 and set a buy rating for the company in a research note on Wednesday. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of Hold and a consensus target price of C$121.00.

Bank of Montreal Stock Up 0.7 %

BMO stock opened at C$112.71 on Wednesday. Bank of Montreal has a 12 month low of C$102.67 and a 12 month high of C$133.95. The firm has a market cap of C$82.21 billion, a P/E ratio of 12.97, a P/E/G ratio of 0.54 and a beta of 1.16. The company’s 50-day moving average price is C$116.08 and its two-hundred day moving average price is C$122.52.

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

Bank of Montreal Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders 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 is Wednesday, October 30th. Bank of Montreal’s dividend payout ratio is 71.35%.

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.