Brokerages Set Bank of Montreal (TSE:BMO) Price Target at C$146.09

Shares of Bank of Montreal (TSE:BMO – Get Rating) (NYSE:BMO) have been assigned a consensus rating of “Hold” from the fifteen analysts that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is C$138.59.

A number of research analysts have commented on BMO shares. CIBC reduced their price objective on Bank of Montreal from C$145.00 to C$139.00 in a research note on Tuesday, May 16th. Canaccord Genuity Group cut their target price on Bank of Montreal from C$130.00 to C$121.50 in a research report on Thursday. Royal Bank of Canada dropped their price target on Bank of Montreal from C$151.00 to C$143.00 in a report on Thursday. Fundamental Research set a C$160.30 target price on Bank of Montreal and gave the company a “buy” rating in a report on Tuesday, March 14th. Finally, Scotiabank cut their price objective on Bank of Montreal from C$151.00 to C$143.00 in a report on Thursday.

Bank of Montreal Stock Up 0.1 %

TSE:BMO opened at C$113.00 on Friday. Bank of Montreal has a 52 week low of C$111.88 and a 52 week high of C$138.85. The company has a market capitalization of C$79.47 billion, a P/E ratio of 5.65, a P/E/G ratio of 1.49 and a beta of 1.13. The stock’s fifty day moving average is C$119.29 and its two-hundred day moving average is C$125.80.

Bank of Montreal (TSE:BMO – Get Rating) (NYSE:BMO) last posted its quarterly earnings data on Tuesday, February 28th. The bank reported C$3.22 EPS for the quarter, beating the consensus estimate of C$3.13 by C$0.09. Bank of Montreal had a return on equity of 21.06% and a net margin of 40.56%. The firm had revenue of C$6.47 billion during the quarter. Sell-side analysts anticipate that Bank of Montreal will post 13.4068182 earnings per share for the current fiscal year.

Bank of Montreal Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 28th. Stockholders of record on Friday, July 28th will be paid a $1.47 dividend. The ex-dividend date is Thursday, July 27th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 5.20%. This is a boost from Bank of Montreal’s previous quarterly dividend of $1.43. Bank of Montreal’s payout ratio is 28.61%.

About Bank of Montreal

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Bank of Montreal engages in the provision of diversified financial services primarily in North America. The company's personal banking products and services include checking and savings accounts, credit cards, mortgages, personal loans, small business lending, cash management, and financial and investment advice services; and commercial banking products and services comprise business deposit accounts, commercial credit cards, business loans and commercial mortgages, cash management solutions, foreign exchange, specialized banking programs, treasury and payment solutions, and risk management products for small business and commercial banking customers.