Bank of Montreal (BMO) Price Target Cut to C$111.00 by Analysts at Canaccord Genuity

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its price target lowered by Canaccord Genuity from C$113.00 to C$111.00 in a report published on Wednesday, BayStreet.CA reports.

A number of other brokerages have also recently commented on BMO. Desjardins increased their price target on Bank of Montreal from C$108.00 to C$111.00 and gave the company a hold rating in a research note on Tuesday. Royal Bank of Canada increased their price target on Bank of Montreal from C$112.00 to C$113.00 and gave the company an outperform rating in a research note on Wednesday, February 27th. National Bank Financial increased their price target on Bank of Montreal from C$114.00 to C$116.00 in a research note on Wednesday, February 27th. Finally, Bank of America cut Bank of Montreal from a neutral rating to an underperform rating and dropped their price target for the company from C$104.00 to C$98.00 in a research note on Monday, January 28th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. Bank of Montreal currently has an average rating of Hold and an average price target of C$110.42.

Shares of BMO opened at C$103.42 on Wednesday. Bank of Montreal has a 52 week low of C$86.25 and a 52 week high of C$109.00. The firm has a market capitalization of $65.69 billion and a PE ratio of 11.46.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last announced its quarterly earnings results on Tuesday, February 26th. The bank reported C$2.32 EPS for the quarter, beating the Zacks’ consensus estimate of C$2.24 by C$0.08. The firm had revenue of C$6.52 billion during the quarter, compared to the consensus estimate of C$5.94 billion. On average, sell-side analysts predict that Bank of Montreal will post 10.2399998725724 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Wednesday, May 1st will be issued a $1.00 dividend. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $4.00 dividend on an annualized basis and a yield of 3.87%. Bank of Montreal’s payout ratio is 42.65%.

In related news, Senior Officer Cameron Mcaskile Fowler sold 6,900 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of C$103.98, for a total value of C$717,482.70. Also, Senior Officer Patrick Cronin sold 26,022 shares of the stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of C$102.16, for a total value of C$2,658,329.45.

Bank of Montreal Company Profile

Bank of Montreal provides diversified financial services primarily in North America. It operates through three groups: Personal and Commercial Banking, Wealth Management, and BMO Capital Markets. The company's personal banking products and services include checking and savings accounts, credit cards, mortgages, 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, and specialized banking programs for small business and commercial banking customers, as well as wealth management products and services, such as insurance products.

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