Bank of Montreal (TSE:BMO) Stock Price Crosses Below 200-Day Moving Average of $126.06

Bank of Montreal (TSE:BMO) (NYSE:BMO)’s stock price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$126.06 and traded as low as C$114.10. Bank of Montreal shares last traded at C$114.83, with a volume of 3,747,853 shares trading hands.

Wall Street Analyst Weigh In

BMO has been the topic of several analyst reports. Keefe, Bruyette & Woods downgraded Bank of Montreal from a “moderate buy” rating to a “hold” rating in a report on Monday, June 3rd. CIBC dropped their price objective on Bank of Montreal from C$125.00 to C$120.00 and set a “neutral” rating on the stock in a report on Friday, March 8th. Canaccord Genuity Group dropped their price objective on Bank of Montreal from C$140.00 to C$136.00 and set a “buy” rating on the stock in a report on Thursday, May 30th. Jefferies Financial Group lifted their price objective on Bank of Montreal from C$136.00 to C$142.00 in a report on Monday, May 13th. Finally, TD Securities dropped their price objective on Bank of Montreal from C$142.00 to C$135.00 and set a “buy” rating on the stock in a report on Thursday, May 30th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$131.30.

Bank of Montreal Trading Up 0.7 %

The stock has a 50-day simple moving average of C$122.10 and a 200-day simple moving average of C$125.93. The company has a market cap of C$84.23 billion, a price-to-earnings ratio of 15.93, a price-to-earnings-growth ratio of 0.54 and a beta of 1.19.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last announced its quarterly earnings results on Wednesday, May 29th. The bank reported C$2.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$2.74 by C($0.15). Bank of Montreal had a return on equity of 7.28% and a net margin of 17.71%. The business had revenue of C$7.97 billion for the quarter, compared to analyst estimates of C$8.06 billion. As a group, research analysts expect that Bank of Montreal will post 11.2532189 EPS for the current fiscal year.

Bank of Montreal Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 27th. Shareholders of record on Tuesday, July 30th will be paid a $1.55 dividend. The ex-dividend date is Tuesday, July 30th. This represents a $6.20 dividend on an annualized basis and a yield of 5.34%. This is an increase from Bank of Montreal’s previous quarterly dividend of $1.51. Bank of Montreal’s payout ratio is 82.85%.

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.