Bank of Montreal (BMO) PT Lowered to C$111.00 at Canaccord Genuity

Bank of Montreal (BMO) PT Lowered to C$111.00 at Canaccord Genuity

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

Other equities research analysts have also issued research reports about the company. Desjardins boosted their price target on Bank of Montreal from C$104.00 to C$106.00 in a research note on Wednesday, February 27th. Royal Bank of Canada upped their target price on Bank of Montreal from C$112.00 to C$113.00 and gave the company an outperform rating in a research report on Wednesday, February 27th. National Bank Financial upped their target price on Bank of Montreal from C$114.00 to C$116.00 in a research report on Wednesday, February 27th. Finally, Bank of America lowered Bank of Montreal from a neutral rating to an underperform rating and dropped their target price for the company from C$104.00 to C$98.00 in a research report on Monday, January 28th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of C$110.82.

Shares of BMO stock traded up C$0.46 during trading hours on Wednesday, reaching C$104.04. 83,195 shares of the company’s stock were exchanged, compared to its average volume of 1,643,455. Bank of Montreal has a 1 year low of C$86.25 and a 1 year high of C$109.00. The firm has a market capitalization of $65.69 billion and a price-to-earnings ratio of 11.53.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last issued its quarterly earnings results on Tuesday, February 26th. The bank reported C$2.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of C$2.24 by C$0.08. The business had revenue of C$6.52 billion for the quarter, compared to analysts’ expectations of C$5.94 billion. As a group, equities analysts expect that Bank of Montreal will post 10.2399998725724 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Wednesday, May 1st will be given 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 3.84%. Bank of Montreal’s dividend payout ratio is currently 42.65%.

In related news, Senior Officer Cameron Mcaskile Fowler sold 6,900 shares of the company’s stock in a transaction that occurred 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 business’s stock in a transaction that occurred 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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