Bank of Montreal (TSE:BMO) Given a C$122.00 Price Target at UBS Group

UBS Group set a C$122.00 price target on Bank of Montreal (TSE:BMO) (NYSE:BMO) in a research note released on Tuesday morning, BayStreet.CA reports. The firm currently has a neutral rating on the bank’s stock.

BMO has been the subject of a number of other reports. Scotiabank lowered their price objective on Bank of Montreal from C$137.00 to C$129.00 and set an outperform rating for the company in a research report on Thursday, May 30th. Barclays lowered their price target on Bank of Montreal from C$140.00 to C$132.00 and set an overweight rating for the company in a report on Thursday, May 30th. Keefe, Bruyette & Woods downgraded Bank of Montreal from a moderate buy rating to a hold rating in a report on Monday, June 3rd. Desjardins downgraded Bank of Montreal from a buy rating to a hold rating and lowered their price target for the company from C$133.00 to C$129.00 in a report on Thursday, May 30th. Finally, Cormark lowered their price target on Bank of Montreal from C$141.00 to C$133.00 in a report on Thursday, May 30th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of C$131.30.

Bank of Montreal Price Performance

Shares of TSE:BMO opened at C$115.25 on Tuesday. Bank of Montreal has a 1 year low of C$102.67 and a 1 year high of C$133.95. The firm has a market capitalization of C$83.61 billion, a PE ratio of 15.79, a price-to-earnings-growth ratio of 0.54 and a beta of 1.19. The firm’s 50-day moving average is C$122.36 and its two-hundred day moving average is C$125.99.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last announced its quarterly earnings data on Wednesday, May 29th. The bank reported C$2.59 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 company had revenue of C$7.97 billion for the quarter, compared to analyst estimates of C$8.06 billion. Analysts expect that Bank of Montreal will post 11.2532189 EPS for the current fiscal year.

Bank of Montreal Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 27th. Stockholders of record on Tuesday, July 30th will be given a dividend of $1.55 per share. The ex-dividend date is Tuesday, July 30th. This is a positive change from Bank of Montreal’s previous quarterly dividend of $1.51. This represents a $6.20 dividend on an annualized basis and a dividend yield of 5.38%. Bank of Montreal’s dividend payout ratio (DPR) is 82.85%.

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.