Bank of Montreal (TSE:BMO) Share Price Passes Below Two Hundred Day Moving Average of $126.06

Bank of Montreal (TSE:BMO - Get Free Report) NYSE: BMO's share price passed below its two hundred day moving average during trading on Monday . The stock has a two hundred 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 changing hands.

Analysts Set New Price Targets

Several analysts have weighed in on the company. CIBC cut 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 research report on Friday, March 8th. Keefe, Bruyette & Woods lowered shares of Bank of Montreal from a "moderate buy" rating to a "hold" rating in a report on Monday, June 3rd. Royal Bank of Canada lowered their target price on shares of Bank of Montreal from C$130.00 to C$124.00 and set an "outperform" rating for the company in a report on Thursday, May 30th. National Bankshares lowered their target price on shares of Bank of Montreal from C$143.00 to C$136.00 and set an "outperform" rating for the company in a report on Thursday, May 30th. Finally, Canaccord Genuity Group decreased their price objective on shares of Bank of Montreal from C$140.00 to C$136.00 and set a "buy" rating for the company in a report on Thursday, May 30th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of C$131.30.

Bank of Montreal Trading Up 0.4 %

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 business's 50 day simple moving average is C$122.36 and its two-hundred day simple moving average is C$125.99.

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

Bank of Montreal Increases Dividend

The firm also recently disclosed 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. This is an increase from Bank of Montreal's previous quarterly dividend of $1.51. The ex-dividend date of this dividend is Tuesday, July 30th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 5.38%. Bank of Montreal's payout ratio is presently 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.