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 - Free Report) NYSE: BMO in a research report report published on Tuesday, BayStreet.CA reports. The brokerage currently has a neutral rating on the bank's stock.

Several other analysts have also recently weighed in on the company. Desjardins cut Bank of Montreal from a buy rating to a hold rating and cut their price objective for the company from C$133.00 to C$129.00 in a research report on Thursday, May 30th. 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. TD Securities cut 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 research report on Thursday, May 30th. Scotiabank cut their price objective on Bank of Montreal from C$137.00 to C$129.00 and set an outperform rating on the stock in a research report on Thursday, May 30th. Finally, Jefferies Financial Group lifted their price objective on Bank of Montreal from C$136.00 to C$142.00 in a research report on Monday, May 13th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of C$131.30.

Bank of Montreal Stock Performance

Shares of TSE BMO traded up C$0.42 during trading hours on Tuesday, hitting C$115.25. The company's stock had a trading volume of 2,704,671 shares, compared to its average volume of 2,676,301. The stock has a market cap of C$83.61 billion, a price-to-earnings ratio of 15.79, a P/E/G ratio of 0.54 and a beta of 1.19. Bank of Montreal has a 12 month low of C$102.67 and a 12 month high of C$133.95. The business has a 50-day simple moving average of C$122.36 and a 200-day simple moving average of C$125.99.

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

Bank of Montreal Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 27th. Investors of record on Tuesday, July 30th will be issued a $1.55 dividend. 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 yield of 5.38%. The ex-dividend date is Tuesday, July 30th. Bank of Montreal's payout ratio is presently 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.