Bank of Montreal (TSE:BMO) Earns “Outperform” Rating from CIBC

CIBC reissued their outperform rating on shares of Bank of Montreal (TSE:BMO) (NYSE:BMO) in a report issued on Monday morning, Price Targets.com reports. They currently have a C$122.00 target price on the bank’s stock.

BMO has been the topic of several other research reports. TD Securities reaffirmed a buy rating and set a C$120.00 price target (up previously from C$110.00) on shares of Bank of Montreal in a research report on Wednesday, February 24th. Canaccord Genuity lifted their target price on shares of Bank of Montreal from C$106.50 to C$112.50 in a report on Thursday, February 25th. Scotiabank lifted their target price on shares of Bank of Montreal from C$111.00 to C$126.00 in a report on Wednesday, February 24th. Cormark lifted their target price on shares of Bank of Montreal from C$104.00 to C$110.00 and gave the company a na rating in a report on Thursday, February 25th. Finally, Fundamental Research lifted their target price on shares of Bank of Montreal from C$108.66 to C$125.99 and gave the company a top pick rating in a report on Tuesday, March 2nd. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of C$111.96.

BMO stock opened at C$114.56 on Monday. The firm has a market cap of C$74.11 billion and a PE ratio of 13.94. The firm’s 50 day moving average price is C$110.74 and its 200-day moving average price is C$96.92. Bank of Montreal has a one year low of C$61.05 and a one year high of C$115.84.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last released its quarterly earnings results on Tuesday, February 23rd. The bank reported C$3.06 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of C$2.12 by C$0.94. The firm had revenue of C$6.98 billion for the quarter. On average, sell-side analysts forecast that Bank of Montreal will post 10.8500015 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 26th. Shareholders of record on Monday, May 3rd will be paid a $1.06 dividend. The ex-dividend date is Friday, April 30th. This represents a $4.24 annualized dividend and a dividend yield of 3.70%. Bank of Montreal’s dividend payout ratio (DPR) is 51.59%.

Bank of Montreal Company Profile

Bank of Montreal provides diversified financial services primarily in North America. 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, specialized banking programs, treasury and payment solutions, and risk management products for small business and commercial banking customers.

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Analyst Recommendations for Bank of Montreal (TSE:BMO)

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