Bank of Montreal (NYSE:BMO) had its price target decreased to $126.00 at Barclays

Bank of Montreal (NYSE:BMO – Free Report) (TSE:BMO) had their price target cut by Barclays from $132.00 to $126.00 in a research note on Wednesday, Benzinga reports. They currently have an overweight rating on the bank’s stock.

Several other analysts have also weighed in on BMO. TD Securities lowered Bank of Montreal from a buy rating to a hold rating in a report on Tuesday. Jefferies Financial Group lowered Bank of Montreal from a buy rating to a hold rating in a research report on Tuesday. Bank of America cut Bank of Montreal from a buy rating to a neutral rating and cut their price objective for the stock from $134.00 to $117.00 in a research note on Wednesday. Scotiabank cut shares of Bank of Montreal from a sector outperform rating to a sector perform rating and cut their price target for the company from $123.00 to $112.00 in a research note on Wednesday. Finally, Royal Bank of Canada downgraded shares of Bank of Montreal from an outperform rating to a sector perform rating in a research report on Tuesday, July 30th. Nine research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and an average price target of $119.75.

Get the latest research report on Bank of Montreal

Bank of Montreal shares fell 1.7%

Shares of BMO stock opened at $81.90 on Wednesday. The company has a current ratio of 0.99, a quick ratio of 0.99, and a debt-to-equity ratio of 0.12. The firm has a 50-day simple moving average of $84.74 and a 200-day simple moving average of $89.80. The company has a market cap of $59.73 billion, a P/E ratio of 13.60, a PEG ratio of 2.04 and a beta of 1.12. Bank of Montreal has a 12-month low of $73.98 and a 12-month high of $100.12.

Bank of Montreal (NYSE:BMO – Get Your Free Report ) (TSE:BMO) last announced its quarterly earnings data on Tuesday, August 27th. The bank reported $2.64 earnings per share for the quarter, missing the consensus estimate of $2.76 by ($0.12). The company had revenue of $8.21 billion for the quarter, compared to analyst estimates of $8.25 billion. Bank of Montreal had a return on equity of 11.60% and a net margin of 8.25%. Bank of Montreal’s revenue rose 0.2% year-over-year. In the same period last year, the company earned $2.08 per share. On average, equities research analysts forecast that Bank of Montreal will post 7.91 earnings per share for the current fiscal year.

Bank of Montreal cuts dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Wednesday, October 30th will be paid a $1.123 dividend. This represents an annualized dividend of $4.49 and a yield of 5.48%. The ex-dividend date is Wednesday, October 30. Bank of Montreal’s dividend payout ratio is currently 75.25%.

Hedge funds influence Bank of Montreal

Several hedge funds and other institutional investors have recently modified their holdings of BMO. Yousif Capital Management LLC boosted its holdings in shares of Bank of Montreal by 6.4% in the 4th quarter. Yousif Capital Management LLC now owns 12,517 shares of the bank’s stock worth $1,238,000 after acquiring an additional 750 shares actions during that period. Atria Wealth Solutions Inc. purchased a new stake in shares of Bank of Montreal in the fourth quarter valued at about $225,000. Headlands Technologies LLC acquired a new stake in shares of Bank of Montreal in the fourth quarter valued at approximately $44,000. Van ECK Associates Corp raised its stake in Bank of Montreal by 9.6% during the 4th quarter. Van ECK Associates Corp now owns 108,370 shares of the bank’s stock valued at $10,844,000 after acquiring an additional 9,501 shares shares in the last quarter. Finally, Certuity LLC bought a new stake in shares of Bank of Montreal during the fourth quarter valued at about $381,000. Institutional investors and hedge funds own 45.82% of the company’s shares.

About the Bank of Montreal

(Get a free report)

Bank of Montreal offers diversified financial services primarily in North America. It operates through the Canadian P&C, US P&C, BMO Wealth Management and BMO Capital Markets segments. The company’s personal banking products and services include deposits, mortgages, home loans, consumer credit, small business lending, credit cards, cash management, financial and investment advisory and other banking services; and commercial banking products and services include various financing options and treasury and payment solutions, as well as risk management products.

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