Bank of Montreal (TSE:BMO) Hits New 52-Week High at $25.96

Bank of Montreal (TSE:BMO) (NYSE:BMO) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as C$25.96 and last traded at C$120.47, with a volume of 2920027 shares trading hands. The stock had previously closed at C$119.15.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Canaccord Genuity Group reduced their price target on shares of Bank of Montreal from C$140.00 to C$136.00 and set a “buy” rating on the stock in a research note on Thursday, May 30th. Desjardins lowered shares of Bank of Montreal from a “buy” rating to a “hold” rating and reduced their target price for the stock from C$133.00 to C$129.00 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. Jefferies Financial Group increased their price objective on Bank of Montreal from C$136.00 to C$142.00 in a research note on Monday, May 13th. Finally, Keefe, Bruyette & Woods lowered Bank of Montreal from a “moderate buy” rating to a “hold” rating in a research report on Monday, June 3rd. Four research 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, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$131.36.

Bank of Montreal Stock Performance

The firm’s 50 day moving average is C$119.40 and its 200 day moving average is C$124.62. The stock has a market cap of C$87.23 billion, a P/E ratio of 16.34, a price-to-earnings-growth ratio of 0.54 and a beta of 1.19.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last issued its quarterly earnings results on Wednesday, May 29th. The bank reported C$2.59 earnings per share (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 business had revenue of C$7.97 billion for the quarter, compared to analyst estimates of C$8.06 billion. As a group, 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 declared a quarterly dividend, which will be paid on Tuesday, August 27th. Shareholders of record on Tuesday, July 30th will be paid a $1.55 dividend. The ex-dividend date of this dividend is Tuesday, July 30th. This is a boost 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 5.16%. Bank of Montreal’s dividend payout ratio (DPR) is 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.