Bank of Montreal (TSE:BMO) Hits New 12-Month High at $25.96

Bank of Montreal (TSE:BMO) (NYSE:BMO)’s stock price 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 traded. The stock had previously closed at C$119.15.

Analyst Ratings Changes

BMO has been the subject of a number of research analyst reports. National Bankshares dropped their price objective on shares of Bank of Montreal from C$143.00 to C$136.00 and set an “outperform” rating for the company in a research note on Thursday, May 30th. Jefferies Financial Group upped their price target on shares of Bank of Montreal from C$136.00 to C$142.00 in a research report on Monday, May 13th. Desjardins downgraded Bank of Montreal from a “buy” rating to a “hold” rating and lowered their price target for the company from C$133.00 to C$129.00 in a research report on Thursday, May 30th. 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. 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 research note on Thursday, May 30th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$131.36.

Bank of Montreal Price Performance

The stock has a 50-day moving average price of C$119.40 and a 200-day moving average price of C$124.62. The firm has a market capitalization of C$87.23 billion, a PE 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 posted its quarterly earnings data 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). 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 analysts’ expectations of C$8.06 billion. As a group, equities research analysts predict that Bank of Montreal will post 11.2532189 earnings per share for the current fiscal year.

Bank of Montreal Increases Dividend

The business also recently declared 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. 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 annualized dividend and a yield of 5.16%. Bank of Montreal’s dividend payout ratio is currently 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.