Bank of Montreal (TSE:BMO) Sets New 12-Month High After Dividend Announcement

Shares of Bank of Montreal (TSE:BMO) (NYSE:BMO) reached a new 52-week high on Tuesday after the company announced a dividend. The stock traded as high as C$151.08 and last traded at C$151.01, with a volume of 1061796 shares trading hands. The stock had previously closed at C$142.35.

The newly announced dividend which will be paid on Tuesday, May 27th. Shareholders of record on Tuesday, April 29th will be given a dividend of $1.59 per share. This represents a $6.36 annualized dividend and a yield of 4.21%. Bank of Montreal’s dividend payout ratio (DPR) is presently 61.20%.

Analyst Upgrades and Downgrades

BMO has been the subject of a number of recent analyst reports. TD Securities raised their price objective on Bank of Montreal from C$114.00 to C$131.00 in a research report on Friday, November 15th. Royal Bank of Canada upgraded shares of Bank of Montreal from a “sector perform” rating to an “outperform” rating and upped their price target for the company from C$133.00 to C$161.00 in a research note on Wednesday, January 8th. National Bankshares increased their price target on shares of Bank of Montreal from C$127.00 to C$148.00 in a report on Wednesday, November 20th. Canaccord Genuity Group increased their target price on Bank of Montreal from C$143.00 to C$148.00 in a research note on Friday, December 6th. Finally, Jefferies Financial Group lifted their target price on Bank of Montreal from C$126.00 to C$140.00 in a report on Tuesday, February 18th. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$139.50.

Bank of Montreal Price Performance

The firm’s fifty day moving average price is C$141.62 and its two-hundred day moving average price is C$130.40. The stock has a market cap of C$109.38 billion, a price-to-earnings ratio of 14.91, a price-to-earnings-growth ratio of 0.71 and a beta of 1.16.

Insider Buying and Selling

In related news, Director William Darryl White sold 11,376 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of C$140.79, for a total transaction of C$1,601,592.91. 0.03% of the stock is owned by company insiders.

Bank of Montreal Company Profile

Bank of Montreal is a diversified financial-services provider based in North America, operating four business segments: Canadian personal and commercial banking, U.S. P&C banking, wealth management, and capital markets.