Bank of Montreal (TSE:BMO) Hits New 1-Year High at $25.48

Bank of Montreal (TSE:BMO) (NYSE:BMO) shares reached a new 52-week high on Thursday . The stock traded as high as C$25.48 and last traded at C$122.92, with a volume of 2961141 shares. The stock had previously closed at C$123.34.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on BMO. Scotiabank dropped their price objective on shares of Bank of Montreal from C$145.00 to C$141.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 28th. Canaccord Genuity Group cut their price target on Bank of Montreal from C$137.00 to C$136.00 and set a “buy” rating for the company in a research note on Wednesday, February 28th. National Bankshares lowered their price objective on Bank of Montreal from C$141.00 to C$137.00 in a research note on Wednesday, February 28th. Desjardins dropped their target price on Bank of Montreal from C$135.00 to C$133.00 and set a “buy” rating on the stock in a report on Wednesday, February 28th. Finally, Jefferies Financial Group decreased their price target on Bank of Montreal from C$144.00 to C$136.00 and set a “buy” rating for the company in a report on Wednesday, February 28th. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$132.39.

Bank of Montreal Price Performance

The firm has a market cap of C$89.17 billion, a PE ratio of 16.97, a P/E/G ratio of 0.54 and a beta of 1.18. The business’s fifty day moving average is C$127.69 and its 200-day moving average is C$122.49.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last released its earnings results on Tuesday, February 27th. The bank reported C$2.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$3.03 by C($0.47). Bank of Montreal had a return on equity of 7.28% and a net margin of 17.71%. The firm had revenue of C$7.67 billion during the quarter, compared to analysts’ expectations of C$8.57 billion. Analysts forecast that Bank of Montreal will post 11.3809947 EPS for the current year.

Bank of Montreal Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Monday, April 29th will be paid a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 4.91%. The ex-dividend date of this dividend is Friday, April 26th. Bank of Montreal’s dividend payout ratio is currently 83.08%.

Insiders Place Their Bets

In other news, Director Darrel Hackett sold 3,297 shares of Bank of Montreal stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of C$91.76, for a total value of C$302,532.72. In related news, Senior Officer Nadim Hirji sold 2,882 shares of the business’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of C$130.46, for a total transaction of C$375,985.72. Also, Director Darrel Hackett sold 3,297 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of C$91.76, for a total value of C$302,532.72. Company insiders own 0.03% of the company’s stock.

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.