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

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

Analysts Set New Price Targets

A number of equities analysts recently commented on BMO shares. Barclays decreased their target price on shares of Bank of Montreal from C$140.00 to C$132.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. Keefe, Bruyette & Woods cut Bank of Montreal from a “moderate buy” rating to a “hold” rating in a report on Monday, June 3rd. Royal Bank of Canada decreased their price target on Bank of Montreal from C$130.00 to C$124.00 and set an “outperform” rating on the stock in a research note on Thursday, May 30th. National Bankshares dropped their price objective on 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. Finally, Scotiabank cut their target price on shares of Bank of Montreal from C$137.00 to C$129.00 and set an “outperform” rating on the stock in a report on Thursday, May 30th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$131.36.

Bank of Montreal Price Performance

The stock has a market cap of C$87.68 billion, a P/E ratio of 16.58, a P/E/G ratio of 0.54 and a beta of 1.19. The firm’s 50 day moving average price is C$119.06 and its 200-day moving average price is C$124.52.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last released 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). The business had revenue of C$7.97 billion during the quarter, compared to the consensus estimate of C$8.06 billion. Bank of Montreal had a net margin of 17.71% and a return on equity of 7.28%. On average, analysts expect that Bank of Montreal will post 11.2532189 earnings per share for the current year.

Bank of Montreal Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 27th will be given a $1.55 dividend. This is a positive change from Bank of Montreal’s previous quarterly dividend of $1.51. The ex-dividend date of this dividend is Tuesday, July 30th. This represents a $6.20 dividend on an annualized basis and a yield of 5.13%. Bank of Montreal’s payout ratio 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.