Bank Of Montreal (NYSE:BMO) Sets New 52-Week High – Still a Buy?

Bank Of Montreal (NYSE:BMO) (TSE:BMO) shares hit a new 52-week high during trading on Monday . The company traded as high as $153.67 and last traded at $152.7150, with a volume of 681793 shares. The stock had previously closed at $151.95.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Jefferies Financial Group reiterated a “hold” rating on shares of Bank Of Montreal in a research note on Wednesday, February 25th. National Bank Financial restated a “sector perform” rating on shares of Bank Of Montreal in a research report on Wednesday, February 25th. Barclays cut Bank Of Montreal from an “equal weight” rating to an “underweight” rating in a research report on Friday, March 20th. TD Securities upgraded Bank Of Montreal from a “hold” rating to a “buy” rating in a research note on Tuesday, January 27th. Finally, Wall Street Zen raised Bank Of Montreal from a “sell” rating to a “hold” rating in a report on Sunday, February 8th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $163.00.

Bank Of Montreal Stock Performance

The company has a market capitalization of $107.66 billion, a price-to-earnings ratio of 17.75, a price-to-earnings-growth ratio of 0.98 and a beta of 0.92. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a 50 day moving average price of $141.33 and a two-hundred day moving average price of $133.60.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last issued its quarterly earnings results on Wednesday, February 25th. The bank reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.35 by $0.16. Bank Of Montreal had a net margin of 11.76% and a return on equity of 12.16%. The business had revenue of $7.21 billion for the quarter, compared to the consensus estimate of $6.73 billion. During the same quarter in the prior year, the company earned $3.04 EPS. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. On average, analysts predict that Bank Of Montreal will post 7.71 EPS for the current fiscal year.

Bank Of Montreal Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 26th. Investors of record on Wednesday, April 29th will be given a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 4.4%. The ex-dividend date is Wednesday, April 29th. Bank Of Montreal’s payout ratio is 55.75%.

Institutional Investors Weigh In On Bank Of Montreal

Hedge funds and other institutional investors have recently made changes to their positions in the company. AQR Capital Management LLC lifted its stake in shares of Bank Of Montreal by 87.1% during the first quarter. AQR Capital Management LLC now owns 5,742 shares of the bank’s stock valued at $548,000 after acquiring an additional 2,673 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in Bank Of Montreal in the second quarter worth about $1,018,000. Cerity Partners LLC raised its holdings in Bank Of Montreal by 1.4% during the 2nd quarter. Cerity Partners LLC now owns 12,364 shares of the bank’s stock worth $1,368,000 after purchasing an additional 167 shares during the last quarter. Qube Research & Technologies Ltd raised its holdings in Bank Of Montreal by 166.3% during the 2nd quarter. Qube Research & Technologies Ltd now owns 411,108 shares of the bank’s stock worth $45,518,000 after purchasing an additional 256,755 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its position in Bank Of Montreal by 5,614.3% during the 2nd quarter. NewEdge Advisors LLC now owns 2,800 shares of the bank’s stock valued at $310,000 after purchasing an additional 2,751 shares during the period. 45.82% of the stock is owned by institutional investors and hedge funds.

Bank Of Montreal Company Profile

Bank of Montreal (NYSE:BMO), commonly known as BMO Financial Group, is one of Canada’s largest and longest-established banks. Founded in Montreal and headquartered in Montreal, Quebec, the bank provides a broad range of financial services to retail, commercial, corporate and institutional clients. BMO is publicly listed in both Canada and the United States and operates under a consolidated financial services model that integrates banking, capital markets, wealth management and asset management activities.

BMO’s core businesses include personal and commercial banking—offering checking and savings accounts, lending, mortgages, and small-business services—alongside wealth management and private banking through its asset and investment management divisions.