Bank of Montreal (TSE:BMO) Hits New 12-Month High Following Analyst Upgrade

Bank of Montreal (TSE:BMO) (NYSE:BMO)’s stock price reached a new 52-week high on Wednesday after Desjardins raised their price target on the stock from C$208.00 to C$212.00. Desjardins currently has a hold rating on the stock. Bank of Montreal traded as high as C$211.55 and last traded at C$211.27, with a volume of 1095631 shares changing hands. The stock had previously closed at C$205.57.

A number of other research firms have also weighed in on BMO. TD Securities boosted their price objective on shares of Bank of Montreal from C$209.00 to C$219.00 in a research report on Monday, February 9th. Canadian Imperial Bank of Commerce boosted their target price on shares of Bank of Montreal from C$209.00 to C$211.00 in a report on Thursday, March 5th. TD boosted their target price on shares of Bank of Montreal from C$219.00 to C$234.00 and gave the company a “buy” rating in a report on Tuesday. Canaccord Genuity Group boosted their target price on shares of Bank of Montreal from C$218.00 to C$224.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Finally, Scotiabank boosted their target price on shares of Bank of Montreal from C$208.00 to C$209.00 and gave the company a “sector perform” rating in a report on Monday. Five investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of C$204.23.

Bank of Montreal Stock Up 2.8%

The company has a market cap of C$148.95 billion, a PE ratio of 17.61, a price-to-earnings-growth ratio of 0.71 and a beta of 1.25. The business’s 50 day moving average price is C$196.38 and its 200-day moving average price is C$186.65.

Bank of Montreal Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 26th. Stockholders of record on Tuesday, May 26th will be paid a dividend of $1.67 per share. The ex-dividend date is Wednesday, April 29th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.2%. Bank of Montreal’s dividend payout ratio (DPR) is currently 54.33%.

About Bank of Montreal

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.