Bank of Montreal (TSE:BMO) Hits New 1-Year High – What’s Next?

Bank of Montreal (TSE:BMO) (NYSE:BMO)’s stock price hit a new 52-week high on Monday . The company traded as high as C$225.69 and last traded at C$225.15, with a volume of 64864 shares. The stock had previously closed at C$220.06.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Canadian Imperial Bank of Commerce increased their target price on shares of Bank of Montreal from C$211.00 to C$226.00 and gave the stock an “outperformer” rating in a report on Thursday, May 14th. Canaccord Genuity Group increased their target price on shares of Bank of Montreal from C$224.00 to C$230.00 and gave the stock a “buy” rating in a report on Wednesday, May 20th. National Bank Financial increased their target price on shares of Bank of Montreal from C$205.00 to C$223.00 and gave the stock a “sector perform” rating in a report on Friday, May 15th. Jefferies Financial Group increased their target price on shares of Bank of Montreal from C$195.00 to C$196.00 in a report on Wednesday, May 20th. Finally, Desjardins increased their target price on shares of Bank of Montreal from C$208.00 to C$212.00 and gave the stock a “hold” rating in a report on Tuesday, May 5th. Five equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of C$213.58.

Bank of Montreal Stock Performance

The stock’s fifty day moving average is C$201.77 and its two-hundred day moving average is C$190.67. The firm has a market cap of C$157.65 billion, a price-to-earnings ratio of 18.64, a PEG ratio of 0.71 and a beta of 1.25.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last released its quarterly earnings data on Wednesday, May 27th. The bank reported C$3.67 earnings per share for the quarter. Bank of Montreal had a net margin of 11.77% and a return on equity of 10.47%. The business had revenue of C$9.57 billion for the quarter. Sell-side analysts predict that Bank of Montreal will post 9.6514585 earnings per share for the current year.

Bank of Montreal Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Tuesday, May 26th were issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Wednesday, April 29th. Bank of Montreal’s dividend payout ratio (DPR) is 54.33%.

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.