Bank Of Montreal (NYSE:BMO) Sets New 1-Year High – Here’s Why

Shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) reached a new 52-week high on Monday . The company traded as high as $166.55 and last traded at $165.66, with a volume of 24973 shares trading hands. The stock had previously closed at $164.37.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on BMO shares. Barclays restated an “underweight” rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. National Bank Financial restated a “sector perform” rating on shares of Bank Of Montreal in a research report on Wednesday, February 25th. Jefferies Financial Group reiterated a “hold” rating on shares of Bank Of Montreal in a research report on Wednesday, February 25th. Zacks Research cut Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Finally, Weiss Ratings raised Bank Of Montreal from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, May 28th. Five equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $163.00.

Bank Of Montreal Price Performance

The stock’s fifty day simple moving average is $150.86 and its 200 day simple moving average is $140.66. 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 firm has a market capitalization of $115.72 billion, a P/E ratio of 17.54, a P/E/G ratio of 0.92 and a beta of 0.95.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last issued its quarterly earnings results on Wednesday, May 27th. The bank reported $2.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.54 by $0.14. Bank Of Montreal had a net margin of 12.60% and a return on equity of 13.04%. The business had revenue of $7.04 billion for the quarter, compared to analyst estimates of $6.98 billion. During the same quarter in the prior year, the business posted $2.62 EPS. Bank Of Montreal’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, equities research analysts predict that Bank Of Montreal will post 11.82 EPS for the current year.

Bank Of Montreal Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Thursday, July 30th will be issued a $1.71 dividend. This is a boost from Bank Of Montreal’s previous quarterly dividend of $1.67. The ex-dividend date is Thursday, July 30th. This represents a $6.84 annualized dividend and a yield of 4.1%. Bank Of Montreal’s dividend payout ratio is currently 52.55%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of BMO. WFA of San Diego LLC acquired a new stake in Bank Of Montreal during the second quarter valued at $28,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Bank Of Montreal in the fourth quarter worth about $29,000. Larson Financial Group LLC raised its position in shares of Bank Of Montreal by 466.7% in the third quarter. Larson Financial Group LLC now owns 238 shares of the bank’s stock worth $31,000 after acquiring an additional 196 shares during the period. Flagship Harbor Advisors LLC purchased a new stake in shares of Bank Of Montreal during the 4th quarter worth about $34,000. Finally, Western Wealth Management LLC purchased a new stake in shares of Bank Of Montreal during the 1st quarter worth about $38,000. 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.