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

Bank Of Montreal (NYSE:BMO) (TSE:BMO) shares hit a new 52-week high on Monday . The stock traded as high as $175.54 and last traded at $175.2970, with a volume of 1477375 shares trading hands. The stock had previously closed at $175.10.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on BMO shares. Scotiabank reaffirmed an “outperform” rating on shares of Bank Of Montreal in a research note on Tuesday, June 16th. TD Securities reissued a “buy” rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. Barclays reissued an “underweight” rating on shares of Bank Of Montreal in a research note on Thursday, May 28th. Weiss Ratings cut Bank Of Montreal from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, June 12th. Finally, Raymond James Financial reissued an “outperform” rating on shares of Bank Of Montreal in a research note on Tuesday, May 12th. Five investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Bank Of Montreal presently has an average rating of “Hold” and an average price target of $163.00.

Bank Of Montreal Stock Down 0.1%

The company’s 50 day moving average is $160.04 and its 200 day moving average is $145.46. The company has a market cap of $122.49 billion, a PE ratio of 18.58, a P/E/G ratio of 0.98 and a beta of 0.95. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.11.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly earnings data on Wednesday, May 27th. The bank reported $2.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.54 by $0.14. The company had revenue of $7.04 billion during the quarter, compared to analysts’ expectations of $6.98 billion. Bank Of Montreal had a net margin of 12.60% and a return on equity of 13.04%. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the company earned $2.62 EPS. As a group, analysts predict that Bank Of Montreal will post 11.82 earnings per share for the current fiscal year.

Bank Of Montreal Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Thursday, July 30th will be paid a dividend of $1.71 per share. This is a boost from Bank Of Montreal’s previous quarterly dividend of $1.67. This represents a $6.84 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Thursday, July 30th. Bank Of Montreal’s payout ratio is presently 50.96%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Jefferies Financial Group Inc. grew its position in shares of Bank Of Montreal by 6,300.1% during the 4th quarter. Jefferies Financial Group Inc. now owns 479,492 shares of the bank’s stock worth $62,233,000 after buying an additional 472,000 shares in the last quarter. Aviso Financial Inc. increased its stake in shares of Bank Of Montreal by 24.2% during the third quarter. Aviso Financial Inc. now owns 1,002,099 shares of the bank’s stock valued at $130,601,000 after buying an additional 195,154 shares during the period. Vanguard Group Inc. raised its holdings in shares of Bank Of Montreal by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 33,017,205 shares of the bank’s stock valued at $4,287,878,000 after acquiring an additional 673,248 shares in the last quarter. Mn Services Vermogensbeheer B.V. raised its holdings in shares of Bank Of Montreal by 16.3% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 165,213 shares of the bank’s stock valued at $21,484,000 after acquiring an additional 23,113 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in Bank Of Montreal by 2,127.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 349,694 shares of the bank’s stock worth $45,387,000 after acquiring an additional 333,994 shares during the period. Institutional investors own 45.82% of the company’s stock.

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.