Bank of Montreal (TSE:BMO) Hits New 52-Week High After Analyst Upgrade

Bank of Montreal (TSE:BMO) (NYSE:BMO) shares hit a new 52-week high during mid-day trading on Tuesday after Scotiabank raised their price target on the stock from C$209.00 to C$234.00. Scotiabank currently has a sector outperform rating on the stock. Bank of Montreal traded as high as C$229.43 and last traded at C$225.18, with a volume of 2814835 shares changing hands. The stock had previously closed at C$223.93.

BMO has been the topic of several other reports. Raymond James Financial upped their price objective on shares of Bank of Montreal from C$227.00 to C$233.50 and gave the stock an “outperform” rating in a research report on Thursday, May 28th. Barclays upped their price objective on shares of Bank of Montreal from C$199.00 to C$203.00 and gave the stock an “underweight” rating in a research report on Thursday, May 28th. Desjardins upped their price objective on shares of Bank of Montreal from C$212.00 to C$230.00 and gave the stock a “hold” rating in a research report on Thursday, May 28th. Royal Bank Of Canada upped their price objective on shares of Bank of Montreal from C$205.00 to C$230.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 28th. Finally, TD Securities upped 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. Six research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of C$223.13.

Bank of Montreal Price Performance

The stock has a market capitalization of C$158.73 billion, a PE ratio of 17.29, a P/E/G ratio of 0.71 and a beta of 1.25. The firm’s 50 day simple moving average is C$204.52 and its 200 day simple moving average is C$192.08.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last posted its quarterly earnings results on Wednesday, May 27th. The bank reported C$3.67 EPS for the quarter. The firm had revenue of C$9.57 billion for the quarter. Bank of Montreal had a net margin of 12.63% and a return on equity of 11.25%. Analysts expect that Bank of Montreal will post 9.6514585 earnings per share for the current fiscal year.

Bank of Montreal Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Tuesday, May 26th were paid a dividend of $1.67 per share. The ex-dividend date of this dividend was Wednesday, April 29th. This represents a $6.68 annualized dividend and a dividend yield of 3.0%. Bank of Montreal’s dividend payout ratio (DPR) is 50.69%.

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.