Bank of Montreal (TSE:BMO) Sets New 52-Week High at $25.15

Bank of Montreal (TSE:BMO) (NYSE:BMO)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$25.15 and last traded at C$126.15, with a volume of 605760 shares changing hands. The stock had previously closed at C$127.84.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on BMO shares. Bank of America raised Bank of Montreal from a “neutral” rating to a “buy” rating and lifted their price objective for the company from C$120.00 to C$145.00 in a report on Monday, December 18th. Canaccord Genuity Group cut their price target on shares of Bank of Montreal from C$137.00 to C$136.00 and set a “buy” rating for the company in a report on Wednesday, February 28th. Scotiabank lowered their price objective on shares of Bank of Montreal from C$145.00 to C$141.00 and set an “outperform” rating for the company in a research report on Wednesday, February 28th. TD Securities reduced their target price on Bank of Montreal from C$140.00 to C$135.00 and set a “buy” rating on the stock in a report on Wednesday, February 28th. Finally, Jefferies Financial Group decreased their target price on Bank of Montreal from C$144.00 to C$136.00 and set a “buy” rating on the stock in a research report on Wednesday, February 28th. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$132.39.

Bank of Montreal Trading Down 1.3 %

The business has a fifty day moving average of C$127.70 and a 200-day moving average of C$121.36. The firm has a market cap of C$91.51 billion, a PE ratio of 17.58, a PEG ratio of 0.54 and a beta of 1.18.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last announced its quarterly earnings data on Tuesday, February 27th. The bank reported C$2.56 earnings per share for the quarter, missing analysts’ consensus estimates of C$3.03 by C($0.47). Bank of Montreal had a net margin of 17.71% and a return on equity of 7.28%. The firm had revenue of C$7.67 billion for the quarter, compared to analysts’ expectations of C$8.57 billion. On average, equities analysts forecast that Bank of Montreal will post 11.3809947 EPS for the current year.

Bank of Montreal Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Monday, April 29th will be issued a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 4.79%. The ex-dividend date is Friday, April 26th. Bank of Montreal’s dividend payout ratio is presently 83.08%.

Insider Buying and Selling

In related news, Senior Officer Nadim Hirji sold 2,882 shares of Bank of Montreal stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of C$130.46, for a total value of C$375,985.72. In other Bank of Montreal news, Director Darrel Hackett sold 3,297 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of C$91.76, for a total value of C$302,532.72. Also, Senior Officer Nadim Hirji sold 2,882 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of C$130.46, for a total value of C$375,985.72. 0.03% of the stock is owned by corporate insiders.

About Bank of Montreal

Bank of Montreal provides diversified financial services primarily in North America. It operates through Canadian P&C, U.S P&C, BMO Wealth Management, and BMO Capital Markets segments. The company's personal banking products and services include deposits, mortgages, home lending, consumer credit, small business lending, credit cards, cash management, financial and investment advice, and other banking services; and commercial banking products and services comprise various of financing options and treasury and payment solutions, as well as risk management products.