Bank of Montreal (TSE:BMO) Hits New 12-Month High at $26.00

Bank of Montreal (TSE:BMO) (NYSE:BMO)’s stock price hit a new 52-week high during trading on Monday . The company traded as high as C$26.00 and last traded at C$117.80, with a volume of 561871 shares. The stock had previously closed at C$117.02.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on BMO shares. Jefferies Financial Group dropped their price objective on shares of Bank of Montreal from C$141.00 to C$124.00 and set a “buy” rating for the company in a report on Monday, August 12th. National Bankshares dropped their price target on Bank of Montreal from C$136.00 to C$131.00 and set an “outperform” rating for the company in a research note on Friday. Scotiabank reduced their price objective on Bank of Montreal from C$129.00 to C$123.00 in a research report on Monday. Royal Bank of Canada lowered Bank of Montreal from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from C$124.00 to C$118.00 in a research report on Tuesday, July 30th. Finally, UBS Group set a C$122.00 price objective on shares of Bank of Montreal and gave the company a “neutral” rating in a research note on Tuesday, July 2nd. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$128.14.

Bank of Montreal Stock Up 0.7 %

The firm has a market capitalization of C$85.93 billion, a P/E ratio of 14.12, a P/E/G ratio of 0.54 and a beta of 1.16. The company has a fifty day simple moving average of C$115.91 and a 200 day simple moving average of C$122.96.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last announced its quarterly earnings results on Wednesday, May 29th. The bank reported C$2.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$2.74 by C($0.15). The firm had revenue of C$7.97 billion during the quarter, compared to the consensus estimate of C$8.06 billion. Bank of Montreal had a return on equity of 8.19% and a net margin of 20.07%. As a group, equities analysts expect that Bank of Montreal will post 11.6437811 earnings per share for the current fiscal year.

Bank of Montreal Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 27th will be issued a dividend of $1.55 per share. This is an increase from Bank of Montreal’s previous quarterly dividend of $1.51. This represents a $6.20 dividend on an annualized basis and a dividend yield of 5.26%. The ex-dividend date of this dividend is Tuesday, July 30th. Bank of Montreal’s dividend payout ratio is presently 74.34%.

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.