Bank of Montreal (TSE:BMO) Sets New 12-Month High on Analyst Upgrade

Bank of Montreal (TSE:BMO) (NYSE:BMO) shares reached a new 52-week high on Monday after Scotiabank raised their price target on the stock from C$187.00 to C$191.00. The company traded as high as C$185.88 and last traded at C$185.51, with a volume of 709227 shares changing hands. The stock had previously closed at C$184.56.

Several other brokerages have also issued reports on BMO. Canaccord Genuity Group upped their price target on Bank of Montreal from C$192.00 to C$201.00 in a research note on Friday, December 5th. Barclays upped their target price on Bank of Montreal from C$177.00 to C$181.00 and gave the stock an “equal weight” rating in a research report on Friday, December 5th. Bank of America increased their target price on Bank of Montreal from C$179.00 to C$183.00 in a report on Friday, December 5th. CIBC lifted their price target on shares of Bank of Montreal from C$192.00 to C$199.00 and gave the company an “outperform” rating in a research report on Thursday, December 11th. Finally, Raymond James Financial upped their price objective on shares of Bank of Montreal from C$182.00 to C$183.00 in a report on Monday, December 8th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of C$183.08.

Bank of Montreal Trading Up 0.7%

The stock has a fifty day moving average of C$177.06 and a two-hundred day moving average of C$170.01. The company has a market capitalization of C$131.78 billion, a PE ratio of 16.25, a PEG ratio of 0.71 and a beta of 1.39.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last posted its quarterly earnings results on Thursday, December 4th. The bank reported C$3.28 EPS for the quarter. The company had revenue of C$9.34 billion during the quarter. Bank of Montreal had a net margin of 13.57% and a return on equity of 9.04%. Equities analysts forecast that Bank of Montreal will post 9.6514585 EPS for the current year.

Bank of Montreal Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Wednesday, November 26th were issued a dividend of $1.63 per share. The ex-dividend date was Thursday, October 30th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 3.5%. Bank of Montreal’s dividend payout ratio is 56.29%.

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.