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

Bank of Montreal (TSE:BMO) (NYSE:BMO) shares reached a new 52-week high on Thursday . The company traded as high as C$191.21 and last traded at C$191.00, with a volume of 983208 shares. The stock had previously closed at C$187.66.

Analysts Set New Price Targets

BMO has been the subject of a number of recent research reports. Bank of America increased their price objective on shares of Bank of Montreal from C$179.00 to C$183.00 in a research note on Friday, December 5th. TD Securities raised their price target on shares of Bank of Montreal from C$182.00 to C$184.00 and gave the stock a “hold” rating in a research note on Friday, December 5th. Raymond James Financial lifted their price objective on Bank of Montreal from C$182.00 to C$183.00 in a report on Monday, December 8th. Royal Bank Of Canada increased their target price on Bank of Montreal from C$163.00 to C$178.00 in a report on Friday, December 5th. Finally, Scotiabank boosted their price target on Bank of Montreal from C$187.00 to C$191.00 in a research note on Friday, January 9th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of C$183.08.

Bank of Montreal Stock Down 1.3%

The business’s fifty day moving average is C$179.64 and its two-hundred day moving average is C$172.24. The firm has a market cap of C$133.71 billion, a price-to-earnings ratio of 16.49, a price-to-earnings-growth ratio of 0.71 and a beta of 1.39.

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

Bank of Montreal Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Wednesday, November 26th were given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date was Thursday, October 30th. Bank of Montreal’s dividend payout ratio (DPR) is presently 56.29%.

About Bank of Montreal

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.