Bank of Montreal (TSE:BMO) Hits New 12-Month High – Time to Buy?

Bank of Montreal (TSE:BMO) (NYSE:BMO) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as C$192.42 and last traded at C$191.92, with a volume of 2455923 shares traded. The stock had previously closed at C$189.35.

Analyst Upgrades and Downgrades

Several research firms have issued reports on BMO. Royal Bank Of Canada lifted their target price on Bank of Montreal from C$163.00 to C$178.00 in a research note on Friday, December 5th. Canaccord Genuity Group lifted their price objective on shares of Bank of Montreal from C$192.00 to C$201.00 in a research report on Friday, December 5th. Desjardins increased their target price on shares of Bank of Montreal from C$180.00 to C$189.00 and gave the company a “hold” rating in a research report on Thursday, December 18th. CIBC lifted their price target on shares of Bank of Montreal from C$192.00 to C$199.00 and gave the stock an “outperform” rating in a report on Thursday, December 11th. Finally, Scotiabank raised their price objective on Bank of Montreal from C$187.00 to C$191.00 in a research report on Friday, January 9th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of C$185.17.

Bank of Montreal Stock Up 1.1%

The firm has a market capitalization of C$135.66 billion, a price-to-earnings ratio of 16.73, a P/E/G ratio of 0.71 and a beta of 1.39. The company’s 50 day moving average price is C$181.72 and its 200 day moving average price is C$173.85.

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

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.