Bank of Montreal (TSE:BMO) Reaches New 1-Year High After Analyst Upgrade

Bank of Montreal (TSE:BMO) (NYSE:BMO) shares hit a new 52-week high during trading on Monday after Scotiabank raised their price target on the stock from C$112.00 to C$147.00. The stock traded as high as C$134.16 and last traded at C$133.63, with a volume of 655030 shares. The stock had previously closed at C$132.68.

Several other equities research analysts have also weighed in on BMO. TD Securities lifted their price target on Bank of Montreal from C$114.00 to C$131.00 in a research report on Friday, November 15th. Royal Bank of Canada reduced their target price on shares of Bank of Montreal from C$118.00 to C$106.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 28th. Desjardins lowered their price target on shares of Bank of Montreal from C$125.00 to C$120.00 and set a “hold” rating for the company in a research report on Wednesday, August 28th. CIBC boosted their price objective on shares of Bank of Montreal from C$116.00 to C$120.00 in a research note on Friday, September 6th. Finally, Cormark decreased their target price on shares of Bank of Montreal from C$129.00 to C$118.00 in a research note on Wednesday, August 28th. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of C$127.33.

Insider Buying and Selling

In other Bank of Montreal news, Senior Officer Steven Lloyd Tennyson sold 7,908 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of C$112.16, for a total transaction of C$886,977.10. Also, Senior Officer David Robert Casper sold 12,819 shares of the firm’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of C$121.85, for a total value of C$1,562,007.97. 0.03% of the stock is owned by corporate insiders.

Bank of Montreal Stock Up 0.7 %

The business has a fifty day simple moving average of C$125.76 and a two-hundred day simple moving average of C$121.11. The company has a market cap of C$97.48 billion, a P/E ratio of 15.37, a P/E/G ratio of 0.71 and a beta of 1.16.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last posted its quarterly earnings data on Tuesday, August 27th. The bank reported C$2.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$2.72 by C($0.08). Bank of Montreal had a return on equity of 8.49% and a net margin of 21.20%. The business had revenue of C$8.19 billion during the quarter, compared to analysts’ expectations of C$8.23 billion. On average, equities analysts predict that Bank of Montreal will post 9.6514585 EPS for the current fiscal year.

Bank of Montreal Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 26th will be paid a $1.55 dividend. The ex-dividend date of this dividend is Wednesday, October 30th. This represents a $6.20 annualized dividend and a dividend yield of 4.64%. Bank of Montreal’s dividend payout ratio (DPR) is 71.35%.

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.