Bank Of Montreal (NYSE:BMO) Hits New 1-Year High – Still a Buy?

Bank Of Montreal (NYSE:BMO) (TSE:BMO)’s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $134.03 and last traded at $133.8390, with a volume of 158459 shares trading hands. The stock had previously closed at $132.20.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Natl Bk Canada cut shares of Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 1st. Weiss Ratings reiterated a “buy (b-)” rating on shares of Bank Of Montreal in a research report on Monday, December 29th. Wall Street Zen upgraded shares of Bank Of Montreal from a “sell” rating to a “hold” rating in a report on Saturday, December 6th. Raymond James Financial started coverage on shares of Bank Of Montreal in a research report on Monday, November 24th. They issued a “market perform” rating for the company. Finally, TD Securities reiterated a “hold” rating on shares of Bank Of Montreal in a report on Friday, December 5th. One investment 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 data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $163.00.

Bank Of Montreal Stock Performance

The company has a market capitalization of $95.16 billion, a PE ratio of 16.46, a PEG ratio of 1.10 and a beta of 0.94. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.11. The business has a 50 day simple moving average of $126.67 and a 200 day simple moving average of $121.78.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings data on Thursday, December 4th. The bank reported $2.36 EPS for the quarter, topping the consensus estimate of $2.16 by $0.20. The business had revenue of $6.67 billion during the quarter, compared to the consensus estimate of $6.51 billion. Bank Of Montreal had a net margin of 11.13% and a return on equity of 11.76%. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.90 earnings per share. Equities research analysts predict that Bank Of Montreal will post 7.71 EPS for the current fiscal year.

Bank Of Montreal Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 26th. Stockholders of record on Friday, January 30th will be given a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 5.0%. This is a positive change from Bank Of Montreal’s previous quarterly dividend of $1.63. The ex-dividend date is Friday, January 30th. Bank Of Montreal’s dividend payout ratio (DPR) is 57.35%.

Institutional Investors Weigh In On Bank Of Montreal

Several institutional investors have recently bought and sold shares of the company. True Wealth Design LLC acquired a new position in Bank Of Montreal in the third quarter valued at about $28,000. Larson Financial Group LLC increased its holdings in Bank Of Montreal by 466.7% in the 3rd quarter. Larson Financial Group LLC now owns 238 shares of the bank’s stock valued at $31,000 after purchasing an additional 196 shares during the last quarter. WFA of San Diego LLC purchased a new stake in Bank Of Montreal in the second quarter valued at approximately $28,000. Sunbelt Securities Inc. acquired a new position in Bank Of Montreal during the third quarter worth $42,000. Finally, Princeton Global Asset Management LLC boosted its position in shares of Bank Of Montreal by 40.0% during the second quarter. Princeton Global Asset Management LLC now owns 350 shares of the bank’s stock worth $39,000 after buying an additional 100 shares during the period. 45.82% of the stock is currently owned by institutional investors and hedge funds.

About Bank Of Montreal

Bank of Montreal (NYSE:BMO), commonly known as BMO Financial Group, is one of Canada’s largest and longest-established banks. Founded in Montreal and headquartered in Montreal, Quebec, the bank provides a broad range of financial services to retail, commercial, corporate and institutional clients. BMO is publicly listed in both Canada and the United States and operates under a consolidated financial services model that integrates banking, capital markets, wealth management and asset management activities.

BMO’s core businesses include personal and commercial banking—offering checking and savings accounts, lending, mortgages, and small-business services—alongside wealth management and private banking through its asset and investment management divisions.