Bank of Montreal (TSE:BMO) Sets New 52-Week High – What’s Next?

Bank of Montreal (TSE:BMO) (NYSE:BMO) shares hit a new 52-week high on Tuesday . The company traded as high as C$212.43 and last traded at C$212.37, with a volume of 955805 shares changing hands. The stock had previously closed at C$209.94.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Barclays lowered shares of Bank of Montreal from an “equal weight” rating to a “strong sell” rating in a report on Friday, March 20th. Royal Bank Of Canada cut their price target on shares of Bank of Montreal from C$219.00 to C$205.00 and set a “sector perform” rating on the stock in a report on Wednesday, March 25th. Scotiabank raised their price target on shares of Bank of Montreal from C$208.00 to C$209.00 and gave the stock a “sector perform” rating in a research report on Monday, May 4th. Jefferies Financial Group decreased their price objective on shares of Bank of Montreal from C$197.00 to C$195.00 in a research note on Thursday, February 26th. Finally, TD Securities raised their price objective on Bank of Montreal from C$209.00 to C$219.00 in a report on Monday, February 9th. Five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of C$207.77.

Bank of Montreal Stock Up 1.2%

The stock has a market cap of C$149.79 billion, a PE ratio of 17.71, a P/E/G ratio of 0.71 and a beta of 1.25. The stock has a 50-day moving average of C$198.36 and a 200 day moving average of C$188.73.

Bank of Montreal Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 26th. Shareholders of record on Tuesday, May 26th will be paid a dividend of $1.67 per share. The ex-dividend date of this dividend is Wednesday, April 29th. This represents a $6.68 annualized dividend and a yield of 3.1%. Bank of Montreal’s dividend payout ratio (DPR) is 54.33%.

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.