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

Bank of Montreal (TSE:BMO) (NYSE:BMO)’s share price hit a new 52-week high during trading on Monday . The company traded as high as C$225.69 and last traded at C$225.15, with a volume of 64864 shares changing hands. The stock had previously closed at C$220.06.

Wall Street Analysts Forecast Growth

BMO has been the topic of a number of research analyst reports. Jefferies Financial Group lifted their price target on Bank of Montreal from C$195.00 to C$196.00 in a research note on Wednesday, May 20th. Raymond James Financial lifted their target price on shares of Bank of Montreal from C$214.00 to C$227.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 13th. Scotiabank upped their target price on shares of Bank of Montreal from C$208.00 to C$209.00 and gave the stock a “sector perform” rating in a report on Monday, May 4th. Canaccord Genuity Group increased their target price on shares of Bank of Montreal from C$224.00 to C$230.00 and gave the company a “buy” rating in a research report on Wednesday, May 20th. Finally, Royal Bank Of Canada decreased 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 research note on Wednesday, March 25th. Five research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of C$213.58.

Bank of Montreal Stock Up 1.0%

The stock has a 50-day moving average of C$200.32 and a 200 day moving average of C$189.95. The stock has a market cap of C$158.44 billion, a PE ratio of 18.73, a P/E/G ratio of 0.71 and a beta of 1.25.

Bank of Montreal Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 26th. Stockholders of record on Tuesday, May 26th will be issued a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Wednesday, April 29th. Bank of Montreal’s payout ratio is currently 54.33%.

Bank of Montreal Company Profile

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.