Bank of Montreal (TSE:BMO) Sets New 12-Month High at $26.14

Bank of Montreal (TSE:BMO) (NYSE:BMO)’s share price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as C$26.14 and last traded at C$122.01, with a volume of 2715985 shares. The stock had previously closed at C$120.41.

Wall Street Analysts Forecast Growth

BMO has been the topic of several recent research reports. Royal Bank of Canada decreased their price target 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. Barclays decreased their target price on Bank of Montreal from C$140.00 to C$132.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. UBS Group set a C$122.00 target price on shares of Bank of Montreal and gave the company a “neutral” rating in a research report on Tuesday, July 2nd. Scotiabank lowered shares of Bank of Montreal from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from C$123.00 to C$112.00 in a research report on Wednesday, August 28th. Finally, Desjardins lowered their target price 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 note on Wednesday, August 28th. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of C$120.77.

Bank of Montreal Stock Performance

The stock’s fifty day simple moving average is C$115.94 and its 200-day simple moving average is C$121.44. The company has a market capitalization of C$89.00 billion, a PE ratio of 13.94, a price-to-earnings-growth ratio of 0.54 and a beta of 1.15.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last released its quarterly earnings data on Tuesday, August 27th. The bank reported C$2.64 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of C$8.23 billion. On average, equities analysts anticipate that Bank of Montreal will post 11.1154985 EPS for the current year.

Bank of Montreal Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Wednesday, October 30th will be issued a $1.55 dividend. The ex-dividend date of this dividend is Wednesday, October 30th. This represents a $6.20 dividend on an annualized basis and a yield of 5.08%. Bank of Montreal’s dividend payout ratio is currently 71.35%.

Insider Transactions at Bank of Montreal

In other Bank of Montreal news, Senior Officer Steven Lloyd Tennyson sold 7,908 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of C$112.16, for a total value of C$886,977.10. Insiders own 0.03% of the company’s stock.

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.