Bank of Montreal (TSE:BMO) Reaches New 12-Month High Following Dividend Announcement

Bank of Montreal (TSE:BMO) (NYSE:BMO)’s stock price reached a new 52-week high during mid-day trading on Tuesday following a dividend announcement from the company. The company traded as high as C$151.08 and last traded at C$151.01, with a volume of 1061796 shares. The stock had previously closed at C$142.35.

The newly announced dividend which will be paid on Tuesday, May 27th. Shareholders of record on Tuesday, April 29th will be issued a dividend of $1.59 per share. This represents a $6.36 annualized dividend and a yield of 4.27%. Bank of Montreal’s dividend payout ratio (DPR) is presently 61.20%.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. TD Securities boosted their price target on shares of Bank of Montreal from C$114.00 to C$131.00 in a research report on Friday, November 15th. CIBC boosted their target price on shares of Bank of Montreal from C$150.00 to C$154.00 in a report on Tuesday, February 18th. Scotiabank dropped their target price on Bank of Montreal from C$160.00 to C$159.00 and set an “outperform” rating on the stock in a research report on Thursday, February 20th. Cibc World Mkts upgraded Bank of Montreal from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 6th. Finally, Royal Bank of Canada upgraded Bank of Montreal from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from C$133.00 to C$161.00 in a research note on Wednesday, January 8th. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of C$139.50.

Bank of Montreal Price Performance

The firm has a market capitalization of C$107.99 billion, a PE ratio of 14.72, a P/E/G ratio of 0.71 and a beta of 1.16. The business’s 50 day moving average is C$141.79 and its two-hundred day moving average is C$130.64.

Insider Activity at Bank of Montreal

In related news, Director William Darryl White sold 11,376 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of C$140.79, for a total value of C$1,601,592.91. 0.03% of the stock is owned by insiders.

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.