Bank of Montreal (NYSE:BMO) Reaches New 52-Week High at $92.08

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Bank of Montreal (NYSE:BMO) (TSE:BMO)’s share price hit a new 52-week high during trading on Monday . The company traded as high as $92.08 and last traded at $92.01, with a volume of 12603 shares trading hands. The stock had previously closed at $91.67.

A number of brokerages recently commented on BMO. Canaccord Genuity increased their price target on Bank of Montreal from $106.50 to $112.50 and gave the company a “buy” rating in a research note on Tuesday, March 2nd. Bank of America upgraded Bank of Montreal from a “neutral” rating to a “buy” rating in a report on Monday, March 8th. Zacks Investment Research upgraded Bank of Montreal from a “hold” rating to a “buy” rating and set a $87.00 price target on the stock in a report on Wednesday, February 17th. National Bank Financial upgraded Bank of Montreal from a “sector perform” rating to an “outperform” rating in a report on Monday, March 8th. Finally, BMO Capital Markets upgraded Bank of Montreal from a “neutral” rating to a “buy” rating in a report on Tuesday, March 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $98.44.

The company has a market cap of $59.50 billion, a P/E ratio of 16.28, a PEG ratio of 1.51 and a beta of 1.29. The firm has a 50 day moving average of $86.77 and a 200-day moving average of $74.61. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.17.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last announced its quarterly earnings data on Monday, February 22nd. The bank reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $1.40. Bank of Montreal had a return on equity of 10.69% and a net margin of 14.82%. The company had revenue of $6.37 billion for the quarter, compared to analysts’ expectations of $5.96 billion. During the same quarter in the prior year, the firm earned $2.41 earnings per share. Bank of Montreal’s revenue was up 5.7% compared to the same quarter last year. On average, research analysts predict that Bank of Montreal will post 6.48 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 26th. Investors of record on Monday, May 3rd will be paid a $0.8402 dividend. The ex-dividend date of this dividend is Friday, April 30th. This represents a $3.36 annualized dividend and a yield of 3.65%. This is a boost from Bank of Montreal’s previous quarterly dividend of $0.80. Bank of Montreal’s dividend payout ratio is 58.12%.

Large investors have recently made changes to their positions in the stock. International Assets Investment Management LLC bought a new position in Bank of Montreal in the fourth quarter worth approximately $26,000. Reby Advisors LLC bought a new stake in Bank of Montreal during the 4th quarter valued at $30,000. Perigon Wealth Management LLC bought a new stake in Bank of Montreal during the 4th quarter valued at $41,000. JJJ Advisors Inc. boosted its position in Bank of Montreal by 1,008.4% during the 4th quarter. JJJ Advisors Inc. now owns 920 shares of the bank’s stock valued at $70,000 after acquiring an additional 837 shares in the last quarter. Finally, Graves Light Private Wealth Management Inc. bought a new stake in Bank of Montreal during the 4th quarter valued at $76,000. 39.18% of the stock is currently owned by institutional investors.

Bank of Montreal Company Profile (NYSE:BMO)

Bank of Montreal provides diversified financial services primarily in North America. The company's personal banking products and services include checking and savings accounts, credit cards, mortgages, and financial and investment advice services; and commercial banking products and services comprise business deposit accounts, commercial credit cards, business loans and commercial mortgages, cash management solutions, foreign exchange, specialized banking programs, treasury and payment solutions, and risk management products for small business and commercial banking customers.

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