Bank of Montreal (TSE:BMO) Sets New 12-Month High at $25.15

Bank of Montreal (TSE:BMO) (NYSE:BMO) hit a new 52-week high during trading on Tuesday . The company traded as high as C$25.15 and last traded at C$126.15, with a volume of 605760 shares changing hands. The stock had previously closed at C$127.84.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on BMO. Scotiabank lowered their target price on Bank of Montreal from C$145.00 to C$141.00 and set an “outperform” rating on the stock in a report on Wednesday, February 28th. Desjardins lowered their target price on Bank of Montreal from C$135.00 to C$133.00 and set a “buy” rating on the stock in a report on Wednesday, February 28th. CIBC lowered their target price on Bank of Montreal from C$125.00 to C$120.00 and set a “neutral” rating on the stock in a report on Friday, March 8th. TD Securities lowered their target price on Bank of Montreal from C$140.00 to C$135.00 and set a “buy” rating on the stock in a report on Wednesday, February 28th. Finally, Jefferies Financial Group lowered their target price on Bank of Montreal from C$144.00 to C$136.00 and set a “buy” rating on the stock in a report on Wednesday, February 28th. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Bank of Montreal presently has an average rating of “Moderate Buy” and a consensus target price of C$132.39.

Bank of Montreal Stock Performance

The company’s 50 day moving average price is C$127.77 and its 200 day moving average price is C$121.47. The company has a market cap of C$90.88 billion, a price-to-earnings ratio of 17.23, a P/E/G ratio of 0.54 and a beta of 1.18.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last issued its earnings results on Tuesday, February 27th. The bank reported C$2.56 EPS for the quarter, missing the consensus estimate of C$3.03 by C($0.47). Bank of Montreal had a net margin of 17.71% and a return on equity of 7.28%. The firm had revenue of C$7.67 billion during the quarter, compared to analyst estimates of C$8.57 billion. As a group, analysts predict that Bank of Montreal will post 11.3809947 EPS for the current year.

Bank of Montreal Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Monday, April 29th will be paid a $1.51 dividend. The ex-dividend date of this dividend is Friday, April 26th. This represents a $6.04 annualized dividend and a dividend yield of 4.82%. Bank of Montreal’s dividend payout ratio is presently 83.08%.

Insider Activity

In other news, Director Darrel Hackett sold 3,297 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of C$91.76, for a total value of C$302,532.72. In related news, Senior Officer Nadim Hirji sold 2,882 shares of the company’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of C$130.46, for a total transaction of C$375,985.72. Also, Director Darrel Hackett sold 3,297 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of C$91.76, for a total transaction of C$302,532.72. 0.03% of the stock is owned by corporate insiders.

Bank of Montreal Company Profile

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.