Bank Of Montreal (NYSE:BMO) Hits New 1-Year High – Should You Buy?

Bank Of Montreal (NYSE:BMO) (TSE:BMO) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $134.03 and last traded at $133.8390, with a volume of 158459 shares. The stock had previously closed at $132.20.

Analyst Ratings Changes

BMO has been the topic of several research reports. TD Securities reissued a “hold” rating on shares of Bank Of Montreal in a research report on Friday, December 5th. Natl Bk Canada lowered Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 1st. Wall Street Zen raised Bank Of Montreal from a “sell” rating to a “hold” rating in a research report on Saturday, December 6th. Raymond James Financial started coverage on Bank Of Montreal in a research report on Monday, November 24th. They set a “market perform” rating for the company. Finally, Royal Bank Of Canada cut shares of Bank Of Montreal from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $168.00 to $163.00 in a report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, Bank Of Montreal has an average rating of “Hold” and a consensus price target of $163.00.

Bank Of Montreal Trading Up 1.5%

The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.11. The company has a fifty day moving average of $126.67 and a two-hundred day moving average of $121.78. The stock has a market capitalization of $95.16 billion, a price-to-earnings ratio of 16.46, a P/E/G ratio of 1.10 and a beta of 0.94.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings results on Thursday, December 4th. The bank reported $2.36 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.20. Bank Of Montreal had a net margin of 11.13% and a return on equity of 11.76%. The business had revenue of $6.67 billion for the quarter, compared to analysts’ expectations of $6.51 billion. During the same period in the prior year, the company posted $1.90 EPS. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, research analysts expect that Bank Of Montreal will post 7.71 EPS for the current year.

Bank Of Montreal Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 26th. Investors of record on Friday, January 30th will be paid a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date of this dividend is Friday, January 30th. This is a positive change from Bank Of Montreal’s previous quarterly dividend of $1.63. Bank Of Montreal’s dividend payout ratio is currently 57.35%.

Institutional Investors Weigh In On Bank Of Montreal

A number of institutional investors and hedge funds have recently bought and sold shares of BMO. Canerector Inc. lifted its stake in Bank Of Montreal by 18,035.0% during the third quarter. Canerector Inc. now owns 22,668,750 shares of the bank’s stock worth $2,952,605,000 after purchasing an additional 22,543,750 shares during the last quarter. Norges Bank bought a new stake in shares of Bank Of Montreal during the 2nd quarter worth about $1,184,220,000. Public Sector Pension Investment Board lifted its position in Bank Of Montreal by 2,986.1% in the second quarter. Public Sector Pension Investment Board now owns 2,170,118 shares of the bank’s stock worth $240,009,000 after purchasing an additional 2,099,800 shares during the period. TD Asset Management Inc boosted its stake in Bank Of Montreal by 10.3% during the third quarter. TD Asset Management Inc now owns 19,079,026 shares of the bank’s stock valued at $2,486,691,000 after buying an additional 1,789,188 shares in the last quarter. Finally, UBS Group AG grew its position in Bank Of Montreal by 155.3% in the third quarter. UBS Group AG now owns 2,127,377 shares of the bank’s stock worth $277,091,000 after buying an additional 1,294,169 shares during the last quarter. Hedge funds and other institutional investors own 45.82% of the company’s stock.

About Bank Of Montreal

Bank of Montreal (NYSE:BMO), commonly known as BMO Financial Group, is one of Canada’s largest and longest-established banks. Founded in Montreal and headquartered in Montreal, Quebec, the bank provides a broad range of financial services to retail, commercial, corporate and institutional clients. BMO is publicly listed in both Canada and the United States and operates under a consolidated financial services model that integrates banking, capital markets, wealth management and asset management activities.

BMO’s core businesses include personal and commercial banking—offering checking and savings accounts, lending, mortgages, and small-business services—alongside wealth management and private banking through its asset and investment management divisions.