Bank of Montreal (TSE:BMO) Hits New 1-Year High – Time to Buy?

Bank of Montreal (TSE:BMO) (NYSE:BMO)’s share price reached a new 52-week high on Monday . The stock traded as high as C$225.69 and last traded at C$225.15, with a volume of 64864 shares trading hands. The stock had previously closed at C$220.06.

Analyst Upgrades and Downgrades

Several research firms have recently commented on BMO. TD lifted their price target on shares of Bank of Montreal from C$219.00 to C$234.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. TD Securities raised their target price on Bank of Montreal from C$209.00 to C$219.00 in a research note on Monday, February 9th. Desjardins lifted their target price on Bank of Montreal from C$208.00 to C$212.00 and gave the company a “hold” rating in a research report on Tuesday, May 5th. Canaccord Genuity Group upped their price target on Bank of Montreal from C$224.00 to C$230.00 and gave the company a “buy” rating in a research note on Wednesday, May 20th. Finally, Jefferies Financial Group increased their price target on Bank of Montreal from C$195.00 to C$196.00 in a report on Wednesday, May 20th. Five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Bank of Montreal currently has an average rating of “Hold” and an average target price of C$213.58.

Bank of Montreal Stock Performance

The stock’s 50-day moving average is C$200.32 and its two-hundred day moving average is C$189.95. The stock has a market cap of C$158.44 billion, a PE ratio of 18.73, a PEG ratio of 0.71 and a beta of 1.25.

Bank of Montreal Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 26th. Stockholders of record on Tuesday, May 26th will be paid a $1.67 dividend. The ex-dividend date of this dividend is Wednesday, April 29th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.0%. Bank of Montreal’s payout ratio is presently 54.33%.

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.