Bank Of Montreal (NYSE:BMO) Hits New 52-Week High – What’s Next?

Shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) reached a new 52-week high on Monday . The company traded as high as $143.63 and last traded at $143.1940, with a volume of 20742 shares changing hands. The stock had previously closed at $139.83.

Wall Street Analyst Weigh In

BMO has been the subject of a number of analyst reports. Weiss Ratings restated a “buy (b-)” rating on shares of Bank Of Montreal in a research report on Monday, December 29th. TD Securities raised shares of Bank Of Montreal from a “hold” rating to a “buy” rating in a report on Tuesday, January 27th. Scotiabank restated a “sector perform” rating on shares of Bank Of Montreal in a research report on Friday, January 9th. Wall Street Zen upgraded Bank Of Montreal from a “sell” rating to a “hold” rating in a research report on Sunday. Finally, Natl Bk Canada cut Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 1st. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $163.00.

Bank Of Montreal Stock Up 0.6%

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 stock has a 50-day simple moving average of $133.73 and a two-hundred day simple moving average of $126.61. The firm has a market cap of $103.04 billion, a PE ratio of 17.85, a P/E/G ratio of 1.18 and a beta of 0.94.

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

Bank Of Montreal Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 26th. Shareholders of record on Friday, January 30th will be paid a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 4.6%. This is a boost from Bank Of Montreal’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, January 30th. Bank Of Montreal’s payout ratio is 59.68%.

Hedge Funds Weigh In On Bank Of Montreal

Several institutional investors and hedge funds have recently made changes to their positions in the business. Code Waechter LLC raised its position in Bank Of Montreal by 1.7% in the 4th quarter. Code Waechter LLC now owns 4,486 shares of the bank’s stock worth $582,000 after purchasing an additional 75 shares during the period. Larson Financial Group LLC grew its stake in shares of Bank Of Montreal by 33.2% during the fourth quarter. Larson Financial Group LLC now owns 317 shares of the bank’s stock valued at $41,000 after buying an additional 79 shares during the last quarter. Naples Global Advisors LLC increased its holdings in shares of Bank Of Montreal by 0.5% in the fourth quarter. Naples Global Advisors LLC now owns 17,780 shares of the bank’s stock worth $2,308,000 after buying an additional 80 shares during the period. Allworth Financial LP lifted its stake in shares of Bank Of Montreal by 4.6% in the 3rd quarter. Allworth Financial LP now owns 2,121 shares of the bank’s stock valued at $276,000 after acquiring an additional 94 shares during the last quarter. Finally, Choreo LLC boosted its holdings in Bank Of Montreal by 3.6% during the 3rd quarter. Choreo LLC now owns 2,735 shares of the bank’s stock valued at $356,000 after acquiring an additional 95 shares during the period. Institutional investors own 45.82% of the company’s stock.

Bank Of Montreal Company Profile

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.