Bank of Montreal (TSE:BMO) Hits New 12-Month High – Should You Buy?

Bank of Montreal (TSE:BMO) (NYSE:BMO) shares hit a new 52-week high on Monday . The company traded as high as C$250.00 and last traded at C$249.78, with a volume of 391773 shares trading hands. The stock had previously closed at C$248.66.

Analysts Set New Price Targets

Several equities analysts recently issued reports on BMO shares. Jefferies Financial Group boosted their price target on shares of Bank of Montreal from C$195.00 to C$196.00 in a research report on Wednesday, May 20th. Barclays raised their price objective on shares of Bank of Montreal from C$199.00 to C$203.00 and gave the stock an “underweight” rating in a report on Thursday, May 28th. Canadian Imperial Bank of Commerce lifted their price objective on Bank of Montreal from C$226.00 to C$244.00 and gave the company an “outperformer” rating in a research report on Thursday, May 28th. TD upped their target price on Bank of Montreal from C$234.00 to C$239.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Finally, Canaccord Genuity Group increased their target price on Bank of Montreal from C$240.00 to C$242.00 and gave the stock a “buy” rating in a research report on Friday, June 5th. Six analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of C$224.54.

Bank of Montreal Stock Performance

The business’s 50-day moving average is C$221.66 and its 200-day moving average is C$200.45. The company has a market capitalization of C$176.42 billion, a PE ratio of 19.22, a PEG ratio of 0.71 and a beta of 1.26.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last announced its quarterly earnings data on Wednesday, May 27th. The bank reported C$3.67 earnings per share for the quarter. Bank of Montreal had a net margin of 12.63% and a return on equity of 11.25%. The business had revenue of C$9.57 billion for the quarter. Analysts expect that Bank of Montreal will post 9.6514585 EPS for the current year.

Bank of Montreal Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Tuesday, May 26th were given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Wednesday, April 29th. Bank of Montreal’s dividend payout ratio (DPR) is 50.69%.

Insider Buying and Selling at Bank of Montreal

In other Bank of Montreal news, insider Sharon Marie Haward-Laird sold 4,519 shares of Bank of Montreal stock in a transaction on Monday, June 1st. The stock was sold at an average price of C$225.85, for a total transaction of C$1,020,616.15. Also, Director William Darryl White sold 27,167 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of C$225.74, for a total value of C$6,132,678.58. Following the completion of the sale, the director directly owned 87,166 shares in the company, valued at C$19,676,852.84. This trade represents a 23.76% decrease in their ownership of the stock. Over the last 90 days, insiders sold 45,004 shares of company stock worth $10,339,904. 0.03% of the stock is owned by insiders.

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.