Bank of Montreal (TSE:BMO) Reaches New 12-Month High at $25.18

Bank of Montreal (TSE:BMO) (NYSE:BMO)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as C$25.18 and last traded at C$128.11, with a volume of 2115320 shares trading hands. The stock had previously closed at C$127.36.

Wall Street Analyst Weigh In

BMO has been the subject of several research analyst reports. CIBC decreased their price target on shares of Bank of Montreal from C$125.00 to C$120.00 and set a “neutral” rating for the company in a research note on Friday, March 8th. TD Securities reduced their price objective on shares of Bank of Montreal from C$140.00 to C$135.00 and set a “buy” rating for the company in a research note on Wednesday, February 28th. National Bankshares cut their price target on shares of Bank of Montreal from C$141.00 to C$137.00 in a report on Wednesday, February 28th. Jefferies Financial Group dropped their price objective on shares of Bank of Montreal from C$144.00 to C$136.00 and set a “buy” rating for the company in a report on Wednesday, February 28th. Finally, Canaccord Genuity Group dropped their price objective on shares of Bank of Montreal from C$137.00 to C$136.00 and set a “buy” rating for the company in a report on Wednesday, February 28th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$132.39.

Bank of Montreal Stock Up 0.6 %

The company’s fifty day simple moving average is C$127.87 and its 200 day simple moving average is C$121.88. The firm has a market capitalization of C$92.94 billion, a PE ratio of 17.52, a price-to-earnings-growth ratio of 0.54 and a beta of 1.18.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last released its earnings results on Tuesday, February 27th. The bank reported C$2.56 earnings per share (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 business had revenue of C$7.67 billion for the quarter, compared to analysts’ expectations of C$8.57 billion. Equities research analysts forecast that Bank of Montreal will post 11.3809947 EPS for the current year.

Bank of Montreal Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Monday, April 29th will be issued a $1.51 dividend. The ex-dividend date of this dividend is Friday, April 26th. This represents a $6.04 dividend on an annualized basis and a yield of 4.71%. Bank of Montreal’s payout ratio is currently 83.08%.

Insiders Place Their Bets

In other Bank of Montreal news, Senior Officer Nadim Hirji sold 2,882 shares of Bank of Montreal stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of C$130.46, for a total value of C$375,985.72. In related news, Senior Officer Nadim Hirji sold 2,882 shares of Bank of Montreal stock in a transaction on 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 business’s stock in a transaction on 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 currently owned by insiders.

About Bank of Montreal

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.