Bank Of Montreal (NYSE:BMO) Reaches New 1-Year High – Here’s What Happened

Bank Of Montreal (NYSE:BMO) (TSE:BMO)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $154.51 and last traded at $154.5710, with a volume of 153029 shares. The stock had previously closed at $151.02.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on BMO shares. TD Securities raised Bank Of Montreal from a “hold” rating to a “buy” rating in a research note on Tuesday, January 27th. Raymond James Financial upgraded shares of Bank Of Montreal from a “market perform” rating to an “outperform” rating in a report on Friday, February 13th. Zacks Research lowered shares of Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Scotiabank reaffirmed a “sector perform” rating on shares of Bank Of Montreal in a research note on Monday. Finally, Barclays downgraded Bank Of Montreal from an “equal weight” rating to an “underweight” rating in a research note on Friday, March 20th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Bank Of Montreal currently has a consensus rating of “Hold” and a consensus target price of $163.00.

Bank Of Montreal Trading Up 0.3%

The stock has a market cap of $107.14 billion, a price-to-earnings ratio of 17.75, a P/E/G ratio of 0.98 and a beta of 0.94. The business has a 50-day simple moving average of $143.49 and a two-hundred day simple moving average of $135.67. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.02 and a current ratio of 1.02.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings data on Wednesday, February 25th. The bank reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.35 by $0.16. The company had revenue of $7.21 billion for the quarter, compared to the consensus estimate of $6.73 billion. Bank Of Montreal had a net margin of 11.76% and a return on equity of 12.16%. The firm’s revenue was up 6.0% compared to the same quarter last year. During the same period last year, the company earned $3.04 earnings per share. As a group, research analysts forecast that Bank Of Montreal will post 10.25 EPS for the current year.

Bank Of Montreal Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 26th. Shareholders of record on Wednesday, April 29th will be paid a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date is Wednesday, April 29th. Bank Of Montreal’s dividend payout ratio (DPR) is currently 55.75%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Code Waechter LLC boosted its holdings in shares of Bank Of Montreal by 1.7% during the 4th quarter. Code Waechter LLC now owns 4,486 shares of the bank’s stock worth $582,000 after buying an additional 75 shares during the period. Larson Financial Group LLC raised its holdings in Bank Of Montreal by 33.2% in the 4th quarter. Larson Financial Group LLC now owns 317 shares of the bank’s stock valued at $41,000 after acquiring an additional 79 shares during the period. Naples Global Advisors LLC raised its holdings in Bank Of Montreal by 0.5% in the 4th quarter. Naples Global Advisors LLC now owns 17,780 shares of the bank’s stock valued at $2,308,000 after acquiring an additional 80 shares during the period. Checchi Capital Advisers LLC lifted its position in Bank Of Montreal by 2.9% during the first quarter. Checchi Capital Advisers LLC now owns 3,141 shares of the bank’s stock worth $425,000 after acquiring an additional 88 shares during the last quarter. Finally, Turn8 Private Wealth Inc. boosted its holdings in shares of Bank Of Montreal by 0.8% during the first quarter. Turn8 Private Wealth Inc. now owns 11,215 shares of the bank’s stock worth $1,514,000 after acquiring an additional 93 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.