Bank of Montreal (TSE:BMO) Sets New 1-Year High at $26.14

Bank of Montreal (TSE:BMO) (NYSE:BMO)’s stock price reached a new 52-week high during trading on Friday . The company traded as high as C$26.14 and last traded at C$122.01, with a volume of 2715985 shares traded. The stock had previously closed at C$120.41.

Analysts Set New Price Targets

Several equities analysts recently commented on BMO shares. Keefe, Bruyette & Woods downgraded Bank of Montreal from a “moderate buy” rating to a “hold” rating in a research report on Monday, June 3rd. Cormark dropped their target price on Bank of Montreal from C$129.00 to C$118.00 in a research report on Wednesday, August 28th. UBS Group set a C$122.00 price objective on shares of Bank of Montreal and gave the company a “neutral” rating in a report on Tuesday, July 2nd. Royal Bank of Canada lowered their price target on Bank of Montreal from C$118.00 to C$106.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 28th. Finally, Barclays reduced their target price on Bank of Montreal from C$140.00 to C$132.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of C$120.77.

Bank of Montreal Stock Up 1.3 %

The business’s 50 day simple moving average is C$115.94 and its two-hundred day simple moving average is C$121.44. The stock has a market capitalization of C$89.00 billion, a P/E ratio of 13.94, a price-to-earnings-growth ratio of 0.54 and a beta of 1.15.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last announced its earnings results on Tuesday, August 27th. The bank reported C$2.64 earnings per share (EPS) for the quarter, missing the consensus estimate of C$2.72 by C($0.08). Bank of Montreal had a net margin of 21.20% and a return on equity of 8.49%. The business had revenue of C$8.19 billion for the quarter, compared to analysts’ expectations of C$8.23 billion. Analysts predict that Bank of Montreal will post 11.1154985 earnings per share for the current year.

Bank of Montreal Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Wednesday, October 30th will be given a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 5.08%. The ex-dividend date is Wednesday, October 30th. Bank of Montreal’s dividend payout ratio is presently 71.35%.

Insider Activity at Bank of Montreal

In related news, Senior Officer Steven Lloyd Tennyson sold 7,908 shares of Bank of Montreal stock in a transaction on Thursday, September 5th. The shares were sold at an average price of C$112.16, for a total value of C$886,977.10. 0.03% of the stock is owned by corporate insiders.

Bank of Montreal Company Profile

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.