Bank of Montreal (TSE:BMO) Reaches New 52-Week High at $25.18

Bank of Montreal (TSE:BMO) (NYSE:BMO)’s share price reached a new 52-week high during mid-day 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 changing hands. The stock had previously closed at C$127.36.

Analysts Set New Price Targets

Several analysts have weighed in on BMO shares. TD Securities dropped their price objective on Bank of Montreal from C$140.00 to C$135.00 and set a “buy” rating for the company in a report on Wednesday, February 28th. Jefferies Financial Group dropped their price target on shares of Bank of Montreal from C$144.00 to C$136.00 and set a “buy” rating for the company in a research note on Wednesday, February 28th. Canaccord Genuity Group lowered their target price 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. Scotiabank dropped their target price on shares of Bank of Montreal from C$145.00 to C$141.00 and set an “outperform” rating for the company in a research report on Wednesday, February 28th. Finally, Desjardins decreased their price objective on Bank of Montreal from C$135.00 to C$133.00 and set a “buy” rating for the company in a research note on Wednesday, February 28th. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of C$132.39.

Bank of Montreal Trading Down 0.4 %

The company has a market capitalization of C$91.91 billion, a P/E ratio of 17.43, a PEG ratio of 0.54 and a beta of 1.18. The firm’s 50 day moving average price is C$127.99 and its two-hundred day moving average price is C$122.07.

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 for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of C$8.57 billion. Analysts anticipate that Bank of Montreal will post 11.3809947 earnings per share for the current fiscal year.

Bank of Montreal Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Monday, April 29th will be given a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 4.77%. The ex-dividend date of this dividend is Friday, April 26th. Bank of Montreal’s dividend payout ratio is currently 83.08%.

Insider Activity at Bank of Montreal

In other Bank of Montreal news, Director Darrel Hackett sold 3,297 shares of the business’s stock in a transaction that occurred 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. In other news, Senior Officer Nadim Hirji sold 2,882 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of C$130.46, for a total value of C$375,985.72. Also, Director Darrel Hackett sold 3,297 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of C$91.76, for a total value of C$302,532.72. Insiders own 0.03% of the company’s stock.

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.