Bank of Montreal (TSE:BMO) Hits New 1-Year High – Here’s Why

Bank of Montreal (TSE:BMO) (NYSE:BMO)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as C$238.20 and last traded at C$235.13, with a volume of 413173 shares changing hands. The stock had previously closed at C$235.25.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BMO. TD upped their price objective on Bank of Montreal from C$234.00 to C$239.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Barclays lifted their target price on Bank of Montreal from C$199.00 to C$203.00 and gave the company an “underweight” rating in a research note on Thursday, May 28th. Canadian Imperial Bank of Commerce boosted their price target on Bank of Montreal from C$226.00 to C$244.00 and gave the stock an “outperformer” rating in a report on Thursday, May 28th. Jefferies Financial Group upped their price target on Bank of Montreal from C$195.00 to C$196.00 in a research note on Wednesday, May 20th. Finally, National Bank Financial increased their price objective on shares of Bank of Montreal from C$223.00 to C$236.00 and gave the company a “sector perform” rating in a report on Thursday, May 28th. Six investment 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of C$224.13.

Bank of Montreal Price Performance

The company has a market capitalization of C$165.90 billion, a PE ratio of 18.08, a P/E/G ratio of 0.71 and a beta of 1.26. The business has a 50-day moving average of C$212.38 and a 200 day moving average of C$195.74.

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

Bank of Montreal Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Tuesday, May 26th were issued a $1.67 dividend. The ex-dividend date of this dividend was Wednesday, April 29th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.8%. 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 the stock in a transaction on Monday, June 1st. The shares were 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 Bank of Montreal stock in a transaction on Monday, June 1st. The stock was sold at an average price of C$225.74, for a total transaction of C$6,132,678.58. Following the completion of the transaction, the director directly owned 87,166 shares of the company’s stock, valued at C$19,676,852.84. The trade was a 23.76% decrease in their ownership of the stock. Insiders sold 35,487 shares of company stock worth $8,011,751 in the last 90 days. 0.03% of the stock is currently owned by company insiders.

About Bank of Montreal

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.