Bank of Montreal (TSE:BMO) Sets New 12-Month High – Time to Buy?

Bank of Montreal (TSE:BMO) (NYSE:BMO)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as C$250.00 and last traded at C$249.78, with a volume of 391773 shares trading hands. The stock had previously closed at C$248.66.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on BMO. Scotiabank raised their target price on Bank of Montreal from C$234.00 to C$239.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, June 16th. Barclays upped their price target on Bank of Montreal from C$199.00 to C$203.00 and gave the company an “underweight” rating in a research report on Thursday, May 28th. TD increased their price objective on Bank of Montreal from C$234.00 to C$239.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Desjardins lifted their price objective on Bank of Montreal from C$212.00 to C$230.00 and gave the stock a “hold” rating in a research report on Thursday, May 28th. Finally, Canaccord Genuity Group boosted their target price on Bank of Montreal from C$240.00 to C$242.00 and gave the company a “buy” rating in a research note on Friday, June 5th. Six investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of C$224.54.

Bank of Montreal Stock Performance

The business has a fifty day simple moving average of C$223.42 and a two-hundred day simple moving average of C$201.49. The stock has a market cap of C$176.70 billion, a PE ratio of 19.25, a P/E/G ratio of 0.71 and a beta of 1.26.

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

Bank of Montreal Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Tuesday, May 26th were given 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 2.7%. Bank of Montreal’s dividend payout ratio is currently 50.69%.

Insider Buying and Selling

In related news, insider Sharon Marie Haward-Laird sold 4,519 shares of the business’s stock in a transaction dated 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, insider Mona Elizabeth Malone sold 5,000 shares of the company’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of C$244.65, for a total transaction of C$1,223,250.00. Following the completion of the sale, the insider owned 1,758 shares in the company, valued at approximately C$430,094.70. This trade represents a 73.99% decrease in their position. Insiders sold a total of 45,004 shares of company stock worth $10,339,904 in the last three months. 0.03% of the stock is owned by corporate 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.