Bank of Montreal (TSE:BMO) Hits New 1-Year High – What’s Next?

Shares of Bank of Montreal (TSE:BMO) (NYSE:BMO) hit a new 52-week high during mid-day trading on Monday . The company traded as high as C$26.72 and last traded at C$129.86, with a volume of 898344 shares. The stock had previously closed at C$128.95.

Wall Street Analyst Weigh In

BMO has been the subject of a number of recent analyst reports. Desjardins dropped their price objective on Bank of Montreal from C$125.00 to C$120.00 and set a “hold” rating for the company in a report on Wednesday, August 28th. CIBC upped their price target on shares of Bank of Montreal from C$116.00 to C$120.00 in a report on Friday, September 6th. TD Securities lowered shares of Bank of Montreal from a “buy” rating to a “hold” rating and decreased their price objective for the company from C$130.00 to C$114.00 in a report on Wednesday, August 28th. Royal Bank of Canada dropped their target price on shares of Bank of Montreal from C$118.00 to C$106.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 28th. Finally, Jefferies Financial Group reduced their target price on shares of Bank of Montreal from C$141.00 to C$124.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of C$120.77.

Bank of Montreal Price Performance

The company has a market cap of C$93.17 billion, a PE ratio of 14.70, a price-to-earnings-growth ratio of 0.71 and a beta of 1.16. The business has a fifty day simple moving average of C$120.39 and a two-hundred day simple moving average of C$120.79.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last issued its quarterly earnings data on Tuesday, August 27th. The bank reported C$2.64 earnings per share for the quarter, missing analysts’ consensus estimates of C$2.72 by C($0.08). Bank of Montreal had a return on equity of 8.49% and a net margin of 21.20%. The company had revenue of C$8.19 billion for the quarter, compared to analysts’ expectations of C$8.23 billion. On average, equities research analysts predict that Bank of Montreal will post 9.6514585 EPS for the current year.

Bank of Montreal Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 26th will be issued a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.85%. The ex-dividend date of this dividend is Wednesday, October 30th. Bank of Montreal’s dividend payout ratio is currently 71.35%.

Insider Buying and Selling

In related news, Senior Officer David Robert Casper sold 12,819 shares of the stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of C$121.85, for a total transaction of C$1,562,007.97. In related news, Senior Officer Steven Lloyd Tennyson sold 7,908 shares of the business’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of C$112.16, for a total transaction of C$886,977.10. Also, Senior Officer David Robert Casper sold 12,819 shares of the company’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of C$121.85, for a total value of C$1,562,007.97. 0.03% of the stock is currently owned by company 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.