Bank Of Montreal (NYSE:BMO) Sets New 52-Week High – Should You Buy?

Bank Of Montreal (NYSE:BMO) (TSE:BMO) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $139.10 and last traded at $140.3650, with a volume of 673 shares traded. The stock had previously closed at $138.02.

Analyst Ratings Changes

Several research firms recently weighed in on BMO. Scotiabank restated a “sector perform” rating on shares of Bank Of Montreal in a report on Friday, January 9th. Raymond James Financial assumed coverage on Bank Of Montreal in a research report on Monday, November 24th. They issued a “market perform” rating on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Bank Of Montreal in a research note on Monday, December 29th. Royal Bank Of Canada lowered Bank Of Montreal from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from $168.00 to $163.00 in a research note on Friday, October 3rd. Finally, TD Securities raised Bank Of Montreal from a “hold” rating to a “buy” rating in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, Bank Of Montreal has an average rating of “Moderate Buy” and an average target price of $163.00.

Bank Of Montreal Stock Performance

The company has a market capitalization of $98.61 billion, a price-to-earnings ratio of 17.04, a price-to-earnings-growth ratio of 1.13 and a beta of 0.94. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11. The stock has a 50-day simple moving average of $130.27 and a 200-day simple moving average of $124.72.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly earnings results on Thursday, December 4th. The bank reported $2.36 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.20. The business had revenue of $6.67 billion during the quarter, compared to the consensus estimate of $6.51 billion. Bank Of Montreal had a net margin of 11.13% and a return on equity of 11.76%. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.90 earnings per share. On average, analysts anticipate that Bank Of Montreal will post 7.71 earnings per share for the current year.

Bank Of Montreal Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 26th. Stockholders of record on Friday, January 30th will be given a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend is Friday, January 30th. This is an increase from Bank Of Montreal’s previous quarterly dividend of $1.63. Bank Of Montreal’s payout ratio is presently 59.56%.

Hedge Funds Weigh In On Bank Of Montreal

Several large investors have recently modified their holdings of the stock. True Wealth Design LLC acquired a new stake in Bank Of Montreal during the third quarter valued at approximately $28,000. Larson Financial Group LLC grew its position in shares of Bank Of Montreal by 466.7% in the 3rd quarter. Larson Financial Group LLC now owns 238 shares of the bank’s stock worth $31,000 after acquiring an additional 196 shares in the last quarter. WFA of San Diego LLC bought a new stake in shares of Bank Of Montreal in the 2nd quarter valued at approximately $28,000. Flagship Harbor Advisors LLC acquired a new stake in shares of Bank Of Montreal during the 4th quarter valued at approximately $34,000. Finally, Sunbelt Securities Inc. acquired a new stake in shares of Bank Of Montreal during the 3rd quarter valued at approximately $42,000. Institutional investors own 45.82% of the company’s stock.

Bank Of Montreal Company Profile

Bank of Montreal (NYSE:BMO), commonly known as BMO Financial Group, is one of Canada’s largest and longest-established banks. Founded in Montreal and headquartered in Montreal, Quebec, the bank provides a broad range of financial services to retail, commercial, corporate and institutional clients. BMO is publicly listed in both Canada and the United States and operates under a consolidated financial services model that integrates banking, capital markets, wealth management and asset management activities.

BMO’s core businesses include personal and commercial banking—offering checking and savings accounts, lending, mortgages, and small-business services—alongside wealth management and private banking through its asset and investment management divisions.