Bank Of Montreal (NYSE:BMO) Reaches New 1-Year High – Here’s What Happened

Bank Of Montreal (NYSE:BMO) (TSE:BMO)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $153.67 and last traded at $152.7150, with a volume of 681793 shares traded. The stock had previously closed at $151.95.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. National Bank Financial restated a “sector perform” rating on shares of Bank Of Montreal in a report on Wednesday, February 25th. TD Securities raised Bank Of Montreal from a “hold” rating to a “buy” rating in a report on Tuesday, January 27th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Bank Of Montreal in a report on Monday, December 29th. Barclays downgraded shares of Bank Of Montreal from an “equal weight” rating to an “underweight” rating in a report on Friday, March 20th. Finally, Scotiabank reiterated a “sector perform” rating on shares of Bank Of Montreal in a report on Friday, January 9th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $163.00.

Bank Of Montreal Trading Up 0.6%

The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.02. The company’s 50 day moving average is $141.33 and its two-hundred day moving average is $133.60. The firm has a market cap of $107.66 billion, a P/E ratio of 17.75, a PEG ratio of 0.98 and a beta of 0.92.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last issued its quarterly earnings results on Wednesday, February 25th. The bank reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.35 by $0.16. Bank Of Montreal had a return on equity of 12.16% and a net margin of 11.76%.The firm had revenue of $7.21 billion for the quarter, compared to analyst estimates of $6.73 billion. During the same period in the previous year, the company posted $3.04 earnings per share. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, sell-side analysts predict that Bank Of Montreal will post 7.71 earnings per share for the current year.

Bank Of Montreal Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 26th. Stockholders of record on Wednesday, April 29th will be given a dividend of $1.67 per share. The ex-dividend date is Wednesday, April 29th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 4.4%. Bank Of Montreal’s payout ratio is currently 55.75%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of BMO. True Wealth Design LLC bought a new stake in Bank Of Montreal in the 3rd quarter valued at $28,000. WFA of San Diego LLC acquired a new stake in shares of Bank Of Montreal during the 2nd quarter valued at about $28,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Bank Of Montreal during the 4th quarter valued at about $29,000. Larson Financial Group LLC increased its stake in Bank Of Montreal by 466.7% in the third quarter. Larson Financial Group LLC now owns 238 shares of the bank’s stock valued at $31,000 after acquiring an additional 196 shares during the period. Finally, Flagship Harbor Advisors LLC bought a new stake in Bank Of Montreal in the fourth quarter valued at about $34,000. 45.82% of the stock is owned by institutional investors.

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.