Bank Of Montreal (NYSE:BMO) Sets New 12-Month High – Here’s What Happened

Bank Of Montreal (NYSE:BMO) (TSE:BMO)’s share price hit a new 52-week high on Monday . The stock traded as high as $175.54 and last traded at $175.2970, with a volume of 1477375 shares. The stock had previously closed at $175.10.

Analyst Ratings Changes

Several brokerages have recently commented on BMO. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. Scotiabank reissued an “outperform” rating on shares of Bank Of Montreal in a report on Tuesday, June 16th. Weiss Ratings lowered shares of Bank Of Montreal from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, June 12th. Raymond James Financial reissued an “outperform” rating on shares of Bank Of Montreal in a report on Tuesday, May 12th. Finally, Zacks Research lowered shares of Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Five analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $163.00.

Bank Of Montreal Price Performance

The firm has a market cap of $122.49 billion, a PE ratio of 18.58, a PEG ratio of 0.98 and a beta of 0.95. The firm has a fifty day simple moving average of $160.04 and a two-hundred day simple moving average of $145.46. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.02 and a current ratio of 1.02.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last posted its earnings results on Wednesday, May 27th. The bank reported $2.68 EPS for the quarter, beating analysts’ consensus estimates of $2.54 by $0.14. The firm had revenue of $7.04 billion during the quarter, compared to the consensus estimate of $6.98 billion. Bank Of Montreal had a return on equity of 13.04% and a net margin of 12.60%.The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the company earned $2.62 EPS. Equities analysts predict that Bank Of Montreal will post 11.82 EPS for the current fiscal year.

Bank Of Montreal Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Thursday, July 30th will be issued a $1.71 dividend. This is a boost from Bank Of Montreal’s previous quarterly dividend of $1.67. The ex-dividend date is Thursday, July 30th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 3.9%. Bank Of Montreal’s payout ratio is presently 50.96%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Code Waechter LLC lifted its stake in shares of Bank Of Montreal by 1.7% in the 4th quarter. Code Waechter LLC now owns 4,486 shares of the bank’s stock valued at $582,000 after purchasing an additional 75 shares during the last quarter. Larson Financial Group LLC increased its position in shares of Bank Of Montreal by 33.2% during the 4th quarter. Larson Financial Group LLC now owns 317 shares of the bank’s stock valued at $41,000 after purchasing an additional 79 shares during the last quarter. Naples Global Advisors LLC increased its position in shares of Bank Of Montreal by 0.5% during the 4th quarter. Naples Global Advisors LLC now owns 17,780 shares of the bank’s stock valued at $2,308,000 after purchasing an additional 80 shares during the last quarter. Checchi Capital Advisers LLC raised its holdings in Bank Of Montreal by 2.9% during the 1st quarter. Checchi Capital Advisers LLC now owns 3,141 shares of the bank’s stock valued at $425,000 after buying an additional 88 shares during the period. Finally, Turn8 Private Wealth Inc. lifted its position in Bank Of Montreal by 0.8% in the first quarter. Turn8 Private Wealth Inc. now owns 11,215 shares of the bank’s stock worth $1,514,000 after buying an additional 93 shares during the last quarter. Institutional investors own 45.82% of the company’s stock.

About Bank Of Montreal

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.