Bank of Montreal (TSE:BMO) Sets New 52-Week High – Still a Buy?

Bank of Montreal (TSE:BMO) (NYSE:BMO)’s share price reached a new 52-week high on Monday . The company traded as high as C$254.70 and last traded at C$252.79, with a volume of 523790 shares. The stock had previously closed at C$253.39.

Analyst Upgrades and Downgrades

BMO has been the subject of several analyst reports. TD raised their price target on shares of Bank of Montreal from C$234.00 to C$239.00 and gave the company a “buy” rating in a report on Thursday, May 28th. Desjardins upped their price target on shares of Bank of Montreal from C$212.00 to C$230.00 and gave the stock a “hold” rating in a report on Thursday, May 28th. Raymond James Financial increased their price objective on Bank of Montreal from C$227.00 to C$233.50 and gave the stock an “outperform” rating in a research report on Thursday, May 28th. Barclays lifted their price objective on Bank of Montreal from C$199.00 to C$203.00 and gave the company an “underweight” rating in a research note on Thursday, May 28th. Finally, National Bank Financial lifted their price objective on Bank of Montreal from C$223.00 to C$236.00 and gave the stock a “sector perform” rating in a report on Thursday, May 28th. Six research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of C$226.46.

Bank of Montreal Price Performance

The firm’s 50 day moving average is C$232.17 and its 200 day moving average is C$206.51. The company has a market capitalization of C$179.37 billion, a PE ratio of 19.54, a P/E/G ratio of 0.71 and a beta of 1.22.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last announced its quarterly earnings results on Wednesday, May 27th. The bank reported C$3.67 earnings per share for the quarter. Bank of Montreal had a net margin of 12.63% and a return on equity of 11.25%. The business had revenue of C$9.57 billion during the quarter. As a group, analysts predict that Bank of Montreal will post 9.6514585 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. Investors of record on Wednesday, August 26th will be paid a $1.71 dividend. The ex-dividend date of this dividend is Thursday, July 30th. This is a boost from Bank of Montreal’s previous quarterly dividend of $1.67. This represents a $6.84 annualized dividend and a dividend yield of 2.7%. Bank of Montreal’s payout ratio is 50.69%.

Insider Activity at Bank of Montreal

In related news, Director William Darryl White sold 27,167 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of C$225.74, for a total transaction of C$6,132,678.58. Following the transaction, the director owned 87,166 shares in the company, valued at C$19,676,852.84. The trade was a 23.76% decrease in their position. Also, insider Mona Elizabeth Malone sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of C$244.65, for a total value of C$1,223,250.00. Following the transaction, the insider directly owned 1,758 shares of the company’s stock, valued at C$430,094.70. The trade was a 73.99% decrease in their position. Insiders have sold a total of 45,004 shares of company stock worth $10,339,904 in the last 90 days. Company insiders own 0.03% of the company’s stock.

Bank of Montreal Company Profile

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.