Bank of Montreal (TSE:BMO) Reaches New 1-Year High at $26.00

Bank of Montreal (TSE:BMO - Get Free Report) NYSE: BMO's stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$26.00 and last traded at C$117.80, with a volume of 561871 shares traded. The stock had previously closed at C$117.02.

Analysts Set New Price Targets

Several research analysts have issued reports on BMO shares. Cormark dropped their target price on Bank of Montreal from C$141.00 to C$133.00 in a research report on Thursday, May 30th. Canaccord Genuity Group dropped their target price on Bank of Montreal from C$136.00 to C$135.00 in a research report on Tuesday, August 13th. UBS Group set a C$122.00 target price on Bank of Montreal and gave the stock a "neutral" rating in a research report on Tuesday, July 2nd. Keefe, Bruyette & Woods cut Bank of Montreal from a "moderate buy" rating to a "hold" rating in a research report on Monday, June 3rd. Finally, Desjardins dropped their target price on Bank of Montreal from C$129.00 to C$125.00 and set a "hold" rating on the stock in a research report on Tuesday, August 6th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, Bank of Montreal currently has a consensus rating of "Moderate Buy" and a consensus target price of C$128.14.

Bank of Montreal Stock Up 0.7 %

The firm has a 50 day moving average price of C$115.94 and a 200 day moving average price of C$122.90. The stock has a market cap of C$85.93 billion, a P/E ratio of 14.13, a P/E/G ratio of 0.54 and a beta of 1.16.

Bank of Montreal (TSE:BMO - Get Free Report) NYSE: BMO last issued its earnings results on Wednesday, May 29th. The bank reported C$2.59 earnings per share (EPS) for the quarter, missing the consensus estimate of C$2.74 by C($0.15). The business had revenue of C$7.97 billion for the quarter, compared to the consensus estimate of C$8.06 billion. Bank of Montreal had a net margin of 20.07% and a return on equity of 8.19%. Equities analysts predict that Bank of Montreal will post 11.6437811 earnings per share for the current fiscal year.

Bank of Montreal Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 27th. Investors of record on Tuesday, August 27th will be paid a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 5.26%. The ex-dividend date of this dividend is Tuesday, July 30th. This is an increase from Bank of Montreal's previous quarterly dividend of $1.51. Bank of Montreal's dividend payout ratio (DPR) is 74.34%.

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.