Bank of Montreal Reaches New 1-Year High at $73.92 (BMO)
Bank of Montreal (NYSE:BMO)’s share price hit a new 52-week high on Monday , American Banking News.com reports. The stock traded as high as $73.92 and last traded at $73.73, with a volume of 136,529 shares traded. The stock had previously closed at $73.64.
A number of research firms have recently commented on BMO. Analysts at RBC Capital downgraded shares of Bank of Montreal from an “outperform” rating to a “sector perform” rating in a research note on Thursday, May 29th. Separately, analysts at Barclays initiated coverage on shares of Bank of Montreal in a research note on Thursday, May 8th. They set an “equal weight” rating on the stock. Finally, analysts at Canaccord Genuity initiated coverage on shares of Bank of Montreal in a research note on Thursday, May 1st. They set a “hold” rating on the stock. Eight equities research analysts have rated the stock with a hold rating, The company has a consensus rating of “Hold” and a consensus price target of $66.23.
The stock has a 50-day moving average of $70.46 and a 200-day moving average of $67.13. The company has a market cap of $47.466 billion and a price-to-earnings ratio of 12.06.
Bank of Montreal (NYSE:BMO) last issued its quarterly earnings data on Wednesday, May 28th. The company reported $1.63 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.52 by $0.11. The company had revenue of $4.04 billion for the quarter. During the same quarter in the previous year, the company posted $1.46 earnings per share. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, analysts predict that Bank of Montreal will post $6.54 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, August 26th. Investors of record on Friday, August 1st will be paid a dividend of $0.7178 per share. This represents a $2.87 annualized dividend and a dividend yield of 3.90%. The ex-dividend date is Wednesday, July 30th.
Bank of Montreal (NYSE:BMO) is a diversified financial services provider that provides a range of retail banking, wealth management and investment banking products and services.
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