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Bank of Montreal (NYSE:BMO)’s share price reached a new 52-week high during mid-day trading on Wednesday after the company announced better than expected quarterly earnings, American Banking reports. The company traded as high as $76.95 and last traded at $76.79, with a volume of 496,559 shares changing hands. The stock had previously closed at $74.86.

The company reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.06. The company had revenue of $4.22 billion for the quarter, compared to the consensus estimate of $4.26 billion. During the same quarter in the previous year, the company posted $1.68 earnings per share. The company’s revenue for the quarter was up 5.4% on a year-over-year basis.

The company also recently declared a quarterly dividend, which is scheduled for Wednesday, November 26th. Shareholders of record on Monday, November 3rd will be given a dividend of $0.7111 per share. This represents a $2.84 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date of this dividend is Thursday, October 30th.

A number of analysts have recently weighed in on BMO shares. Analysts at TD Securities upgraded shares of Bank of Montreal from a “hold” rating to a “buy” rating in a research note on Wednesday. Separately, analysts at Barclays reiterated an “equal weight” rating on shares of Bank of Montreal in a research note on Tuesday, August 19th. They now have a $84.00 price target on the stock, up previously from $80.00. Finally, analysts at Credit Suisse downgraded shares of Bank of Montreal from an “outperform” rating to a “neutral” rating in a research note on Thursday, July 31st. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $76.50.

The stock has a 50-day moving average of $74.54 and a 200-day moving average of $69.94. The company has a market cap of $49.420 billion and a P/E ratio of 12.58.

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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