Bank of Montreal (TSE:BMO) Reaches New 12-Month High on Analyst Upgrade

Bank of Montreal (TSE:BMO) (NYSE:BMO)’s stock price reached a new 52-week high during mid-day trading on Friday after CIBC raised their price target on the stock from C$192.00 to C$199.00. CIBC currently has an outperform rating on the stock. Bank of Montreal traded as high as C$182.78 and last traded at C$181.52, with a volume of 693554 shares trading hands. The stock had previously closed at C$181.91.

Other equities research analysts also recently issued research reports about the company. Raymond James Financial raised their price target on Bank of Montreal from C$182.00 to C$183.00 in a report on Monday, December 8th. Bank of America raised their target price on shares of Bank of Montreal from C$179.00 to C$183.00 in a research note on Friday, December 5th. TD Securities upped their price target on shares of Bank of Montreal from C$182.00 to C$184.00 and gave the company a “hold” rating in a research note on Friday, December 5th. Natl Bk Canada downgraded shares of Bank of Montreal from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 1st. Finally, Desjardins upped their target price on Bank of Montreal from C$177.00 to C$180.00 and gave the company a “hold” rating in a research report on Friday, December 5th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, Bank of Montreal currently has a consensus rating of “Hold” and an average target price of C$182.00.

Bank of Montreal Trading Down 0.3%

The business has a 50-day moving average price of C$175.69 and a two-hundred day moving average price of C$165.16. The stock has a market capitalization of C$128.52 billion, a P/E ratio of 15.85, a P/E/G ratio of 0.71 and a beta of 1.39.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last issued its quarterly earnings results on Thursday, December 4th. The bank reported C$3.28 EPS for the quarter. The company had revenue of C$9.34 billion for the quarter. Bank of Montreal had a return on equity of 9.04% and a net margin of 13.57%. On average, sell-side analysts forecast that Bank of Montreal will post 9.6514585 earnings per share for the current fiscal year.

Bank of Montreal Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Wednesday, November 26th were given a $1.63 dividend. The ex-dividend date was Thursday, October 30th. This represents a $6.52 annualized dividend and a dividend yield of 3.6%. Bank of Montreal’s payout ratio is presently 56.29%.

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.