Bank of Montreal (TSE:BMO) Sets New 1-Year High – Still a Buy?

Bank of Montreal (TSE:BMO) (NYSE:BMO) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$204.43 and last traded at C$204.27, with a volume of 1887320 shares changing hands. The stock had previously closed at C$201.54.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on BMO shares. National Bank Financial upped their price objective on shares of Bank of Montreal from C$186.00 to C$205.00 and gave the company a “sector perform” rating in a report on Thursday, February 26th. Desjardins upped their target price on shares of Bank of Montreal from C$195.00 to C$208.00 and gave the company a “hold” rating in a research report on Thursday, February 26th. Scotiabank upped their target price on shares of Bank of Montreal from C$191.00 to C$208.00 and gave the company a “sector perform” rating in a research report on Thursday, February 26th. Canaccord Genuity Group upped their target price on shares of Bank of Montreal from C$218.00 to C$224.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Finally, Raymond James Financial raised shares of Bank of Montreal from a “market perform” rating to an “outperform” rating and upped their target price for the company from C$183.00 to C$214.00 in a research report on Friday, February 13th. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Bank of Montreal has an average rating of “Hold” and an average target price of C$201.33.

Bank of Montreal Stock Down 0.3%

The stock’s 50-day simple moving average is C$193.41 and its 200 day simple moving average is C$184.30. The company has a market cap of C$144.28 billion, a price-to-earnings ratio of 17.06, a PEG ratio of 0.71 and a beta of 1.17.

Bank of Montreal Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 26th. Stockholders of record on Tuesday, May 26th will be given a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Wednesday, April 29th. Bank of Montreal’s dividend payout ratio is currently 54.33%.

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.