Bank of Montreal (TSE:BMO) Reaches New 1-Year High – Here’s What Happened

Bank of Montreal (TSE:BMO) (NYSE:BMO) shares reached a new 52-week high on Monday . The company traded as high as C$209.58 and last traded at C$209.75, with a volume of 415715 shares trading hands. The stock had previously closed at C$208.15.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on BMO. National Bank Financial lifted their price target on 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. Scotiabank lifted their price target on Bank of Montreal from C$191.00 to C$208.00 and gave the company a “sector perform” rating in a report on Thursday, February 26th. Canaccord Genuity Group lifted their price target on Bank of Montreal from C$218.00 to C$224.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Jefferies Financial Group dropped their target price on Bank of Montreal from C$197.00 to C$195.00 in a report on Thursday, February 26th. Finally, Royal Bank Of Canada dropped their target price on Bank of Montreal from C$219.00 to C$205.00 and set a “sector perform” rating on the stock in a report on Wednesday, March 25th. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of C$201.33.

Bank of Montreal Price Performance

The stock has a market cap of C$145.47 billion, a P/E ratio of 17.20, a PEG ratio of 0.71 and a beta of 1.17. The company has a fifty day moving average of C$194.42 and a 200 day moving average of C$185.06.

Bank of Montreal Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 26th. Investors of record on Tuesday, May 26th will be issued a dividend of $1.67 per share. The ex-dividend date of this dividend is Wednesday, April 29th. This represents a $6.68 annualized dividend and a yield of 3.2%. Bank of Montreal’s payout ratio is presently 54.33%.

About Bank of Montreal

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.