Shares of Bank of Montreal (TSE:BMO – Get Free Report) (NYSE:BMO) hit a new 52-week high during mid-day trading on Monday . The company traded as high as C$238.20 and last traded at C$235.13, with a volume of 413173 shares trading hands. The stock had previously closed at C$235.25.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on BMO. National Bank Financial lifted their target price on Bank of Montreal from C$223.00 to C$236.00 and gave the stock a “sector perform” rating in a report on Thursday, May 28th. Jefferies Financial Group raised their price target on Bank of Montreal from C$195.00 to C$196.00 in a research report on Wednesday, May 20th. Canadian Imperial Bank of Commerce lifted their price objective on shares of Bank of Montreal from C$226.00 to C$244.00 and gave the stock an “outperformer” rating in a research note on Thursday, May 28th. Desjardins boosted their price objective on shares of Bank of Montreal from C$212.00 to C$230.00 and gave the company a “hold” rating in a research report on Thursday, May 28th. Finally, Canaccord Genuity Group boosted their price objective on shares of Bank of Montreal from C$240.00 to C$242.00 and gave the company a “buy” rating in a research report on Friday, June 5th. Six equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Bank of Montreal has an average rating of “Hold” and a consensus target price of C$224.13.
View Our Latest Report on Bank of Montreal
Bank of Montreal Stock Performance
Bank of Montreal (TSE:BMO – Get Free Report) (NYSE:BMO) last released its quarterly earnings data on Wednesday, May 27th. The bank reported C$3.67 earnings per share (EPS) for the quarter. The company had revenue of C$9.57 billion during the quarter. Bank of Montreal had a net margin of 12.63% and a return on equity of 11.25%. Analysts expect that Bank of Montreal will post 9.6514585 EPS for the current fiscal year.
Bank of Montreal Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Tuesday, May 26th were issued a $1.67 dividend. The ex-dividend date was Wednesday, April 29th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.8%. Bank of Montreal’s payout ratio is presently 50.69%.
Insider Activity at Bank of Montreal
In other Bank of Montreal news, insider Sharon Marie Haward-Laird sold 4,519 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of C$225.85, for a total value of C$1,020,616.15. Also, Director William Darryl White sold 27,167 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of C$225.74, for a total value of C$6,132,678.58. Following the completion of the sale, the director owned 87,166 shares of the company’s stock, valued at C$19,676,852.84. This represents a 23.76% decrease in their ownership of the stock. In the last three months, insiders sold 35,487 shares of company stock worth $8,011,751. 0.03% of the stock is owned by insiders.
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.
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