Bank of Montreal (TSE:BMO) Reaches New 52-Week High – Time to Buy?

Bank of Montreal (TSE:BMO) (NYSE:BMO) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$212.43 and last traded at C$212.37, with a volume of 955805 shares changing hands. The stock had previously closed at C$209.94.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on BMO shares. Barclays downgraded shares of Bank of Montreal from an “equal weight” rating to a “strong sell” rating in a report on Friday, March 20th. Jefferies Financial Group lifted their price objective on shares of Bank of Montreal from C$195.00 to C$196.00 in a report on Wednesday. National Bank Financial lifted their price objective on shares of Bank of Montreal from C$205.00 to C$223.00 and gave the company a “sector perform” rating in a report on Friday, May 15th. Raymond James Financial lifted their price objective on shares of Bank of Montreal from C$214.00 to C$227.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. Finally, Royal Bank Of Canada lowered their price objective on shares of 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. Five analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of C$208.31.

Bank of Montreal Price Performance

The business has a 50-day moving average of C$199.22 and a 200-day moving average of C$189.30. The firm has a market cap of C$155.12 billion, a price-to-earnings ratio of 18.34, a P/E/G ratio of 0.71 and a beta of 1.25.

Bank of Montreal Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 26th. Shareholders 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 yield of 3.0%. The ex-dividend date of this dividend is Wednesday, April 29th. Bank of Montreal’s dividend payout ratio is 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.