Bank Of Montreal (NYSE:BMO) Sets New 12-Month High – Still a Buy?

Bank Of Montreal (NYSE:BMO) (TSE:BMO)’s share price reached a new 52-week high during trading on Monday . The company traded as high as $166.55 and last traded at $165.66, with a volume of 24973 shares changing hands. The stock had previously closed at $164.37.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BMO. Wall Street Zen upgraded Bank Of Montreal from a “sell” rating to a “hold” rating in a research report on Sunday, February 8th. National Bank Financial restated a “sector perform” rating on shares of Bank Of Montreal in a research report on Wednesday, February 25th. Desjardins reaffirmed a “hold” rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Zacks Research lowered shares of Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Finally, Weiss Ratings raised shares of Bank Of Montreal from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, May 28th. Five research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Bank Of Montreal currently has an average rating of “Hold” and a consensus target price of $163.00.

Bank Of Montreal Trading Up 0.5%

The stock has a market capitalization of $115.72 billion, a PE ratio of 17.54, a P/E/G ratio of 0.92 and a beta of 0.95. The company’s 50 day moving average price is $150.86 and its two-hundred day moving average price is $140.66. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.02.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last announced its quarterly earnings data on Wednesday, May 27th. The bank reported $2.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.54 by $0.14. Bank Of Montreal had a net margin of 12.60% and a return on equity of 13.04%. The company had revenue of $7.04 billion during the quarter, compared to analysts’ expectations of $6.98 billion. During the same quarter in the prior year, the company earned $2.62 EPS. Bank Of Montreal’s revenue was up 10.2% compared to the same quarter last year. As a group, analysts expect that Bank Of Montreal will post 11.82 earnings per share for the current year.

Bank Of Montreal Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Thursday, July 30th will be given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.1%. This is a boost from Bank Of Montreal’s previous quarterly dividend of $1.67. The ex-dividend date is Thursday, July 30th. Bank Of Montreal’s dividend payout ratio (DPR) is currently 52.55%.

Hedge Funds Weigh In On Bank Of Montreal

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BMO. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Bank Of Montreal in the 4th quarter valued at $29,000. Larson Financial Group LLC raised its holdings in shares of Bank Of Montreal by 466.7% during the 3rd quarter. Larson Financial Group LLC now owns 238 shares of the bank’s stock worth $31,000 after acquiring an additional 196 shares during the period. WFA of San Diego LLC acquired a new position in shares of Bank Of Montreal during the 2nd quarter valued at about $28,000. Flagship Harbor Advisors LLC purchased a new stake in shares of Bank Of Montreal in the fourth quarter valued at about $34,000. Finally, Western Wealth Management LLC purchased a new stake in shares of Bank Of Montreal in the first quarter valued at about $38,000. Institutional investors and hedge funds own 45.82% of the company’s stock.

Bank Of Montreal Company Profile

Bank of Montreal (NYSE:BMO), commonly known as BMO Financial Group, is one of Canada’s largest and longest-established banks. Founded in Montreal and headquartered in Montreal, Quebec, the bank provides a broad range of financial services to retail, commercial, corporate and institutional clients. BMO is publicly listed in both Canada and the United States and operates under a consolidated financial services model that integrates banking, capital markets, wealth management and asset management activities.

BMO’s core businesses include personal and commercial banking—offering checking and savings accounts, lending, mortgages, and small-business services—alongside wealth management and private banking through its asset and investment management divisions.