Bank Of Montreal (NYSE:BMO) Hits New 52-Week High – Here’s What Happened

Bank Of Montreal (NYSE:BMO) (TSE:BMO) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $184.82 and last traded at $183.2260, with a volume of 29444 shares traded. The stock had previously closed at $183.57.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BMO. Desjardins restated a “hold” rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. TD Securities reiterated a “buy” rating on shares of Bank Of Montreal in a research report on Wednesday. Scotiabank reissued an “outperform” rating on shares of Bank Of Montreal in a research note on Tuesday, June 16th. Barclays reissued an “underweight” rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Finally, Raymond James Financial restated an “outperform” rating on shares of Bank Of Montreal in a research report on Tuesday, May 12th. Five investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Bank Of Montreal currently has a consensus rating of “Hold” and a consensus price target of $163.00.

Bank Of Montreal Trading Up 0.9%

The business’s 50-day moving average price is $176.43 and its two-hundred day moving average price is $156.89. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market capitalization of $129.49 billion, a P/E ratio of 19.72, a PEG ratio of 1.03 and a beta of 0.94.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last announced its earnings results on Wednesday, May 27th. The bank reported $2.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.54 by $0.14. The business had revenue of $7.04 billion for the quarter, compared to analyst estimates of $6.98 billion. Bank Of Montreal had a return on equity of 13.04% and a net margin of 12.60%.Bank Of Montreal’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter last year, the firm earned $2.62 EPS. As a group, analysts forecast that Bank Of Montreal will post 11.86 EPS for the current fiscal year.

Bank Of Montreal Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Thursday, July 30th will be paid a dividend of $1.71 per share. The ex-dividend date is Thursday, July 30th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 3.7%. This is a boost from Bank Of Montreal’s previous quarterly dividend of $1.67. Bank Of Montreal’s dividend payout ratio is 51.06%.

Institutional Trading of Bank Of Montreal

Hedge funds have recently added to or reduced their stakes in the company. Edmond DE Rothschild Holding S.A. bought a new stake in shares of Bank Of Montreal in the second quarter valued at approximately $28,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Bank Of Montreal during the fourth quarter worth approximately $29,000. Larson Financial Group LLC increased its stake in 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 bought a new position in Bank Of Montreal during the 2nd quarter worth $28,000. Finally, Western Wealth Management LLC bought a new stake in shares of Bank Of Montreal during the 1st quarter valued at $38,000. 45.82% of the stock is owned by institutional investors and hedge funds.

About Bank Of Montreal

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.