Bank of Montreal (TSE:BMO) Sets New 52-Week High – What’s Next?

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

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Raymond James Financial lifted their target price on Bank of Montreal from C$214.00 to C$227.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Desjardins lifted their target price on Bank of Montreal from C$208.00 to C$212.00 and gave the stock a “hold” rating in a report on Tuesday, May 5th. National Bank Financial lifted their target price on Bank of Montreal from C$205.00 to C$223.00 and gave the stock a “sector perform” rating in a report on Friday. TD Securities lifted their target price on Bank of Montreal from C$209.00 to C$219.00 in a report on Monday, February 9th. Finally, Canadian Imperial Bank of Commerce increased their price objective on shares of Bank of Montreal from C$211.00 to C$226.00 and gave the stock an “outperformer” rating in a research report on Thursday, May 14th. Five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of C$207.77.

Bank of Montreal Stock Performance

The stock has a fifty day moving average of C$198.36 and a 200-day moving average of C$188.73. The company has a market cap of C$149.79 billion, a PE ratio of 17.71, a PEG ratio of 0.71 and a beta of 1.25.

Bank of Montreal Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 26th. Investors of record on Tuesday, May 26th will be paid a $1.67 dividend. The ex-dividend date is Wednesday, April 29th. This represents a $6.68 dividend on an annualized basis and a yield of 3.1%. Bank of Montreal’s dividend payout ratio (DPR) is 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.