Bank of Montreal (TSE:BMO) Hits New 12-Month High – What’s Next?

Bank of Montreal (TSE:BMO) (NYSE:BMO) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$134.71 and last traded at C$134.60, with a volume of 69806 shares traded. The stock had previously closed at C$134.09.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. TD Securities upped their price target on Bank of Montreal from C$114.00 to C$131.00 in a report on Friday, November 15th. Scotiabank upped their price target on Bank of Montreal from C$112.00 to C$147.00 in a report on Monday, November 25th. National Bankshares upped their price target on Bank of Montreal from C$127.00 to C$148.00 in a report on Wednesday, November 20th. Desjardins lowered their price target on Bank of Montreal from C$125.00 to C$120.00 and set a “hold” rating on the stock in a report on Wednesday, August 28th. Finally, CIBC increased their target price on Bank of Montreal from C$120.00 to C$134.00 in a report on Tuesday, November 26th. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Bank of Montreal currently has an average rating of “Hold” and an average price target of C$128.50.

Bank of Montreal Stock Up 0.2 %

The firm has a 50 day moving average price of C$127.75 and a two-hundred day moving average price of C$121.42. The company has a market capitalization of C$98.00 billion, a price-to-earnings ratio of 15.37, a P/E/G ratio of 0.71 and a beta of 1.16.

Bank of Montreal Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Tuesday, November 26th were paid a $1.55 dividend. The ex-dividend date of this dividend was Wednesday, October 30th. This represents a $6.20 dividend on an annualized basis and a yield of 4.61%. Bank of Montreal’s dividend payout ratio (DPR) is 71.35%.

Insider Buying and Selling

In related news, Senior Officer David Robert Casper sold 12,819 shares of Bank of Montreal stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of C$121.85, for a total value of C$1,562,007.97. Also, Senior Officer Steven Lloyd Tennyson sold 7,908 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of C$112.16, for a total transaction of C$886,977.10. Insiders own 0.03% of the company’s stock.

Bank of Montreal Company Profile

Bank of Montreal provides diversified financial services primarily in North America. It operates through Canadian P&C, U.S P&C, BMO Wealth Management, and BMO Capital Markets segments. The company's personal banking products and services include deposits, mortgages, home lending, consumer credit, small business lending, credit cards, cash management, financial and investment advice, and other banking services; and commercial banking products and services comprise various of financing options and treasury and payment solutions, as well as risk management products.