Bank Of Montreal (NYSE:BMO) Sets New 52-Week High - Should You Buy?

Key Points

• Bank of Montreal's stock has reached a new 52-week high of $123.57, reflecting a strong market performance with a trading volume of 771,136 shares.
• Analysts are divided on the stock, with Royal Bank of Canada upgrading its target price to $168.00, while Wall Street Zen downgraded it from "hold" to "sell."
• The bank recently announced an increased quarterly dividend of $1.63 per share, up from $1.18, reflecting a commitment to returning value to shareholders.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $123.57 and last traded at $123.51, with a volume of 771136 shares traded. The stock had previously closed at $121.68.

Analyst Ratings Changes

BMO has been the topic of several recent analyst reports. CIBC raised Bank Of Montreal from a "neutral" rating to a "sector outperform" rating in a research report on Friday. Scotiabank restated a "sector perform" rating on shares of Bank Of Montreal in a research note on Wednesday, August 27th. National Bankshares reiterated an "outperform" rating on shares of Bank Of Montreal in a research report on Friday, August 15th. UBS Group reissued a "neutral" rating on shares of Bank Of Montreal in a research note on Wednesday, August 27th. Finally, Cibc World Mkts upgraded Bank Of Montreal from a "hold" rating to a "strong-buy" rating in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $168.00.

Bank Of Montreal Stock Performance

The stock's 50 day moving average is $114.66 and its two-hundred day moving average is $105.01. The firm has a market cap of $90.58 billion, a P/E ratio of 15.49, a PEG ratio of 1.30 and a beta of 1.04. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.00 and a quick ratio of 1.00.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last posted its quarterly earnings data on Tuesday, August 26th. The bank reported $2.33 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.21. Bank Of Montreal had a net margin of 11.00% and a return on equity of 10.57%. The company had revenue of $6.51 billion during the quarter, compared to analysts' expectations of $8.84 billion. During the same period in the prior year, the company posted $2.64 earnings per share. Bank Of Montreal's revenue for the quarter was up 9.7% compared to the same quarter last year. As a group, equities analysts predict that Bank Of Montreal will post 7.71 EPS for the current year.

Bank Of Montreal Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Thursday, October 30th will be issued a $1.63 dividend. This is a positive change from Bank Of Montreal's previous quarterly dividend of $1.18. The ex-dividend date of this dividend is Thursday, October 30th. This represents a $6.52 dividend on an annualized basis and a yield of 5.2%. Bank Of Montreal's dividend payout ratio is currently 58.63%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Cary Street Partners Investment Advisory LLC grew its position in Bank Of Montreal by 228.9% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 273 shares of the bank's stock worth $26,000 after purchasing an additional 190 shares in the last quarter. WFA of San Diego LLC purchased a new stake in Bank Of Montreal in the second quarter worth about $28,000. Bayforest Capital Ltd purchased a new position in Bank Of Montreal during the 1st quarter worth approximately $34,000. Truvestments Capital LLC acquired a new stake in Bank Of Montreal during the 1st quarter worth $39,000. Finally, Harbor Asset Planning Inc. acquired a new position in shares of Bank Of Montreal during the second quarter worth about $39,000. 45.82% of the stock is owned by institutional investors.

About Bank Of Montreal

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.