Bank Of Montreal (NYSE:BMO) Hits New 12-Month High - What's Next?

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO's share price reached a new 52-week high on Wednesday . The stock traded as high as $111.38 and last traded at $111.21, with a volume of 285628 shares traded. The stock had previously closed at $110.63.

Analyst Ratings Changes

Several research firms recently issued reports on BMO. Barclays lowered Bank Of Montreal from an "overweight" rating to an "equal weight" rating in a research note on Monday, June 9th. Cibc World Mkts lowered Bank Of Montreal from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Scotiabank assumed coverage on shares of Bank Of Montreal in a research report on Thursday, May 15th. They issued a "sector perform" rating on the stock. Finally, CIBC reissued a "neutral" rating on shares of Bank Of Montreal in a research note on Tuesday, May 20th. Eight analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $129.50.

Bank Of Montreal Price Performance

The company has a debt-to-equity ratio of 0.12, a current ratio of 1.00 and a quick ratio of 1.00. The firm's 50 day simple moving average is $104.05 and its two-hundred day simple moving average is $99.65. The firm has a market capitalization of $81.34 billion, a P/E ratio of 14.64, a P/E/G ratio of 1.22 and a beta of 1.07.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last released its quarterly earnings data on Wednesday, May 28th. The bank reported $1.84 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.84. Bank Of Montreal had a net margin of 10.25% and a return on equity of 10.15%. The firm had revenue of $6.32 billion for the quarter, compared to analysts' expectations of $8.79 billion. During the same quarter in the previous year, the company earned $2.59 earnings per share. The company's revenue for the quarter was up 8.8% compared to the same quarter last year. As a group, analysts predict that Bank Of Montreal will post 7.71 earnings per share for the current year.

Bank Of Montreal Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Wednesday, July 30th will be given a dividend of $1.1801 per share. This represents a $4.72 annualized dividend and a yield of 4.18%. This is a boost from Bank Of Montreal's previous quarterly dividend of $1.11. The ex-dividend date is Wednesday, July 30th. Bank Of Montreal's payout ratio is presently 57.33%.

Hedge Funds Weigh In On Bank Of Montreal

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cary Street Partners Investment Advisory LLC increased its stake in shares of Bank Of Montreal by 228.9% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 273 shares of the bank's stock valued at $26,000 after purchasing an additional 190 shares in the last quarter. IFP Advisors Inc grew its holdings in shares of Bank Of Montreal by 179.5% during the fourth quarter. IFP Advisors Inc now owns 313 shares of the bank's stock valued at $30,000 after buying an additional 201 shares during the last quarter. Bayforest Capital Ltd purchased a new position in shares of Bank Of Montreal in the first quarter worth $34,000. Vision Financial Markets LLC bought a new stake in Bank Of Montreal in the 4th quarter worth about $39,000. Finally, Dunhill Financial LLC purchased a new position in Bank Of Montreal in the 4th quarter worth about $39,000. Hedge funds and other institutional investors own 45.82% 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.