Bank Of Montreal (NYSE:BMO) Sets New 1-Year High - Here's Why

Key Points

• Bank of Montreal hit a new 52-week high of $154.51 on Wednesday, trading up roughly 2.7% with about 153,000 shares changing hands.
• BMO posted an EPS beat for the quarter — $2.51 vs. $2.35 expected — with revenue of $7.21 billion (up 6% year-over-year), and analysts forecast full-year EPS of 10.25.
• The bank declared a quarterly dividend of $1.67 ($6.68 annualized) for a 4.3% yield; analyst coverage is mixed but averages to a "Hold" rating with a $163 consensus target price.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO's share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $154.51 and last traded at $154.5710, with a volume of 153029 shares changing hands. The stock had previously closed at $151.02.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BMO. Wall Street Zen upgraded shares of Bank Of Montreal from a "sell" rating to a "hold" rating in a research note on Sunday, February 8th. Scotiabank restated a "sector perform" rating on shares of Bank Of Montreal in a research note on Monday. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Bank Of Montreal in a report on Friday, April 17th. Jefferies Financial Group reiterated a "hold" rating on shares of Bank Of Montreal in a research note on Wednesday, February 25th. Finally, Barclays cut shares of Bank Of Montreal from an "equal weight" rating to an "underweight" rating in a report on Friday, March 20th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Bank Of Montreal presently has an average rating of "Hold" and a consensus target price of $163.00.

Bank Of Montreal Trading Up 2.7%

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 stock has a market cap of $108.67 billion, a P/E ratio of 18.01, a PEG ratio of 0.96 and a beta of 0.94. The firm's fifty day moving average price is $143.04 and its two-hundred day moving average price is $135.26.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last posted its quarterly earnings data on Wednesday, February 25th. The bank reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.35 by $0.16. Bank Of Montreal had a return on equity of 12.16% and a net margin of 11.76%.The company had revenue of $7.21 billion during the quarter, compared to analyst estimates of $6.73 billion. During the same quarter last year, the company earned $3.04 earnings per share. The firm's quarterly revenue was up 6.0% on a year-over-year basis. As a group, equities research analysts forecast that Bank Of Montreal will post 10.25 EPS for the current year.

Bank Of Montreal Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 26th. Investors of record on Wednesday, April 29th will be given a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 4.3%. The ex-dividend date is Wednesday, April 29th. Bank Of Montreal's dividend payout ratio is 55.75%.

Hedge Funds Weigh In On Bank Of Montreal

A number of institutional investors have recently made changes to their positions in the stock. Bessemer Group Inc. raised its position in shares of Bank Of Montreal by 3.5% during the 1st quarter. Bessemer Group Inc. now owns 41,906 shares of the bank's stock valued at $5,657,000 after buying an additional 1,415 shares in the last quarter. Independent Financial Group LLC purchased a new position in Bank Of Montreal in the first quarter worth $215,000. D.A. Davidson & CO. grew its position in Bank Of Montreal by 24.7% in the first quarter. D.A. Davidson & CO. now owns 9,331 shares of the bank's stock worth $1,263,000 after acquiring an additional 1,851 shares in the last quarter. Checchi Capital Advisers LLC increased its stake in Bank Of Montreal by 2.9% in the first quarter. Checchi Capital Advisers LLC now owns 3,141 shares of the bank's stock valued at $425,000 after acquiring an additional 88 shares during the last quarter. Finally, Maryland State Retirement & Pension System increased its stake in Bank Of Montreal by 6.0% in the first quarter. Maryland State Retirement & Pension System now owns 80,062 shares of the bank's stock valued at $10,846,000 after acquiring an additional 4,511 shares during the last quarter. Institutional investors own 45.82% of the company's stock.

Bank Of Montreal Company Profile

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.

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