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

Key Points

• Bank of Montreal shares hit a new 52-week high, reaching as high as $184.21 before ending near $182.69, extending a strong recent run.
• Analyst sentiment is mixed: the stock currently carries an average “Hold” rating with a $163.00 price target, even though some firms like TD Securities and Scotiabank remain constructive.
• The bank reported better-than-expected quarterly earnings and raised its dividend to $1.71 per share, lifting the annualized yield to about 3.8%.

Shares of Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO reached a new 52-week high during trading on Monday . The company traded as high as $184.21 and last traded at $182.6890, with a volume of 717165 shares. The stock had previously closed at $181.97.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on BMO shares. Weiss Ratings raised shares of Bank Of Montreal from a "buy (b)" rating to a "buy (b+)" rating in a report on Wednesday, July 8th. Scotiabank restated an "outperform" rating on shares of Bank Of Montreal in a report on Tuesday, June 16th. Zacks Research downgraded Bank Of Montreal from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 27th. Barclays reaffirmed an "underweight" rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Finally, TD Securities reiterated a "buy" rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. Five equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $163.00.

Bank Of Montreal Trading Down 0.3%

The company has a market cap of $127.04 billion, a price-to-earnings ratio of 19.28, a PEG ratio of 1.02 and a beta of 0.93. 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 business's 50-day simple moving average is $167.94 and its 200-day simple moving average is $150.52.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last released its quarterly earnings results on Wednesday, May 27th. The bank reported $2.68 EPS for the quarter, beating the consensus estimate of $2.54 by $0.14. Bank Of Montreal had a net margin of 12.60% and a return on equity of 13.04%. The business had revenue of $7.04 billion for the quarter, compared to analyst estimates of $6.98 billion. During the same period in the prior year, the business earned $2.62 earnings per share. The company's quarterly revenue was up 10.2% on a year-over-year basis. Research analysts predict that Bank Of Montreal will post 11.82 earnings per share for the current fiscal year.

Bank Of Montreal Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Thursday, July 30th will be given a dividend of $1.71 per share. The ex-dividend date of this dividend is Thursday, July 30th. This is a positive change from Bank Of Montreal's previous quarterly dividend of $1.67. This represents a $6.84 annualized dividend and a yield of 3.8%. Bank Of Montreal's dividend payout ratio (DPR) is 50.96%.

Institutional Trading of Bank Of Montreal

Institutional investors and hedge funds have recently made changes to their positions in the stock. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Bank Of Montreal during the 4th quarter worth about $29,000. Larson Financial Group LLC lifted its holdings in Bank Of Montreal by 466.7% in the 3rd quarter. Larson Financial Group LLC now owns 238 shares of the bank's stock valued at $31,000 after purchasing an additional 196 shares in the last quarter. WFA of San Diego LLC acquired a new stake in shares of Bank Of Montreal during the 2nd quarter worth about $28,000. Flagship Harbor Advisors LLC acquired a new stake in shares of Bank Of Montreal during the 4th quarter worth about $34,000. Finally, Western Wealth Management LLC purchased a new stake in shares of Bank Of Montreal during the first quarter worth about $38,000. 45.82% of the stock is currently owned by hedge funds and other institutional investors.

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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