Bank of Montreal (TSE:BMO) Reaches New 1-Year High - Here's Why

Bank of Montreal (TSE:BMO - Get Free Report) NYSE: BMO shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$152.24 and last traded at C$151.53, with a volume of 672259 shares trading hands. The stock had previously closed at C$150.91.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on BMO shares. CIBC increased their price target on Bank of Montreal from C$150.00 to C$156.00 and gave the company a "neutral" rating in a research note on Thursday, June 5th. UBS Group dropped their price target on shares of Bank of Montreal from C$160.00 to C$145.00 in a research note on Thursday, May 22nd. Royal Bank Of Canada reduced their price objective on Bank of Montreal from C$163.00 to C$161.00 and set an "outperform" rating for the company in a research report on Monday, June 9th. Jefferies Financial Group lowered their price target on Bank of Montreal from C$155.00 to C$129.00 in a research note on Monday, April 21st. Finally, National Bankshares set a C$144.00 price objective on shares of Bank of Montreal and gave the stock an "outperform" rating in a report on Thursday, May 22nd. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of C$145.69.

Bank of Montreal Price Performance

The company has a market capitalization of C$111.61 billion, a P/E ratio of 15.21, a PEG ratio of 0.71 and a beta of 1.16. The business's 50-day moving average price is C$143.30 and its two-hundred day moving average price is C$140.56.

Bank of Montreal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 26th will be given a dividend of $1.63 per share. This is an increase from Bank of Montreal's previous quarterly dividend of $1.59. The ex-dividend date of this dividend is Wednesday, July 30th. This represents a $6.52 annualized dividend and a dividend yield of 4.23%. Bank of Montreal's dividend payout ratio is currently 61.20%.

Insider Transactions at Bank of Montreal

In other news, Senior Officer Erminia Johannson sold 4,676 shares of the company's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of C$147.57, for a total transaction of C$690,023.29. Company insiders own 0.03% of the company's stock.

About Bank of Montreal

Bank of Montreal is a diversified financial-services provider based in North America, operating four business segments: Canadian personal and commercial banking, U.S. P&C banking, wealth management, and capital markets.