Bank of Montreal (TSE:BMO) Reaches New 12-Month High - What's Next?

Key Points

• Bank of Montreal hit a new 52-week high, trading as high as C$204.43 (last C$204.27) and was up about 1.4% on the session, well above its 50-day (C$192.92) and 200-day (C$183.99) moving averages.
• Analysts have lifted targets and ratings—notably Canaccord to C$224, TD Securities to C$219 and Raymond James upgrading to "outperform" with a C$214 target—yet the consensus remains a "Hold" with an average target of C$201.33.
• BMO declared a quarterly dividend of $1.67 (annualized $6.68) implying a 3.3% yield; the ex-dividend date is April 29 and the payment date is May 26.

Bank of Montreal (TSE:BMO - Get Free Report) NYSE: BMO hit a new 52-week high during trading on Tuesday . The stock traded as high as C$204.43 and last traded at C$204.27, with a volume of 1887320 shares trading hands. The stock had previously closed at C$201.54.

Analyst Upgrades and Downgrades

Several analysts have recently commented on BMO shares. National Bank Financial upped their price objective on shares of Bank of Montreal from C$186.00 to C$205.00 and gave the company a "sector perform" rating in a report on Thursday, February 26th. Canaccord Genuity Group upped their price target on shares of Bank of Montreal from C$218.00 to C$224.00 and gave the company a "buy" rating in a report on Thursday, February 26th. Desjardins lifted their price objective on Bank of Montreal from C$195.00 to C$208.00 and gave the company a "hold" rating in a research note on Thursday, February 26th. TD Securities upped their target price on Bank of Montreal from C$209.00 to C$219.00 in a research note on Monday, February 9th. Finally, Raymond James Financial raised Bank of Montreal from a "market perform" rating to an "outperform" rating and raised their target price for the stock from C$183.00 to C$214.00 in a report on Friday, February 13th. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of C$201.33.

Bank of Montreal Trading Up 1.4%

The company has a 50-day simple moving average of C$192.92 and a 200 day simple moving average of C$183.99. The firm has a market cap of C$143.99 billion, a PE ratio of 17.02, a price-to-earnings-growth ratio of 0.71 and a beta of 1.17.

Bank of Montreal Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 26th. Shareholders of record on Tuesday, May 26th will be given a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 3.3%. The ex-dividend date is Wednesday, April 29th. Bank of Montreal's dividend payout ratio is currently 54.33%.

Bank of Montreal Company Profile

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.

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