Bank of Montreal (TSE:BMO) Sets New 12-Month High - Here's Why

Key Points

• Shares of Bank of Montreal hit a new 52‑week high, trading as high as C$209.58 and last at C$209.75 on a volume of about 415,715 shares.
• Analysts are mixed—four Buys, five Holds and one Sell—resulting in a consensus “Hold” rating and an average target price of C$201.33, below the current share price.
• BMO declared a quarterly dividend of $1.67 (ex‑dividend April 29, payable May 26), implying an annualized $6.68 payout and a 3.2% yield.

Shares of Bank of Montreal (TSE:BMO - Get Free Report) NYSE: BMO hit a new 52-week high on Monday . The stock traded as high as C$209.58 and last traded at C$209.75, with a volume of 415715 shares traded. The stock had previously closed at C$208.15.

Wall Street Analysts Forecast Growth

BMO has been the topic of a number of recent research reports. Scotiabank lifted their price target on Bank of Montreal from C$191.00 to C$208.00 and gave the company a "sector perform" rating in a research note on Thursday, February 26th. Canaccord Genuity Group boosted their price target on Bank of Montreal from C$218.00 to C$224.00 and gave the stock a "buy" rating in a report on Thursday, February 26th. Jefferies Financial Group reduced their price target on Bank of Montreal from C$197.00 to C$195.00 in a report on Thursday, February 26th. National Bank Financial boosted their price target on Bank of Montreal from C$186.00 to C$205.00 and gave the stock a "sector perform" rating in a report on Thursday, February 26th. Finally, Desjardins boosted their price target on Bank of Montreal from C$195.00 to C$208.00 and gave the stock a "hold" rating in a report on Thursday, February 26th. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Bank of Montreal has a consensus rating of "Hold" and an average target price of C$201.33.

Bank of Montreal Price Performance

The company has a market capitalization of C$147.61 billion, a P/E ratio of 17.45, a PEG ratio of 0.71 and a beta of 1.17. The company has a fifty day moving average price of C$193.96 and a two-hundred day moving average price of C$184.67.

Bank of Montreal Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 26th. Stockholders of record on Tuesday, May 26th will be paid a $1.67 dividend. The ex-dividend date of this dividend is Wednesday, April 29th. This represents a $6.68 annualized dividend and a dividend yield of 3.2%. Bank of Montreal's dividend payout ratio is presently 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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