Bank of Montreal (TSE:BMO - Get Free Report) NYSE: BMO shares hit a new 52-week high on Wednesday . The stock traded as high as C$25.11 and last traded at C$130.50, with a volume of 857884 shares trading hands. The stock had previously closed at C$133.53.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on BMO shares. Royal Bank of Canada dropped their price objective on shares of Bank of Montreal from C$134.00 to C$130.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 28th. CIBC dropped their price objective on shares of Bank of Montreal from C$125.00 to C$120.00 and set a "neutral" rating on the stock in a research report on Friday, March 8th. Scotiabank dropped their price objective on shares of Bank of Montreal from C$145.00 to C$141.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 28th. National Bankshares dropped their price objective on shares of Bank of Montreal from C$141.00 to C$137.00 in a research report on Wednesday, February 28th. Finally, TD Securities dropped their price objective on shares of Bank of Montreal from C$140.00 to C$135.00 and set a "buy" rating on the stock in a research report on Wednesday, February 28th. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Bank of Montreal has a consensus rating of "Moderate Buy" and a consensus target price of C$132.39.
Check Out Our Latest Stock Analysis on Bank of Montreal
Bank of Montreal Stock Performance
The stock has a market capitalization of C$94.83 billion, a P/E ratio of 18.37, a price-to-earnings-growth ratio of 0.54 and a beta of 1.18. The firm's fifty day simple moving average is C$127.44 and its 200 day simple moving average is C$120.95.
Bank of Montreal (TSE:BMO - Get Free Report) NYSE: BMO last released its earnings results on Tuesday, February 27th. The bank reported C$2.56 EPS for the quarter, missing the consensus estimate of C$3.03 by C($0.47). Bank of Montreal had a net margin of 17.71% and a return on equity of 7.28%. The firm had revenue of C$7.67 billion during the quarter, compared to the consensus estimate of C$8.57 billion. Analysts anticipate that Bank of Montreal will post 11.497828 earnings per share for the current fiscal year.
Bank of Montreal Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Monday, April 29th will be paid a $1.51 dividend. The ex-dividend date of this dividend is Friday, April 26th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 4.62%. Bank of Montreal's payout ratio is currently 83.08%.
Insider Activity
In other news, Senior Officer Nadim Hirji sold 2,882 shares of the firm's stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of C$130.46, for a total value of C$375,985.72. In related news, Director Darrel Hackett sold 3,297 shares of Bank of Montreal stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of C$91.76, for a total transaction of C$302,532.72. Also, Senior Officer Nadim Hirji sold 2,882 shares of Bank of Montreal stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of C$130.46, for a total transaction of C$375,985.72. 0.03% of the stock is currently owned by corporate insiders.
About Bank of Montreal
(
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Bank of Montreal provides diversified financial services primarily in North America. It operates through Canadian P&C, U.S P&C, BMO Wealth Management, and BMO Capital Markets segments. The company's personal banking products and services include deposits, mortgages, home lending, consumer credit, small business lending, credit cards, cash management, financial and investment advice, and other banking services; and commercial banking products and services comprise various of financing options and treasury and payment solutions, as well as risk management products.
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