Bank of Montreal (TSE:BMO) Reaches New 12-Month High – Here’s What Happened

Bank of Montreal (TSE:BMO) (NYSE:BMO) reached a new 52-week high on Monday . The company traded as high as C$26.72 and last traded at C$129.86, with a volume of 898344 shares trading hands. The stock had previously closed at C$128.95.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on BMO shares. Royal Bank of Canada dropped their price target on shares of Bank of Montreal from C$118.00 to C$106.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 28th. National Bankshares dropped their price target on shares of Bank of Montreal from C$131.00 to C$127.00 and set an “outperform” rating for the company in a research report on Wednesday, August 28th. Canaccord Genuity Group dropped their price target on shares of Bank of Montreal from C$135.00 to C$130.00 and set a “buy” rating for the company in a research report on Wednesday, August 28th. TD Securities downgraded shares of Bank of Montreal from a “buy” rating to a “hold” rating and dropped their price target for the company from C$130.00 to C$114.00 in a research report on Wednesday, August 28th. Finally, Scotiabank cut shares of Bank of Montreal from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from C$123.00 to C$112.00 in a research note on Wednesday, August 28th. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of C$120.77.

Bank of Montreal Stock Up 0.8 %

The business’s 50 day simple moving average is C$119.71 and its two-hundred day simple moving average is C$120.82. The stock has a market cap of C$94.81 billion, a P/E ratio of 14.95, a PEG ratio of 0.71 and a beta of 1.16.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last posted its earnings results on Tuesday, August 27th. The bank reported C$2.64 earnings per share for the quarter, missing analysts’ consensus estimates of C$2.72 by C($0.08). The company had revenue of C$8.19 billion for the quarter, compared to the consensus estimate of C$8.23 billion. Bank of Montreal had a return on equity of 8.49% and a net margin of 21.20%. As a group, research analysts forecast that Bank of Montreal will post 9.6514585 earnings per share for the current fiscal year.

Bank of Montreal Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 26th will be paid a dividend of $1.55 per share. The ex-dividend date is Wednesday, October 30th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.77%. Bank of Montreal’s payout ratio is presently 71.35%.

Insider Buying and Selling

In related news, Senior Officer Steven Lloyd Tennyson sold 7,908 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of C$112.16, for a total value of C$886,977.10. In related news, Senior Officer Steven Lloyd Tennyson sold 7,908 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of C$112.16, for a total value of C$886,977.10. Also, Senior Officer David Robert Casper sold 12,819 shares of the business’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of C$121.85, for a total transaction of C$1,562,007.97. 0.03% of the stock is currently owned by insiders.

Bank of Montreal Company Profile

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.