Bank Of Montreal (NYSE:BMO) Reaches New 12-Month High – Still a Buy?

Shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) hit a new 52-week high on Monday . The stock traded as high as $170.00 and last traded at $170.0660, with a volume of 276 shares. The stock had previously closed at $168.30.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Zacks Research lowered Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Weiss Ratings raised shares of Bank Of Montreal from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, May 28th. Raymond James Financial reiterated an “outperform” rating on shares of Bank Of Montreal in a research note on Tuesday, May 12th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Bank Of Montreal in a research note on Thursday, May 28th. Finally, National Bank Financial restated a “sector perform” rating on shares of Bank Of Montreal in a report on Wednesday, February 25th. Five equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $163.00.

Bank Of Montreal Stock Up 0.3%

The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a 50 day simple moving average of $154.08 and a 200-day simple moving average of $142.23. The firm has a market cap of $118.17 billion, a PE ratio of 17.89, a PEG ratio of 0.94 and a beta of 0.95.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released its earnings results on Wednesday, May 27th. The bank reported $2.68 EPS for the quarter, topping analysts’ consensus estimates of $2.54 by $0.14. The firm had revenue of $7.04 billion for the quarter, compared to analysts’ expectations of $6.98 billion. Bank Of Montreal had a return on equity of 13.04% and a net margin of 12.60%.The company’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the firm posted $2.62 earnings per share. Sell-side analysts predict that Bank Of Montreal will post 11.82 EPS for the current fiscal year.

Bank Of Montreal Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Thursday, July 30th will be given a dividend of $1.71 per share. This is a positive change from Bank Of Montreal’s previous quarterly dividend of $1.67. The ex-dividend date of this dividend is Thursday, July 30th. This represents a $6.84 annualized dividend and a yield of 4.1%. Bank Of Montreal’s payout ratio is currently 50.96%.

Institutional Investors Weigh In On Bank Of Montreal

Institutional investors have recently made changes to their positions in the company. Rathbones Group PLC increased its position in shares of Bank Of Montreal by 1.9% during the first quarter. Rathbones Group PLC now owns 42,154 shares of the bank’s stock valued at $5,692,000 after acquiring an additional 770 shares in the last quarter. Parallel Advisors LLC lifted its position in Bank Of Montreal by 5.5% in the 1st quarter. Parallel Advisors LLC now owns 2,912 shares of the bank’s stock valued at $394,000 after acquiring an additional 153 shares in the last quarter. Krane Financial Solutions LLC bought a new position in Bank Of Montreal in the 1st quarter valued at approximately $235,000. Glenmede Trust Co. NA boosted its stake in Bank Of Montreal by 3.7% during the 1st quarter. Glenmede Trust Co. NA now owns 6,810 shares of the bank’s stock valued at $922,000 after purchasing an additional 245 shares during the last quarter. Finally, Segall Bryant & Hamill LLC bought a new stake in shares of Bank Of Montreal in the 1st quarter worth $891,000. Hedge funds and other institutional investors own 45.82% of the company’s stock.

Bank Of Montreal Company Profile

Bank of Montreal (NYSE:BMO), commonly known as BMO Financial Group, is one of Canada’s largest and longest-established banks. Founded in Montreal and headquartered in Montreal, Quebec, the bank provides a broad range of financial services to retail, commercial, corporate and institutional clients. BMO is publicly listed in both Canada and the United States and operates under a consolidated financial services model that integrates banking, capital markets, wealth management and asset management activities.

BMO’s core businesses include personal and commercial banking—offering checking and savings accounts, lending, mortgages, and small-business services—alongside wealth management and private banking through its asset and investment management divisions.