Bank of Montreal (TSE:BMO) Reaches New 12-Month High After Analyst Upgrade

by · The Cerbat Gem

Shares of Bank of Montreal (TSE:BMO – Get Free Report) (NYSE:BMO) hit a new 52-week high on Friday after CIBC raised their price target on the stock from C$192.00 to C$199.00. CIBC currently has an outperform rating on the stock. Bank of Montreal traded as high as C$182.78 and last traded at C$181.52, with a volume of 693554 shares trading hands. The stock had previously closed at C$181.91.

A number of other brokerages have also issued reports on BMO. Raymond James Financial raised their price target on shares of Bank of Montreal from C$182.00 to C$183.00 in a report on Monday. Canaccord Genuity Group raised their target price on Bank of Montreal from C$192.00 to C$201.00 in a research note on Friday, December 5th. TD Securities increased their price objective on Bank of Montreal from C$182.00 to C$184.00 and gave the stock a “hold” rating in a report on Friday, December 5th. Cibc World Mkts upgraded Bank of Montreal from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 5th. Finally, Royal Bank Of Canada raised their price objective on Bank of Montreal from C$163.00 to C$178.00 in a research report on Friday, December 5th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of C$182.00.

Read Our Latest Stock Analysis on Bank of Montreal

Bank of Montreal Price Performance

The company has a market cap of C$128.62 billion, a P/E ratio of 15.86, a P/E/G ratio of 0.71 and a beta of 1.39. The company’s 50-day moving average price is C$175.66 and its 200-day moving average price is C$164.76.

Bank of Montreal (TSE:BMO – Get Free Report) (NYSE:BMO) last posted its quarterly earnings results on Thursday, December 4th. The bank reported C$3.28 earnings per share for the quarter. The firm had revenue of C$9.34 billion during the quarter. Bank of Montreal had a return on equity of 9.04% and a net margin of 13.57%. On average, equities research analysts predict that Bank of Montreal will post 9.6514585 EPS for the current year.

Bank of Montreal Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Wednesday, November 26th were paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Thursday, October 30th. Bank of Montreal’s dividend payout ratio is presently 56.29%.

About Bank of Montreal

(Get Free Report)

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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